economy

Economy grew 6.1% first quarter of 2016

The preliminary report details the growth of the economy in the first quarter, in terms of real value added of the various activities was mainly due to the revival of activity Mining (33.8%), Financial intermediation (12.0%), Health ( 9.6%), Construction (8.8%), Hotels, Bars and Restaurants (6.4%), education (6.3%), Energy and Water (6.2%), transportation and storage (5.0%), Manufacturing Local (4.0%), Activities Real estate and rental (4.0%), trade (3.4%) and Agriculture (1.9%), indicating that those activities together account for about 80% of the growth period.

SANTO DOMINGO, Dominicana.- The Central Bank of the Dominican Republic (CRBBB) Republic reported that preliminary results of gross domestic product (GDP) in real terms show a remarkable growth of 6.1% in January-March 2016, after having registered an increase of 7.0% at the end of 2015, reflecting the country continues to grow above its potential, maintaining its leadership in Latin America and the Caribbean.

The bank said that 173.402 net new jobs were created in April 2015-April 2016, they have created 436.912 jobs between October 2012 and April 2016 and that the open unemployment rate is reduced from 6.0% to 5.7% the Economy of the Dominican Republic it is the first in fastest growing in Latin America surpassing aPanamá in 2015 the Dominican economy grew by 7% being one of the fastest growing in the world and is the ninth largest economy in Latin America after Brazil, Mexico, Argentina, Colombia, Venezuela, Chile, Peru and Ecuador. It is a developing country upper middle income by the World Bank, depending mainly on agriculture, foreign trade, services, mining, industry and tourism. Although the service sector has overtaken agriculture as the main provider of jobs due mainly to the rise and growth of tourism and industry, agriculture still remains the most important in terms of domestic consumption sector and is second (behind mining) in terms of export. Tourism contributes more than US $ 4,000 million a year. Industry and tourism are the fastest growing sectors. Remittances from Dominican nationals living abroad are estimated at about US $ 3,000 million per year.

According to the National Human Development Report of the United Nations Program for Development, UNDP, Dominican Republic 2005, [1] it states that this country has been inserted into the world economy of social and politically excluding way, knowing rates economic growth annual average in recent years above 5%. However, the exclusive nature of the economic model that has been imposed, it has not translated this growth to the welfare of the population. On the contrary, the report notes, Dominican Republic, in 2002 was the country number 13 (out of 177 in the world) that were less used to improve the position in the Human Development Index (HDI). With this you can talk about a failure of political elites of the past 50 years to lead his people to safety and welfare states. Equally, the report clearly establishes that the problem of the Dominican economy is not of insertion in markets, but competitive strategies that should be associated with the welfare of its population.