The Economic Commission for Latin America and the Caribbean (ECLAC), in its report on the Preliminary Balance of Economies, noted that the Dominican Republic was the only country that did not experience setbacks in its growth dynamics during 2024.
In its analysis of the economic performance of the countries in the region, the organization pointed out that the slowdown in economic activity has been widespread in the countries of Central America and Mexico, and assured that this will continue for the remainder of 2024.
"When considering the estimates of economic activity for the second half of the year, it is observed that in all countries, except the Dominican Republic, there are setbacks in the dynamics of growth during the year," say the analysts from ECLAC.
In this report, ECLAC indicated that the growth projections for the Dominican economy at the end of 2024 are 5.2%, and for 2025, 4.6%.
Regarding food price inflation, the Dominican Republic was among the 22 countries that registered a decrease between 2023 and 2024, with drops of more than five percentage points, including: Barbados, Belize, Colombia, Ecuador, Peru, Saint Vincent and the Grenadines, Saint Lucia, Suriname and Venezuela.
In contrast, Argentina, Bolivia, and Haiti showed increases in this inflation, with increases exceeding five percentage points.
Likewise, the country was among 11 Latin American countries where employment increased by 4% during the first half of the year, while four experienced a contraction.
Another piece of information provided by the report is that "employment in the industrial sector increased in 11 of the 15 countries with available data, with notable increases of over 5% in Bolivia (Plurinational State of), Paraguay and the Dominican Republic, and declines of more than 4% in Argentina and Trinidad and Tobago.".
Employment in the generation of basic services increased in most of the countries for which data is available, but in particular, Argentina, Costa Rica and the Dominican Republic registered increases of more than 10% between the first half of 2023 and the same period in 2024. Likewise in the construction sector, which registered a growth of 6%.
ECLAC notes that employment in the financial services sector also grew in most countries, with increases exceeding 6% in Bolivia, Brazil, Chile, Nicaragua, the Dominican Republic, and Trinidad and Tobago.
Source: Listín Diario.
