The Dominican Republic's economy advanced 3.7 percent year-on-year in the second quarter of 2019, slowing from a 5.7 percent expansion in the previous period. It was the weakest growth rate since the third quarter of 2017, as household consumption (3.8 percent from 4.6 percent in Q1), government spending (2.9 percent from 5.1 percent) and gross fixed capital formation (5 percent from 9.1 percent) eased. Net trade contributed negatively to the GDP, as imports increased 6 percent (vs 6.8 percent in Q1) and exports rose at a softer 2 percent (vs 5 percent in Q1). GDP Annual Growth Rate in Dominican Republic averaged 5.53 percent from 1992 until 2019, 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 5.00 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 5.50 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.