Dominican exports increased: South Korea 700%, United Arab Emirates 141% and Canada 95%

Ito Bisonó said that in 2022 the Dominican Republic’s trade exchange with the world reached US$43,436 million dollars, for an increase of 37% compared to 2019

The Dominican Republic has boosted its exchange with new markets to ensure diversification, not only of the export basket, but of the international positioning of its goods and services.

This was highlighted by the Minister of Industry and Commerce, Víctor (Ito) Bisonó, who said that a sample is that Dominican exports to South Korea increased by more than 700 %, to the United Arab Emirates 141 % and to Canada 95 %.

The official, who spoke during the XXXVIII Latin American Congress of Foreign Trade (CLACE), emphasized that the country has remained one of the countries with the greatest economic progress in the Latin American and Caribbean region, registering a growth of the Gross Domestic Product of over 5% by the end of 2022.

He also indicated that in 2022 the Dominican Republic’s trade exchange with the world reached US$ 43,436 million dollars, for an increase of 37 % compared to 2019.

Ito Bisonó also said that Dominican exports achieved a historic record by reaching US$ 12,390 million dollars, evidencing the resilience and firmness of the Dominican export sector.

“I would particularly like to highlight the performance of the free trade zone sector, whose exports exceeded US$7.7 billion. Between August 2020 and November 2022, 15 parks and 204 new companies were approved in free zones, projecting an investment of more than US$ 500 million dollars and the generation of some 32,500 direct jobs by 2023,” he said.

The minister said that the Dominican Republic is taking steps to include the creative industry sectors in foreign trade, such as the orange economy.

He said that during the last five years, according to information from the Central Bank, the country’s creative industry contributed about 1.5% of GDP and 12% of total employment.


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Dominican Republic Live Editor

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