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Final Economic Result from the Central Bank

DomRep’s central bank has reported preliminary results for the first half of the year showing an economy that continues to develop quite favorably. Driven by the financial services (+48%), communications (+19%) and commerce (+14%) sectors, the country’s GDP expanded by 7.9% in 1H07, a pretty robust level if one considers the very high base against which the period’s performance was compared (in 1H06 the Dominican economy grew by 12.1%). Economic vitality between January-June was also underpinned by a 9% upsurge in total exports, as a sizeable increase in national exports (+52%) more than offset a decline in maquila exports (-8%). The Dominican economy soared by 10.7% in 2006 and is officially projected to expand by 6% this year. Given its positive momentum, however, we expect it to grow between 7.5%-8.5% instead.


 

 
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