Santo Domingo.-The Dominican economy concluded the year 2024 with a growth of 5.0 % of the gross domestic product (GDP), consolidating as one of the most dynamic economies in Latin America, managing to exceed adverse external factors such as geopolitical tensions and global monetary adjustments.
According to data from the Central Bank, the country experienced year -on -year quarterly expansions of up to 6.1 %, with controlled inflation that closed the year by 3.35 %, the lowest of the last six years.
This panorama is even more relevant considering the adverse international context, marked by conflicts in Eastern Europe, adjustments in the interest rates of the United States and tensions in global financial markets.
Among the main engines of that performance, leading the countries of Latin America in GDP growth in relation to 2023, it was motorized by sectors such as tourism, remittances, foreign investment and free zones, while at the local level the manufacturing stood out , energy, transport and construction.
With the arrival of 11.2 million non -resident visitors, the country reached unprecedented figures.
Of these, 8.5 million arrived by air and 2.6 million on cruises, generating revenues for US $ 10,974 million, an interannual increase of 12.6 % in relation to 2023.
This constant flow of tourists energized sectors such as hotels, bars, restaurants and transport.
Remittances
The remittances sent by the Dominican diaspora marked a record of US $ 10,756 million, with a growth of 5.9 % compared to the previous year.
More than 80 % of these funds came from the United States, where favorable economic conditions contributed to the increase in shipments. Dominican economic and political stability continued to demonstrate that it generates dividends for the country, since the direct foreign investment that reached US $ 4,512 million, exceeding US $ 4,000 million for the third consecutive year.
The most benefited sectors were transport, real estate, energy and tourism. These investments allowed the current account deficit and strengthening economic stability, according to the Central Bank report.
He cited as consolidated growth factors 2 % in 2024 the implementation of policies to ensure macroeconomic stability, including the decrease in monetary policy rate, which closed by 5.75 %, and the release of RD $ 175 billion in liquidity for the system financial.
These measures allowed a growth of 13.4 % in credit to the private sector and stimulated activities such as the construction and acquisition of housing.
The report indicates that the Dominican weight experienced a moderate depreciation of 5.0 %, lower than that of other economies in the region, which reflected a remarkable exchange stability.
Likewise, international reserves reached US $ 13,388 million, exceeding the standards of the International Monetary Fund.
Facing 2025, the projections indicate that the Dominican Republic will maintain its growth rate, supported by a diversified economy and public policies oriented to stability and development.
Position
– Strength
Given the performance, the Central Bank understands that the Dominican economy is in a good position to continue raffling the external and internal challenges that could impact its evolution. The projection is to maintain growth.
