The economy of the Dominican Republic grew by 2% in 2004, which reversed the contraction of 1.9% in 2003 and exceeded expectations formed early in the year. The export sector turned in a positive, although moderate, performance as tourist arrivals and exports of local goods increased, while free zone activity was virtually stagnant. Family remittances also grew (6.8%), reaching the equivalent of 12% of GDP. Domestic demand, in contrast, continued to suffer the consequences of the banking crisis in 2003. Consumption edged up gradually and investment slipped back for the second year running.

Related Subject(s): Economic and Social Development
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