The monthly indicator of economic activity (IMAE) registered a year-on-year variation of 13.1% last November, placing a growth between January and November 2021 of 12.5%.
SANTO DOMINGO.– With a score of 25.1%, the construction sector ranked second in terms of the most significant year-on-year variation compared to 2020, a trend it has maintained throughout this year, where this important sector has consistently ranked among the top performers and one of the strongest within the Dominican economy.
The governor of the Central Bank, Héctor Valdez Albizu, announced yesterday the results of the monthly indicator of economic activity (IMAE), which registered a year-on-year variation of 13.1% last November and reflects an economic growth of 12.5% between January and November 2021.
He highlighted that the first sector in increase is hotels, bars and restaurants (38.3%); manufacturing in free zones (21.2%); transport and storage (13.0%); commerce (11.8%); local manufacturing (11.0%); other service activities (5.8%); and energy and water (5.3%).
“This remarkable result for November, at 13.1 percent, practically guarantees us growth for the entire year at around or above 12 percent. With this result, the conditions are in place for the Dominican economy to close the year with an expansion that could exceed 12 percent, one of the highest growth rates in Latin America,” said Valdez Albizu.
He asserted that the outlook for the Dominican economy remains positive, with expected growth for 2022 slightly above its potential, supported by a more accelerated execution of public and private investment, and the recovery of tourism to its pre-pandemic levels.
“We are building an economy that had been devastated by a terrible pandemic,” he said, estimating that the growth of the Dominican economy in 2021 will be around or above 12%, a projection above the 11% he had announced a month ago.
Valdez Albizu projected that non-resident visitor arrivals would reach approximately 5 million by the end of 2021. He also highlighted the strong performance of loans to the private sector in local currency and assured that the financial system has sufficient liquidity to meet future credit demand.
He highlighted that remittances and total exports continue to show significant dynamism, with year-on-year growth of 11.2% and 21.7%, respectively.
