The economy of Dominican Republic grew 7.1 percent year-on-year in the second quarter of 2018, quickening from a 6.4 percent advance in the previous period. It was the fastest expansion since the second quarter of 2016, driven by household consumption (5.6% vs 5.2% in Q1) and government spending (3.5% vs -0.8%). In addition, fixed investment continued to rise solidly (13.4% vs 12.0%). Meanwhile, imports surged 9.7 percent (vs 6.7% in Q1) and exports increased 6.7 percent (vs 4.9% in Q1). On the production side, output rose faster for: services (5.8% vs 4.8%), namely commerce (9.0% vs 7.7%), transport (7.7% vs 6.1%) and financial services (7.3% vs 4.8%); manufacturing (7.3% vs 6.4%); agriculture (6.3% vs 6.1%) and construction (12.8% vs 12.1%). GDP Annual Growth Rate in Dominican Republic averaged 5.52 percent from 1992 until 2018, reaching an all time high of 14 percent in the second quarter of 1992 and a record low of -3.40 percent in the second quarter of 2003.
GDP Annual Growth Rate in Dominican Republic is expected to be 6.50 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 5.00 in 12 months time. In the long-term, the Dominican Republic GDP Annual Growth Rate is projected to trend around 4.70 percent in 2020, according to our econometric models.