For the third straight year the Dominican economy exhibited a solid growth of 8.5%between January and December of 2007. The country’s GDP, calculate donm Base 1991, grew on average 9.5% between 2004 and 2007. adding the dynamic growth displayed by the Dominican economy is the continued growth of different sectors including finance (25.6%), communications (14.9%), commerce (13.9%) energy and water (9.7%), transport (6.8%), teaching (5.7%) and other services (5.2%), Also, the nation’s local manufacturing sector registered an increase of 4.8% while construction hotels (bars and restaurants included) and agriculture grew 3.2%, 3.7% and 1.2%, respectively. However, there were some sectors of the Dominican economy that did experience negative growth during 2007 including mining (-1.4%), free trade zones and (-10.0%).

In terms of costs, private spending increased 12.3% as a result in the strengthening exchange market and a relative inflation stability. Other factors which attributed to the to the dynamism of private consumption was a 31.4% increase ion banking credit to the private sector and the expansion by 22% of dollar valued goods.

Updated May 2008