Economy April 24, 2023 | 9:33 am

Buy car in DR

Bread and confectionery industry exceeded sales of RD$11 billion in 2022

According to the Ministry of Industry, Commerce and Mipymes, the bakery products industry generated over 7,000 formal jobs in 2022 and experienced an interannual sales growth of 8.7%, amounting to RD$11 billion compared to 2021. The study “Economic profile of the bakery product industries in the Dominican Republic” conducted by the MICM revealed that the exports of locally made bread, cookies, and cakes reached a volume of US$69.6 million in 2022, representing a 17.7% increase from the previous year. The majority of the exported bakery products went to Haiti and the United States, followed by Puerto Rico, Trinidad and Tobago, and Guyana.

The report identified 641 industries involved in the preparation of bread and desserts, with over half of them having their tax domicile in Greater Santo Domingo. More than 99.2% of these industries were MSMEs, and all of them were locally produced. The study also found that the added value of the bakery products industries grew by 4.2% from 2021-2022, which was higher than the growth rate of other food industries which stood at 2.0%.

The Government showed support for the sector by purchasing teleras from 26 bakeries and MSME industrial kitchens for RD$24.8 million in December 2022, following the mandate given in Decree 31-22, which aimed to encourage industrial MSMEs to improve their productivity, quality, and competitiveness.

0 0 votes
Article Rating
Notify of

Inline Feedbacks
View all comments