The Ministry of Economy has announced a significant increase in both agricultural and local manufacturing exports during the first half of 2024. This complements the continuing rise in free zone exports. Free zone export companies operate in a privileged tax and labor regimes.
According to the Ministry of Economy’s Sectoral Overview report for June 2024, the accumulated value of agricultural exports rose by 26.7% compared to the same period in 2023. Similarly, the real value of local manufacturing exports experienced a 6.9% growth.
The report highlighted that in June alone, agricultural exports reached a value of US$139.4 million, marking a year-on-year increase of 58.3%. This surge can be attributed primarily to increased volumes and values of exported raw cacao beans to the United States and Spain, raw tobacco leaves to China, and eggs to Cuba...
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