Dominican Republic: Cumulative exports grow 12% in first quarter of 2022

Cumulative exports for the first quarter of 2022 amounted to USD 1,848.3 million in the Dominican Republic, representing a 12% growth compared to the same period of 2021, leading those related to the free trade zone regime by concentrating 60.8%.

Under this context, the Minister of Industry, Commerce and Mipymes, Victor “Ito” Bisonó, said that “this result of the first quarter of the year, in terms of exports, is a reliable proof that free zones remain as one of the main engines of our economy and key catalyst of the economic reactivation process”.

Likewise, the minister expressed that “the government of President Luis Abinader will continue working tirelessly to maintain economic stability and a favorable investment climate for business”.

During this period, free zones contributed 72.6% to the growth of total exports, with plastic articles being the sector with the highest relative growth with 40.8% compared to January-March 2021, followed by textile manufacturing (25.9%), medical devices and pharmaceuticals (20.5%) and jewelry (20%).

Exports to March 2020 totaled USD 728 million, which is equivalent to a growth of 9.1% compared to March 2021. Exports under the free trade zone regime accounted for 60.4% and exports under the national regime for 37.1% of the total. Likewise, free zones contributed 67.3% to the growth of total exports.

“Today we can say with confidence, but above all with pride, that, thanks to the contribution of this important sector, we continue to drive the economic and social development of our country. It is evident that the free trade zones are areas of opportunities for all and that in the free trade zones we are on the right track,” said Bisonó.

This sector is an example of growth and contribution to the economy of the Dominican Republic, which contributes to the generation of jobs, the attraction of new investments and the improvement of the quality of life of all Dominicans.

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