The Central Bank reported that the Dominican economy fell by 29.8% in April as a result of the distancing measures that led to the paralysis of all the productive activities of the country considered as “‘ non-essential “.
The Monthly Indicator of Economic Activity (IMAE) for January-April 2020 shows that the Dominican economy registered an interannual variation of -7.5% in the referred period. He specifies that this grew 4.7% in January and 5.3% in February, to then drop to -9.4% and -29.8% in March and April, respectively.
“With regard to the contractions registered in the months of March and more pronounced in April, they are explained by the impact of the preventive measures against the spread of the coronavirus (COVID-19), which contemplate social distancing , the suspension of operations in non-essential economic activities, closure of the country’s borders by air, sea and land, curfew from late afternoon until dawn and limitations on public transport, “the Central Bank said in a report .
He stressed that the adverse impact on growth registered in the month of April is expected to be the most critical point of the current crisis, as has been the synchronized experience in most of the world’s economies, mainly due to confinement measures. before the pandemic previously mentioned.
The activities that have been most affected in terms of real value added during the period January-April 2020 are Hotels, Bars and Restaurants (-34.1%), Construction (-24.5%), Mining (-11.4%), Other Services (-9.7%), Transportation and Storage (-9.6%), Free Zones (-8.8%) and Local Manufacturing (-5.2%).
It should be noted that despite the restrictions implemented as a result of COVID-19, some economic sectors continued to exhibit positive performance, such as: Health (12.4%), Financial Services (9.8%), Agriculture (5.2%), Real Estate Activities ( 4.9%), Communications (4.8%) and Energy and Water (3.5%), partially mitigating the adverse effects of preventive confinement on economic growth.
— Senabri Silvestre to eldia.com.do