Official says services exports topped US$7.1B to Sept.

Santo Domingo.-  From January to September the country’s services exports topped US$7.1 billion, according to Dominican Republic Export and Investment Center (CEI-RD) director Marius De León,

He said the figure poses “a great opportunity for the sustainable development of the region.”

He said tourism grew 5.64% compared to the same period the previous year, to 82.71% of total exports.

De León spoke Thurs. at the opening of the 8th annual Latin American Services Exporters Convention Association (ALES), the first time Dominican Republic is host country.

“Statistics of the World Trade Organization (WTO) indicate that at the end of 2017, world exports of services grew 7.45%, the strongest increase recorded since 2011; in the same period, Latin America and the Caribbean registered a growth of 7.38%, in comparison with the previous year,” the official said.

He said that World Bank figures show that in 2017 the services sector accounted for 23.5% of total international trade, or 12.8% of world GDP.

De Leon said Dominican Republic’s exports of services increasingly contribute to the total volume of its exports each year. “In the last 5 years, service exports grew 7.85% on average. In 2017, exports of services amounted to US$8.8 billion, for a growth of 5.80% compared to 2016.”

He added that the country’s participation in the exports of services jumped 6.02%, from 40.51% in 2013 to 46.53% in 2017.