Economy May 15, 2024 | 2:43 pm

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Dominican exports soar in April 2024

Santo Domingo.- The Executive Director of the Dominican Republic’s Export and Investment Center (ProDominicana), Biviana Riveiro, has announced that Dominican exports soared to US$1,155.7 million in April 2024, marking a remarkable 22% increase from the previous year and a substantial absolute rise of US$208.1 million compared to April 2023.

Citing data from the General Directorate of Customs, Riveiro highlighted that the surge in exports was primarily led by medical instruments and devices, totaling US$106.8 million, followed closely by cigars at US$99.2 million, and raw gold, which saw exports valued at US$96.9 million.

In the cumulative period from January to April 2024, foreign sales reached US$3,986.4 million, reflecting a significant 27% growth compared to 2019 and a modest 1.1% increase from 2023.

The United States emerged as the top destination for Dominican exports in April 2024, accounting for 56% of the total exports, equivalent to US$647.2 million. Switzerland followed with US$96.8 million (8.38% share), and Haiti with export values of US$79.6 million (6.89% share), experiencing a 0.4% growth from the previous year.

Riveiro highlighted remarkable growth rates in various destinations during this period, including China (169%), Indonesia (271%), France (143%), Colombia (63%), Guyana (96%), and Puerto Rico (11%). Other notable destinations included the Netherlands, Germany, Belgium, the United Kingdom, Spain, Jamaica, India, and Italy.

Analyzing the composition of exports for the first four months of the year, raw gold led the pack, accounting for 10% of total exports, followed by medical instruments and devices (9.52%) and cigars (8.25%). Gold exports saw a 5.8% year-on-year growth during this period.

Furthermore, exports under the free zone regime experienced an impressive 29.1% year-on-year growth, while those under the national regime also registered a respectable 10.7% increase.

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