The Dominican Republic is a leading exporter of gold and cocoa. Gold exports ranked first in 2023 reaching almost US$1.13 billion, for a share of 9.45% of total exports. Cocoa exports had declined, down from US$226.14 million in 2022 to US$210 million in 2023.
The good news for the country is that the prices of these commodities are at highs and forecasts are for prices to stay high into 2025.
Gold reported a record high of US$2,305.04 an ounce on 4 April 2024. This is up 12% since the year began.
As of 1 April 2024, economic data provider Trading Economics reports expectations that US cocoa futures will trade at $10,030.66/ton at the end of the second quarter 2024.
The reason for the cocoa doubling in prices since the year 2024 began is the poor harvests in mega cocoa global exporters Ghana and Ivory Coast in Africa. Reports are that issues such as aging trees and cocoa-related...
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