Economist: Still more room to export “nostalgic” products to U.S.
Santo Domingo.- The market for the so called “nostalgic” products gives Dominicans an opportunity to increase exports to the United States, affirmed Wednesday Manuel Orozco, director of the Inter-American Dialogue’s Remittances and Development Program.
Speaking in a conference in the Global Foundation for Democracy and Development, the economist said at the end of 2008 around 70 percent of the immigrants in the United States consumed products from their countries of origin, for which the nostalgic products exported to that nation from Latin America represent around 10 percent of the region’s total exports.
Orozco said that means that immigrants generate exports from their country of origin to the import country, where they live, creating companies and jobs in their native country.
He said while many countries in the region benefit from that niche market toward which Dominican Republic has also began an effort, many Dominicans still consume products from other countries of the region, because it’s still isn’t produced competitively in their country.