AdoExpo: DR is on an export breaking trend

Dolores

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Feb 20, 2019
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The Dominican Association of Exporters (AdoExpo) president, Elizabeth Mena, reports a record of exports for the first four months of 2021. She says exports were US$3,752,219,096, up 23.1%. Exports in March 2021 were US$1,115,276,658, making it the highest export total ever. Mining and free zone exports made up most of the difference.



Speaking on the occasion of the National Exporters Day and the 47th anniversary of the Dominican Exports Association, Mena said that the export total demonstrates the sector’s resilience. She says the country is firmly on its way to becoming the logistics hub of the Caribbean.



Mena explained that from 2010 to 2020, Dominican exports increased from US$6.81 billion to US$9.86 billion, a robust growth of 44.67%.



She attributed much of the success to the diversification in the national export portfolio. Mena said that two...

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JD Jones

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Record exports are a pretty good indicator of how well the country is doing. Not the only one obviously.
 

NALs

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This is a few years old, but economist Carlos Despradel (the first Dominican graduated with an economics degree at the University of Santo Domingo (now UASD), then considered to be the best university in the country) says that the government should do a similar program that created the manufacturing sector. His premise is that nothing occurs by chance and thereason the DR has a large manufacturing sector is because of policies the government of Joaquín Balaguer adopted which facilitated the expansion of the sector (favorable tax structure, forcing the banks to loan at favorable rates to anyone interested in investing in the sector, etc.) He said that when the government creates favorable conditions to develop a sector, would be investors looking for a good return would be willing to create companies in this sector instead of in others that may not be creators of primary wealth. He has the impression that the government is simply letting chance dictate things and that's not how Dominican sectors were created and expanded, nor any country develops. One of the sectors he thinks the government should support by creating those favorable conditions again is the light manufacturing. He also mentioned the expansion of other sectors such as tourism, which too didn't developed by chance but rather as part of deliberate policies from the government.

He didn't say the following, but basically letting chance be the driving force is what Haiti did and look at the results.

Manufacturing is the primary source of exports for any country, though most Dominican manufacturing basically is for local consumption.

Danilo Mediba was president when this program was made.