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Dominican Republic: GDP fall in 2020 the most intense since banking crisis

Santo Domingo.- The fall in the GDP that was registered in 2020 has been the most intense since the Dominican banking crisis of 2003.

Last year per capita income plummeted 11.6%, while the financial debacle at the beginning of this century caused a year-on-year decline of 20%, according to data from the Central Bank of the Dominican Republic.

GDP per capita – which refers to the wealth per inhabitant generated by an economy, in this case the Dominican one – closed last year at about US$7,544 per person.

The impact that COVID-19 had on the economy caused per capita income to decline to levels similar to those recorded five years ago.

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