Just released Central Bank figures show continued growth of the Dominican economy as measured by Gross Domestic Product (GDP). In the first quarter of 2007 the economy grew by 9.1% only slightly lower than the 10.9% posted for the same period last year.

Hector Valdez Albizu of the Central Bank attributes the growth to four factors. Imports of retail materials, raw materials and capital assets increased by 19.7% while exports for the first quarter grew by 65% mostly fueled by ferrous-nickel and non-traditional products. Bank financing also increased by RD$33.70 billion with two-thirds of that going to the production sector. Foreign investment saw US$333.10 million enter the country, an increase of 18.5%.

Overall 15 areas of the economy representing 89% of the GDP showed growth in the first quarter and helped to surpass all monetary and fiscal goals of the International Monetary Fund agreement.