Dominican exports achieve record growth for fifth consecutive month

Santo Domingo.- Biviana Riveiro Disla, Executive Director of the Center for Export and Investment of the Dominican Republic (ProDominicana), announced a robust growth in merchandise exports, which surged by 18.3% in August, reaching a record value of US$1,119.7 million. This achievement results from over 240 promotional activities conducted in more than 50 countries over the past four years, aimed at uncovering new business opportunities while managing potential risks in line with the National Export Promotion Plan (PNFE).

Riveiro emphasized the resilience of Dominican exports, which have continued to thrive despite challenges such as the socioeconomic crisis in Haiti, geopolitical tensions, and changes in monetary policies. Notably, Dominican exports have set records for five consecutive months in 2024, exporting US$287.3 million more in August than in the same month of 2019, prior to the pandemic.

From January to August 2024, total exports reached US$8,611.4 million, reflecting a year-on-year growth rate of 6.1% compared to 2023 and a 30.6% increase relative to the same period in 2019. The United States remained the largest market, with a significant rise of US$381.7 million from 2023. Other notable markets included India, China, and the Netherlands, each showing substantial growth.

The agricultural sector led the growth in exports, with cocoa seeing the highest increase of US$166.0 million (a 95.8% year-on-year rise), followed by raw gold and medical instruments. Additionally, exports under the free trade zone regime grew by 7.8%, making up 67.2% of total exports from January to August 2024.