The Dominican Republic's economy shrank 16.9 percent year-on-year in the second quarter of 2020, following a stagnation in the previous period. It was the sharpest contraction on record, as the coronavirus pandemic hit the economy. source: Central Bank of Dominican Republic

GDP Annual Growth Rate in Dominican Republic averaged 5.27 percent from 1992 until 2020, reaching an all time high of 14 percent in the second quarter of 1992 and a record low of -16.90 percent in the second quarter of 2020. This page provides - Dominican Republic GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Dominican Republic GDP Annual Growth Rate - values, historical data and charts - was last updated on November of 2020.

GDP Annual Growth Rate in Dominican Republic is expected to be -5.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Dominican Republic to stand at 5.90 in 12 months time. In the long-term, the Dominican Republic GDP Annual Growth Rate is projected to trend around 4.90 percent in 2021 and 3.70 percent in 2022, according to our econometric models.

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Dominican Republic GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-16.90 0.00 14.00 -16.90 1992 - 2020 percent Quarterly

Dominican Republic GDP Last Previous Highest Lowest Unit
GDP Growth Rate -15.80 -6.50 12.70 -15.80 percent [+]
GDP Annual Growth Rate -16.90 0.00 14.00 -16.90 percent [+]
GDP 88.94 85.56 88.94 0.65 USD Billion [+]
GDP per capita 8005.11 7697.72 8005.11 1250.65 USD [+]
GDP per capita PPP 18419.03 17711.77 18419.03 6143.85 USD [+]
GDP Constant Prices 956890.10 1137100.30 1231896.50 346180.10 DOP Millions [+]
Gross Fixed Capital Formation 215785.82 297378.74 349963.77 4137.32 DOP Millions [+]


Dominican Republic GDP Annual Growth Rate
The Dominican Republic is one of the fastest growing economies in the Caribbean. The most important sector of the economy is services, specifically tourism, finance and telecommunications. Mining has also been growing in importance, and ferronickel and gold production is expected to continue increasing. The Dominican Republic is also dependent on remittances and on revenues from the free-trade zones.