Dominican Republic's economy grows 12.5% in the first eleven months of 2021

Dominican Republic's economy grows 12.5% in the first eleven months of 2021


Photo: Orlando Barría / EFE

The Dominican Republic's economy grew 12.5% in the first eleven months of the year, the Central Bank of the Dominican Republic (BCRD for its acronym in Spanish) informed last Wednesday. 

Meanwhile, accumulated inflation to November stood at 7.71% and inter-annual core inflation at 6.63%.

When comparing the accumulated economic result to November of this year with the same period of 2019, "the level of economic activity was 4.3% above pre-pandemic levels," BCRD governor Héctor Valdez Albizu said at a press conference.

The sectors that most contributed to the good rhythm of the local economy are hotels, bars, and restaurants (38.3%), construction (25.1%), free zone manufacturing (21.2%), transportation and storage (13%), and commerce (11.8%), he explained.

Regarding tourism, the country's major source of income, the official said that tourist arrivals are expected to reach five million by the end of 2021.

The authorities project that the Dominican economy will register an expansion of over 12% this year, "one of the best performances in Latin America", added Valdez Albizu.

Source: Forbes. (2021, December 29). La economía dominicana crece 12.5% en primeros once meses de 2021. Forbes Centroamérica. Retrieved January 3, 2022, from  

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