The director of the new Center for Exports and Investments (CEI-RD), Danilo del Rosario is proposing that exporters contribute part of their windfall earnings resulting from the recent pronounced depreciation of the peso. As reported in El Caribe, he estimated that exporters could have benefited from RD$10 billion in additional earnings. Del Rosario is suggesting mechanisms be found to funnel part of the earnings to the government to help pay for the Baninter financial costs.
Del Rosario released a report that shows that total exports grew 11.73% in the first quarter of the year, compared to 2002. Exports increased from US$1.12 billion to US$1.25 billion, according to statistics from the CEI-RD. In its report on the increase in export totals, El Caribe says that the volume of exports has not increased, thus the value increment can be attributed to better prices abroad for Dominican merchandise.
Of the total, goods and services exported through free zones increased 13.32%. Exports produced outside the free zones were up 6.89%. Free zone exports totaled US$960.2 million during the first quarter of 2003, compared to US$847.3 million for the same period last year. Non-free zone exports were US$293.8 million, up from US$275 million in the first quarter last year.
The CEI says that the main exports from free zone were apparel, blood transfusion apparatus and cigars. Leading Dominican exports outside of the free zones are ferronickel, raw sugar, cocoa beans, steel bars, furfural, organic bananas, fresh melons, beer, fresh bananas and rice.