Dominican exports have continued to grow for the fifth consecutive month, improving by 6.1% year to year. August 2024 was, indeed, the hottest month, with exports up by 18.3% to US$1.12 billion in 1,122 items.
So far, in 2024, exports have produced US$8.6 billion and counting.
According to the ProDominicana export and investment agency, part of this success is due to a significant promotion carried out in over 50 countries around the world. This is all part of a National Plan for Promoting Exports (PMFE).
One of the interesting aspects of this good news is the fact that this improving export picture comes in spite of some important regional and international negative situations. For example, there is the current chaos in Haiti, which traditionally has been one of the Dominican Republic’s main customers. Then there are the conflicts in Ukraine, Israel, China and the Philippines, and the tensions surrounding Taiwan, all of which are not considered good for international trade.
Internally, the Dominican export sector has lost the ferro-nickel production from the huge mine in Bonao, as the Falconbridge operation is shut down.
The good news was that the United States, traditionally the number one destination for Dominican products, has continued to be strong, increasing imports in August by more than US$370 million over August of 2023.
Other major destinations for Dominican products have been India, China, Belgium, Holland and Spain.
Read more:
Pro Dominicana
Presidency
El Caribe
23 September 2024