Agricultural exports hit US$130 million in May 2024

Santo Domingo.- The Ministry of Economy, Planning, and Development’s “Sectoral Overview” report for May 2024 highlights a significant increase in agricultural exports, reaching US$130.0 million, a 38.5% year-on-year rise. From January to May 2024, cumulative agricultural exports totaled US$421.0 million, driven by increased exports of raw tobacco to China, cocoa beans to the United States, and eggs to Cuba and the United States. In the manufacturing sector, the Producer Price Index (PPI) for goods increased by 1.3%, influenced by the production of food products, non-metallic minerals, and other key industries.

Tourism also saw notable growth, with 566,820 non-resident foreigners arriving in May 2024, a 9.2% increase year-on-year, bringing the total number of tourists from January to May to 3.2 million, an 11.1% rise. However, trade and transport sectors experienced declines. Commercial activity in May recorded a 12.9% year-on-year decrease, while the land freight transport mobility index fell by 7.7% and passenger transport by 2.6%.

In terms of financing, the real outstanding balance of productive sectors in May 2024 was RD$817,400 million, marking a 20.3% year-on-year increase, with significant growth in sectors like commerce, construction, and electricity and water. The agricultural sector continued its positive trend with an 8.5% variation for the fifth consecutive month. Meanwhile, the outstanding balance for microenterprises grew by 11.5% year-on-year, though at a slower rate compared to the previous year.