The Dominican Republic is the only country in Latin America without a setback in its growth dynamics during 2024

The Economic Commission for Latin America and the Caribbean (ECLAC), in its report on the Preliminary Overview of Economies, pointed out that the Dominican Republic was the only country that did not have setbacks in its growth dynamics during 2024.

In its analysis of the economic behavior of the countries of the region, the organization pointed out that the slowdown in economic activity has been widespread in the countries of Central America and

Mexico assured that this will be maintained 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 growth dynamics during the year,” ECLAC analysts say.

In this report, ECLAC pointed out that the Dominican economy’s growth projections at the end of 2024 are 5.2% and for 2025 4.6%.

In terms of food price inflation, the Dominican Republic was among the 22 countries that registered a decrease between 2023 and 2024, with falls of more than five percentage points. These included Barbados, Belize, Colombia, Ecuador, Peru, Saint Vincent and the Grenadines, Saint Lucia, Suriname, and Venezuela.

Contrary to these, Argentina, Bolivia, and Haiti showed increases in 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.

Otro dato que ofrece el informe es que “el empleo en el sector industrial aumentó en 11 de los 15 países con datos disponibles, y se destacan incrementos superiores al 5% en Bolivia (Estado Plurinacional de), el Paraguay y la República Dominicana, y caídas de más del 4% en la Argentina y Trinidad y Tabago”.

Employment in the generation of basic services increased in most countries for which data are available. Still, in particular, Argentina, Costa Rica, and the Dominican Republic recorded more than 10% increases between the first half of 2023 and the same period in 2024. Likewise, the construction sector in which it registered a growth of 6%.

ECLAC points out that employment in the area of financial and business services also grew in the

most countries with more than 6% increases are Bolivia, Brazil, Chile, Nicaragua, Dominican Republic, and Trinidad and Tobago.