Jeff Bezos, founder of Amazon, has visited Peru. This has reopened the debate about the opportunities the country has for major investors. We asked three entrepreneurs and executives about the country’s strengths. They are Alonso Rey, Alfonso Bustamante, and Felipe Ortiz de Zevallos.

One of the world’s richest people and the founder of Amazon landed in Peru last week. Although Jeff Bezos was not on business but rather on vacation, the visit of the North American magnate has been a boon for investment expectations. Bezos enjoyed his visit to the Andean country and was able to tour Lima’s gastronomy, which included, among others, Central, La Perlita, and Mayta, and did a tasting in the Pisco Valley.

Bezos’ arrival is not the first visit by a world-famous technology-related businessman to Peru. In 2016, Mark Zuckerberg did it, and last year, the country received TikTok’s CEO Shou Zi Chew. However, Bezos’ presence has reopened the debate about the opportunities in the country to receive companies as big as the e-commerce colossus. For some time now, Peru has been described as a blessed country, not only for its landscapes and strategic location, but also for having raw materials capable of attracting the largest companies in the world. It is a fact that Peru has investment potential.

Macro Stability and an Untapped Promise

Years ago, Peru was not just a country with investment potential but “the star of the region” due to its high growth rates. Currently, growth is around 3% but inflation is kept within the target range (between 1% and 3%), the currency is solid thanks to the Central Reserve Bank, and fiscal stability has been maintained (although with the risk of a change if populist policies are extended). These fundamentals reinforce the idea that Peru has investment potential that remains underexplored.

In order to better understand these opportunities, this blog post brings together the opinions of three experts who have a very clear vision about the doors that Peru should open in order to be able to attract the largest investors in the world. They are the former president of the Confederation of Private Business Institutions (Confiep), Alfonso Bustamante Canny; the current ComexPerú president, Alonso Rey Bustamante, and Apoyo founder, Felipe Ortiz de Zevallos.

Peru has investment potential in several sectors

In the opinion of Felipe Ortiz de Zevallos, the rise in international metal prices places mining at the center of the country’s investment potential. He highlighted the need to advance with projects such as Michiquillay and La Granja, in Cajamarca, and Zafranal, in Arequipa, which would drive growth in those regions. These projects would focus on copper, whose demand will increase in the world due to the energy transition.

Alfonso Bustamante Canny put the energy sector on the table in connection with the demand that data centers will require. “Artificial intelligence is taking over the agendas of governments and business leaders, but electricity is the bottleneck,” he said. In this regard, he pointed out that Peru has 8,000 megawatts of efficient energy installed, plus 4,000 more in backup mode.

Alonso Rey Bustamante agreed on the potential of mining and energy, and also signaled in agriculture. “We are a world producer of avocado, grapes, blueberries, and cocoa, among others. With the irrigation projects that are underway, we can expand the lands, increase planting, and have more industrial exports,” he said.

What Peru should do to attract the largest investors

Private investment is key to fostering economic growth, job creation, and poverty reduction in Peru. However, to be able to attract the largest companies in the world, reforms are required. The three experts agreed that the State must simplify administrative procedures for investment and business creation. If the legal certainty and stability are not there, capital will go to other markets.

“The State has to be more agile and must run at the same speed as private investment,” said the ComexPerú president. In this sense, he asked for more digitalization, transmission lines, better roads, and access to the internet countrywide. “The country is spending public money in ways that we do not agree with, like keeping inefficient state companies alive, when those same resources could be used to close the infrastructure gaps. We cannot tell Amazon that the construction of a facility in Peru takes four years and 200 procedures”, he added.

Felipe Ortiz de Zevallos warned about political unpredictability as another threat. He referred to the prediction markets in the world, where people do not bet on elections in Peru because there are so many candidates that no one knows what may happen. In his opinion, this political uncertainty makes confidence take a back seat and investment over the long term is undermined.

Alfonso Bustamante said that it is necessary to improve infrastructure but at the same time advance in the reform of the judicial system, which is “unpredictable” and not able to administer justice.

A lack of security and problems with governance

Rising violence has been one of the clearest stains on the country’s investment attractiveness in recent times. Extortion, violent crimes, and illegal mining have become obstacles to growth. On that subject, Alfonso Bustamante warned that extending the Comprehensive Mining Formalization Registry (Reinfo) would be sending a negative signal to formal investors. Instead, he called for tougher requirements that take into account not only the environmental and occupational safety standards.

Alonso Rey said that the State has to deliver four basic services to the population: security, health, education, and justice. “We are not doing well in any of the four, which is not the case with the countries with which we compete: Argentina, Bolivia, Ecuador, and Chile,” he said. “They are also after the foreign investment we are looking for,” he added.

Felipe Ortiz de Zevallos agreed that public security should be a basic task of the State and that fighting corruption is also essential. The businessman explained that high-profile visitors like Bezos require large security contingents in Peru, which they would not need in Costa Rica or Uruguay. “We are world champions in the culinary arts, we have some bad spots on security and on integrity. On the other hand, there are very good signals: we have been the ones who have advanced the most in the construction of roads in the last decade,” he said.

The key role of the Port of Chancay

The announcement of the Port of Chancay has placed Peru once again in the international spotlight. “It is the great central piece that will strengthen the country’s infrastructure base, and with that, we should take advantage,” said Ortiz de Zevallos. Alonso Rey said that to be able to take full advantage of it, roads with fast access times and a proactive attitude in the search for investment are needed. Alfonso Bustamante added that it is necessary to eliminate logistical bottlenecks around the port for the project to have a significant impact.

What about the Peruvian investment potential?

Felipe Ortiz de Zevallos summarized that a country can attract investment, not by the size of the companies that can arrive, but by the size of its market, stability and governance, infrastructure, talent, how easy it is to do business, or the incentives. “The situation is good in terms of macroeconomic stability, which is extraordinary for Peru, but we have challenges that are not being fully addressed, such as the informal economy, the inefficient State, and the sometimes sluggish bureaucracy,” he said.

Alonso Rey Bustamante was categorical that in Peru, the State has not shown the required willingness to support private investment and saw an opportunity in data centers with renewable energies. “If we have the energy, we should have the containers in place for the data centers; we have the place. The call is to a bit of deregulation, to eliminate some absurdly expensive and unproductive public holidays that close production for four days a year, do not generate tax revenue, but take away productivity,” he added.

Alfonso Bustamante Canny concluded, saying that Peru has investment potential that is extraordinary, and which nobody in the world has. “I don’t know any country that has as many possibilities as Peru. It’s a shame that this has been wasted because of some ineptitude,” he said.

In Mexico, technology continues to arrive with force—and this time, it’s no joke. British investment firm Actis has just announced a major commitment: US$1.5 billion to build large-scale data centers across three Latin American countries. Mexico has earned a prominent place on that list. This move further strengthens the country’s position in the rapidly expanding digital infrastructure landscape and places data centers in Mexico squarely at the center of regional technological transformation.

A Massive and Ambitious Bet

Actis is not coming to Mexico as a casual observer. Through Terranova, its purpose-built platform for developing hyperscale data centers, the firm selected Mexico as the first country in Latin America to launch this regional expansion strategy. The project is designed to unfold over an intense three-year period, during which Brazil and Chile will also join the investment roadmap. However, Mexico is the initial anchor. That choice is not accidental. Actis sees the country as a strategic entry point thanks to its growing digital demand, proximity to the United States, and improving industrial ecosystem. The company’s vision is long-term and capital-intensive, aimed at building infrastructure capable of supporting the next generation of cloud computing and artificial intelligence workloads.

Energy: The Deciding Factor for Digital Growth

The message from Actis is blunt and unambiguous: without sufficient and reliable energy, the dream of artificial intelligence and cloud expansion could remain just that—a dream. Power infrastructure has become the single most important constraint for digital development in Latin America. While Mexico has generation capacity, the real challenge lies in transmission and grid connectivity. Access to the National Electric System, especially in high-demand regions, is increasingly complex. This bottleneck threatens to slow the expansion of data centers in Mexico unless it is addressed with urgency and coordination between public and private actors. Mauricio Giusti, Managing Director of Digital Infrastructure at Actis, has emphasized that energy availability is not just a technical detail—it is the foundation upon which the entire AI and cloud ecosystem depends.

Construction Already Underway

This investment is not theoretical. Terranova’s first Mexican data center is already under construction in San Miguel de Allende, Guanajuato. The contract was signed on December 31, 2024—while most people were celebrating the New Year—and delivery is scheduled for January 2026. According to Giusti, Actis is achieving a record-breaking delivery timeline of just 12 months, compared to the industry norm of 18 to 24 months. That accelerated execution reflects both the urgency of market demand and Actis’ operational experience in delivering complex infrastructure projects globally. But the expansion does not stop there. Terranova is also negotiating the acquisition of land in Querétaro, Mexico’s largest and most established data center cluster. The plan is to develop a purpose-built campus designed from the ground up to support high-density AI workloads, ensuring scalability and long-term relevance.

Private Sector Filling Infrastructure Gaps

One of the most striking aspects of this expansion is how companies are responding to Mexico’s infrastructure constraints. Members of the Mexican Data Center Association (MEXDC) confirm that several firms are directly financing substations and grid reinforcement projects, which are later transferred to the state. In effect, private investors are paving the road themselves to ensure projects move forward. While this approach demonstrates confidence in the market, it also underscores the need for broader public investment and regulatory alignment. Without it, the pace of growth for data centers in Mexico could be uneven and more expensive than necessary.

Mexico’s Geopolitical and Strategic Advantages

Beyond local demand, Actis sees a much bigger picture. Latin America, and Mexico in particular, could emerge as a global hub for “AI factories”—massive facilities dedicated to training and running artificial intelligence models. Currently, these AI factories are concentrated in the United States. But the U.S. is facing severe constraints on energy availability, land, and permitting timelines. Mexico offers a compelling alternative: relative energy abundance, competitive costs, and low-latency connectivity to North American markets. These advantages make data centers in Mexico strategically attractive not only for domestic use, but also as extensions of U.S.-based digital ecosystems. Nearshoring is no longer limited to manufacturing; it is now reshaping digital infrastructure as well.

A Significant Gap—and an Even Bigger Opportunity

Actis has not disclosed how much of the US$1.5 billion will be allocated to each country. However, the firm did share a revealing statistic: data center capacity per capita in Latin America is 20 times lower than in the United States. That gap highlights a clear reality. The region is underbuilt for current and future digital demand. But it also signals enormous upside potential for investors willing to move early and build at scale. Mexico’s role in closing that gap could be decisive, provided that energy transmission, permitting, and long-term planning keep pace with private investment.

Looking Ahead

Actis’ investment marks more than a financial milestone—it signals confidence in Mexico’s role in the global digital economy. With hyperscale projects already underway, advanced AI-ready campuses on the horizon, and growing interest from international capital, data centers in Mexico are rapidly becoming a cornerstone of the country’s economic and technological future. The challenge now lies in execution. If energy bottlenecks are resolved and infrastructure planning aligns with market demand, Mexico has a real opportunity to position itself as a regional—and even global—leader in next-generation digital infrastructure.

The Guatemalan economy is expected to close 2025 with 4.1% growth, and the same growth rate is projected for 2026. According to the Monetary Policy Evaluation Report, the construction sector has been the fastest-growing activity, playing a leading role in overall economic expansion.

The gross domestic product (GDP) is projected to end the year with a 4.1% expansion, as detailed in the monetary policy report reviewed by the Monetary Board (Junta Monetaria) during its session held on Wednesday, December 10, 2025. This projection reflects a solid performance across key productive sectors and sustained domestic demand.

Additionally, the 2026 growth forecast has been confirmed at 4.1%, following a comprehensive review of various macroeconomic variables and factors associated with national production. This outlook suggests continuity in economic momentum, despite ongoing global uncertainties.

Monetary Policy and International Context

Authorities from the Bank of Guatemala (Banguat) presented the results of multiple economic indicators, which collectively point to a favorable outlook for the Guatemalan economy, even amid a complex international environment. Particular attention was given to global conditions shaped by trade and migration policies implemented by the United States government during the year, which have influenced capital flows, remittances, and export demand.

Banguat officials also confirmed that the monetary policy framework for 2026 has already been approved and is pending official publication. The approval reinforces the central bank’s commitment to macroeconomic stability, low inflation, and prudent monetary management.

In nominal terms, Guatemala’s economy generated Q945.4 billion, while in real terms it reached Q636.7 billion, underscoring both price stability and real output growth.

Construction Leads GDP Growth with 8.3%

“There is a broad consensus that Guatemala needs to grow at 5% annually. The potential GDP growth rate is 3.5%, and we are currently growing at 4.1%. Over the medium term, we must become more productive, push structural reforms, and promote both domestic and foreign investment—public and private,” said Álvaro González Ricci, President of the Bank of Guatemala, when presenting the official figures.

Among the 17 economic activities that make up the GDP, construction recorded the highest growth rate at 8.3%, making it the primary driver of economic expansion. This growth reflects increased public infrastructure projects, private real estate development, and demand for commercial and industrial facilities.

Following construction, financial and insurance activities grew by 7.9%, supported by strong credit expansion, higher demand for financial services, and improved household and business confidence. The accommodation and food services sector, which includes tourism-related activities, posted growth of 5.4%, benefiting from a recovery in domestic travel and regional tourism.

These sectors collectively demonstrate how diversified growth is strengthening the Guatemalan economy beyond traditional agricultural and manufacturing activities.

Investment Needs to Reach 5% Annual Growth

To achieve sustained economic growth above 5% per year, Guatemala would require US$30 billion in investment over the next five years, equivalent to approximately US$6 billion annually. Authorities have already identified priority destinations for this investment, with a strong emphasis on infrastructure development.

Key areas include highways, rural road networks, ports, and airports, all of which are critical to improving logistics, lowering transportation costs, and increasing competitiveness. Importantly, officials stressed that infrastructure investment should not come at the expense of social spending, particularly in health and education, which are essential for long-term productivity gains.

When public investment materializes, it generates a multiplier effect that stimulates private investment. This dynamic serves as an incentive for businesses to expand operations, create jobs, and increase production, further strengthening the Guatemalan economy.

Monthly Activity Index, Inflation, and Exchange Rate Stability

Regarding year-end indicators, Banguat reported that the Monthly Index of Economic Activity (IMAE) reached 4.1%, aligning closely with the annual GDP projection. Inflation remained well under control, standing at 1.73% in November, with a year-end projection of 1.75%.

“This is a clear message that Guatemala offers stability,” emphasized the President of the Bank of Guatemala. Low and predictable inflation has supported consumer purchasing power and maintained confidence among investors and financial markets.

The average nominal exchange rate stood at Q7.72 per US dollar, influenced in part by strong family remittance inflows, which exceeded expectations. Remittances continue to play a crucial role in supporting household consumption, stabilizing the currency, and strengthening external accounts.

Outlook Toward 2026

Looking ahead, Guatemala’s macroeconomic fundamentals remain solid. Continued growth in construction, financial services, tourism, and infrastructure investment positions the country favorably within Central America. However, authorities acknowledge that reaching higher growth rates will require structural reforms, improvements in productivity, better public execution capacity, and sustained investment inflows.

If these challenges are addressed, the Guatemalan economy could move beyond its current growth ceiling and achieve a more inclusive and resilient expansion path in the coming years.

Why Ecuador Attracts Franchises but Not Industry or Technology

Ecuador attracts franchises—especially cafés, retail brands, and food chains—because it has market structure, logistics, and investment characteristics that benefit replicable and low-risk business models, but not large-scale industrial or technology projects. In recent years, Ecuador has seen a wave of international franchises in food service, cafés, apparel, and retail, while, at the same time, remaining absent from major technology companies’ or multinational manufacturers’ expansion plans, which instead prefer to establish plants, data centers, logistics hubs, and regional headquarters in other Latin American countries. This reality is not by chance: from an international investment perspective, Ecuador is a safe destination for standardized, low-risk, “plug-and-play” operations, but not a strategic environment for high-complexity industry or technology ecosystems that demand structural characteristics the country (especially its main city Quito) does not yet offer.

The Franchise Model Fits a Small and Regulatory-Heavy Market

The first reason Ecuador attracts franchises, but not industry or technology, is the fact that the franchise business model fits a small, urbanized, and regulation-heavy market. International brands in fast food, cafés, apparel, and convenience retail operate on a basic principle: standardization + detailed manuals + minimal customization + strong local partners. This is a fast, low-cost, and low-risk entry strategy that allows global companies to sell their brand in a market where demand is constant but where regulatory complexity makes industrial operations unattractive. Franchises do not need to build factories, create sophisticated supply chains, maintain engineering departments, or face long permitting procedures. All they require is a trustworthy local operator, centralized training, and a format that can be rolled out from city to city. Economist Andrés Rodríguez provides a telling example of the entry of Starbucks in Ecuador: “The arrival of Starbucks followed a classic franchise equation: global brand + local operator + replicable format. This model is impossible to match for other types of projects that require facilities, technology, permits, or capital-intensive infrastructure”. For this reason, Ecuador easily attracts franchises but struggles to land advanced manufacturing, assembly plants, or R&D operations.

Market Size Limits the Arrival of Industry and Technology

Industries and technology multinationals do not select cities or countries for expansion based on intuition: they are looking for scale, consumption power, talent, logistics, and regional access. When measured against Mexico, Brazil, Colombia, Chile, Peru, or Argentina, Ecuador is a smaller market with lower consumption volumes and less purchasing power. Ecuador’s GDP per capita has stagnated and even declined in recent years, remaining around USD $6,000 per year, or about $500 per month per person. For a factory, R&D center, or technology hub, this means not only limited domestic demand, but also insufficient scale to act as a logistics platform serving a regional hinterland. In contrast, franchises are based on a different logic. They can work only on local urban consumption, which means that they need only population density and brand affinity to trigger recurrent sales. For this reason, they work in smaller markets like Ecuador, while industrial or technological investments remain too complex or risky to materialize at the same scale.

The Foreign Investment Ecuador Receives Is Not Industrial or Technological

Analysis of recent Foreign Direct Investment (FDI) flows into Ecuador shows a third trend: Ecuador does not attract technology or industrial FDI. A majority of investment in the country heads to primary sectors such as energy, mining, oil, infrastructure, or services. Very little goes to advanced manufacturing, electronics, pharmaceuticals, or software development. Economist Natalia López puts it bluntly: “The country receives investment, but not the kind that transforms its productive structure. As a result, low-capital projects such as retail franchises become the natural alternative for investors who want to enter without committing millions in fixed assets”. This helps explain why Ecuador attracts franchises, while it has remained peripheral to Latin America’s industrialization and digital-economy expansion.

Ecuador Lacks the Innovation Ecosystem That Global Tech Giants Seek

Global technology companies—and the fast-growing scale-ups expanding across the region—require an environment with:

• abundant specialized talent
• universities that generate applied research
• active venture capital funds
• regional market scale or opportunities for rapid expansion

While Ecuador has developed skills in entrepreneurship and digital adoption, the country still lacks a critical mass of engineers, researchers, and innovation hubs. Unlike Santiago, São Paulo, Medellín, or Mexico City, Ecuador does not yet have large STEM-focused universities generating research at scale, a robust venture capital ecosystem, major tech parks or innovation districts, or a pipeline of specialized professionals for AI, software development, data science, or advanced manufacturing. This reality limits its appeal to major technology firms, even as Ecuador attracts franchises that require far lower levels of talent specialization.

Regulatory Costs and Uncertainty Increase the Risk of Complex Projects

In multiple reports, the Inter-American Development Bank (IDB) and the World Bank list consistent barriers to investment in Ecuador: bureaucratic procedures, regulatory uncertainty, inconsistent rules, and political risk. These factors are a minor concern for franchises, which rely on local partners to handle day-to-day operations and have a business model designed to function with highly standardized procedures. For industrial plants, logistics hubs, or data centers, these obstacles can multiply costs and delay projects for years. Complex investments require predictable regulatory timelines, fast permitting systems, reliable energy and transportation infrastructure, efficient customs procedures, and long-term policy stability. Where this is uncertain, multinational investors will often seek other Latin American destinations with clearer and more scalable frameworks.

Dollarization Helps Franchises but Is Not Enough for Industry

One often-overlooked factor that influences investment decisions in Ecuador is dollarization. Dollarization is a big advantage for consumer-oriented companies since it removes exchange-rate risk and stabilizes revenues. This is one of the reasons Ecuador attracts franchises so consistently. But for industrial and technological investors, currency stability is not enough on its own. These sectors also need logistics competitiveness, skilled labor, regulatory certainty, modern industrial infrastructure, and broad trade agreements if they are to expand for export. Without these factors, dollarization becomes a partial, but not a transformative, advantage.

How Ecuador Could Attract Other Types of Investment

While Ecuador attracts franchises because it is where the market is, the country can reposition itself and seek a more diverse set of investment options if it advances in three key areas:

1. Increase the Supply of Specialized Talent

This can be achieved through university–industry alliances, STEM-oriented training programs, and active talent-attraction policies focused on engineers, researchers, and digital professionals.

2. Build Competitive Industrial and Logistics Platforms

Modern industrial parks, export corridors, special economic zones, and efficient ports could lower operation costs and increase competitiveness.

3. Improve Regulatory Stability and Simplify Bureaucratic Processes

Clear rules, faster permitting, and reduced administrative burdens will help restore investor confidence and make large-scale projects financially viable.

Conclusion

Ecuador attracts franchises because franchises are tailor-made to match Ecuador’s current market size, regulatory structure, and urban consumption patterns. But to attract more sophisticated industry and technology, Ecuador needs to advance in deeper reforms. It must build a supply of specialized talent, strengthen logistics infrastructure, and ensure regulatory predictability. Only by tackling these structural issues can Ecuador shift from a market focused on franchise-friendly investment to a more competitive destination for high-value industrial and technological projects, with a more diverse and resilient economic future.

Economic growth in the Dominican Republic in 2025 is heading towards an estimated 2.5%, according to figures announced by the Central Bank of the Dominican Republic (BCRD). The moderate result corroborates a year of ups and downs that left the Monetary Authority in a wait-and-see position regarding the country’s economic expansion.

For this reason, the Central Bank is not surprised that the Monetary Fund is also forecasting 2026 to be more dynamic, with the GDP growth rate projected to rise to around 4.5% when external conditions normalize and domestic financial constraints are somewhat eased. Despite the current scenario of headwinds, however, the BCRD and the IMF are in agreement about the source of the challenges. For the BCRD, they respond to “a complex international scenario of strong volatility and tightened global financial conditions, together with a slowdown in tourism.” In other words, three main factors have hampered the country’s productive pace throughout the year. Nevertheless, it is not all bad news. In fact, there have been some segments that have not only sustained the momentum but have also kept the Dominican economy in gear one month after another. These are the Dominican Republic’s most dynamic sectors in 2025, according to monthly data released by the BCRD, which can also provide relevant information to understand economic growth in the Dominican Republic in 2025.

January: A solid start for several productive areas

January 2025 began on a positive note. The Dominican Republic’s economy expanded 2.2% during the month, with several activities reaching high figures. First, agriculture recorded growth of 4.7%, driven by good climatic conditions, high yields in the principal crops, and stable prices. Free zone manufacturing also stood out, growing 3.9% amid a recovery in demand from the United States and the advance of logistics modernization efforts inside the industrial parks. Local manufacturing also reached 3.2%, with the more vigorous production of food, beverages, and construction materials, while the services sector maintained a firm performance (3.1%), benefiting from finance, telecommunications, and business support activities. January was, therefore, a banner month for an economy that saw much more variability in other months, but which, despite everything, had important pillars contributing to growth in the Dominican Republic.

February: continued high figures in some productive engines

February’s Monthly Economic Activity Indicator (IMAE) only grew 1.5% over the previous month, indicating a slower pace, as was to be expected after a strong January. In any case, several areas of activity continued to present positive results. Agriculture (4.6%) was already showing some slowdown, but continued to be on an upward trajectory. Local manufacturing (2.8%) also continued on an uptrend, underpinned by stable domestic demand. Financial services (8.4%) experienced one of the strongest growth rates of the month, driven by greater credit activity. Transport and storage (3.9%) also benefited from more freight transport and improvements in logistics corridors. Thus, February also highlights the segments that registered the most stable figures.

March: turbo mode in the first quarter

March, on the other hand, recorded the highest performance in the first quarter. GDP expanded 5.4% over the same month a year earlier, showing a large increase propelled by four major productive areas. Construction activity, for example, grew 14.5%, supported by public infrastructure works and a renewed dynamism in private investment in housing and commercial construction. Free zones also posted an expansion of 11.3%, with textile, medical device, and electronic manufacturing as the main drivers. Financial intermediation also recorded growth of 11.3%, consolidating itself as one of the economy’s most dynamic pillars. Commerce grew 8.9% as well, thanks to higher household consumption and greater inventories of both retail and wholesale operations. In short, March was the most vigorous month of the first half of the year.

April: support for growth in key services

In April, the economy continued to expand, but at a more moderate pace, with a 2.5% increase over the same month a year earlier. The main contributors to this performance were financial services (9.6%), which continued their high upward streak; agriculture (4.8%), supported by livestock and basic grains production; transport and storage (4.8%), which benefited from improved mobility and commercial traffic; and commerce (3.6%) and real estate services (3.4%), two sectors that traditionally also tend to reflect greater economic confidence over the medium term. In short, April confirmed that key services, especially finance and logistics, were playing a central role in the Dominican economy’s resilience.

May: an unexpected month for mining

May, in turn, was the month when mining stood out in the most spectacular way. Mining and quarrying grew by 21%, supported by higher exports of ferronickel, gold, and construction aggregates. Agriculture also grew 5.4%, following its positive performance. National manufacturing also expanded by 2.8%, in line with greater industrial activity. Construction growth, meanwhile, stood at 1.9%, showing signs of tempering after its March high. With these results, economic growth in May was 3.1%.

Mid-year: productive balance sheet for the first semester

At the end of the first semester, the Dominican economy registered GDP growth of 2.4%, supported by agriculture (4.9%), mining and quarrying (2.3%), national manufacturing (1.6%), and free zones (1.2%). Thus, the first semester ended with evidence that, despite the global uncertainty, the most traditional export-oriented and primary production sectors are the ones that had the most weight in supporting the Dominican Republic’s economic growth.

July: new boosts for mining and free zones

In July, total economic activity increased 2.9%, and growth for January–July averaged 2.4%. The sectors that contributed the most growth during the month were mining and quarrying (21%), which continued to benefit from an extraordinary boost in exports; free zones (7.1%), which also maintained their advantage from stable demand; construction (3.8%), supported by continued infrastructure commitments; and the services sector (2.7%) and agriculture (1.8%), which continued to show solid growth contributions.

August and September: months of mixed performance

In August, growth was more modest, at 2.3%. The main sectors that lost momentum were construction and manufacturing, as they were affected by high financing costs and the slowdown of some investment projects. In September, however, several activities experienced a recovery in their results. Agriculture (3.9%), mining and quarrying (3.7%), financial services (7.4%), and tourism (3.3%) supported a growth of 2.2% in that month, highlighting the impact of increased financial activity and sustained demand in tourism, despite some earlier setbacks.

October: A slower ending to the period

In October, growth finally slowed to 2.0%, bringing to an end a period that, from the first quarter of 2025, was characterized by some bursts of dynamism and other months of adjustment. A fact that serves to further illustrate the uneven path of economic growth in the Dominican Republic in 2025.

Takeaways

The Dominican Republic’s economic growth in 2025 was uneven, but some productive engines stood out and played a key role in mitigating more pronounced slowdowns in activity. Such was the case of agriculture, mining, free zones, financial services, and construction. Despite the global pressure factors and the cooling of tourism, these segments have shown signs of resilience and flexibility that have favored the stabilization of the overall economy. In fact, these activities may also become catalysts for a more vigorous and widespread expansion in 2026 if some of the predictions materialize, such as stronger external demand, an easing of domestic financial constraints, and the normalization of investment.