PUBLISHER: GlobalData | PRODUCT CODE: 1086920
PUBLISHER: GlobalData | PRODUCT CODE: 1086920
GlobalData expects the Dominican Republic's construction industry to grow by 1% in real terms this year, which is down from the 5.5% previously predicted. This downward revision is attributed to rising construction costs, higher energy prices, rising unemployment, and supply chain disruption caused by the Russia-Ukraine conflict. According to the Central Bank of the Dominican Republic (BCRD), the construction industry's value add declined by 0.4% year on year (YoY) in Q2 2022, marking the first Y-o-Y fall since Q4 2020.
GlobalData expects the construction industry to register an annual average growth of 3.5% from 2023 to 2025, supported by the government's investment in the development of energy and utilities and transportation sectors. In August 2022, the Ministry of Economy, Planning, and Development announced that it had approved 308 projects totaling DOP132.9 billion ($2.4 billion) in the first seven months of 2022. The Ministry of Finance submitted to the parliament its draft 2023 Budget in September 2022, with spending totaling DOP1.2 trillion ($21.6 billion). The government intends to allocate DOP275.4 billion ($5 billion) to education, DOP137.8 billion ($2.5 billion) to healthcare, DOP49.6 billion ($892 million) to public works and communications, DOP27.4 billion ($492.8 million) to the industry, commerce, and Micro, Small, and Medium Enterprises (MSMEs), DOP10.7 billion ($192.4 million) to the tourism, and DOP3.1 billion ($55.8 million) to the energy and mines sectors
The report provides detailed market analysis, information and insights into the Dominican Republic's construction industry, including -
This report provides a comprehensive analysis of the construction industry in Dominican Republic. It provides -