Analysis by Region - Emerging Markets - Dominican Republic
Our GDP growth forecast for the Dominican Republic in 2022 is unchanged at 5.2%, close to our estimate for its potential growth rate. However, we nudged down our 2023 forecast by 0.6ppts to 3.8%, because of global headwinds, stemming from monetary tightening and looming recessions in advanced economies. Record tourism activity, buoyant remittances, high FDI, a robust manufacturing sector, and appropriate policy responses have supported the Dominican Republic's resilience against an ever-worsening global outlook. However, deteriorating terms of trade due to higher oil prices and tighter financial conditions will weigh on economic dynamism.
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