Extraordinary growth in economic activity in April 2021

DOMINICAN REPUBLIC - In Brief 26 May 2021 by Magdalena Lizardo
Today the Central Bank disclosed that the Monthly Indicator of Economic Activity grew 47.1% in April 2021 compared to April 2020. This expansion not only made it possible to reverse the drastic year-on-year drop of 29.8% experienced in April 2020 but also exceed the level of pre pandemic economic activity reached in April 2019. The growth rate April 2021 with respect to April 2019 is 3.3% The economic activities with the highest interannual growth rates in April 2021 were: Construction (566.9%), Hotels, Bars and Restaurants (140.7%), Free Zones (82.6%), Mining (60.6%), Other Service Activities (48.8%), Transportation and Storage (45.1%), Local Manufacturing (34.4%) and Commerce (22.7%). Similarly, there are increases in Communications (5.7%), Energy and Water (5.5%), Financial Services (4.9%), among others. Taking into account January-April 2021 accumulated growth rate, the Central Bank is revising up its economic growth projection for 2021, from an originally projected growth rate of 5.5% - 6.0% compared to 2020 to a new projection of 7.0% to 8.0%.

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