Trade between the Dominican Republic and the European Union (EU) totaled 4.137 billion euros in 2022, a record figure, which represented an increase of 27% over the previous year, according to data from the Caribbean country’s Euro Chamber of Commerce (Eurochamber).
EU exports to the Dominican Republic reached 2,720 million euros that year, while local exports to the Union totaled 1,419 million euros, which also represents a new historical maximum.
The data were offered by the new president of the Euro Chamber of Commerce of the Dominican Republic (Eurochamber), Jean Marco Pou, who highlighted the “solid” economic relationship between the parties.
Among the most exported products from the European Union to the Dominican Republic are machinery, mechanical devices, fuels, mineral oils and their derivatives, jewelry, pharmaceuticals, powdered milk and dairy products.
While the products that the country exports to the EU include bananas, avocados, cocoa, tobacco, rum, medical equipment and supplies, and metal smelters such as ferronickel, among others.
“It should be noted that the Dominican Republic is the main supplier of organic products to the EU, especially bananas and cocoa,” Pou said in statements contained in a press release, after being sworn in as president of the Eurochamber, made up of the chambers of commerce, which represent in the country Belgium, France, Germany, Italy, Portugal, Spain and France.
The executive pointed out that since the entry into force of the Economic Partnership Agreement between the European Union and Cariforum (EPA), signed in 2008 and to which the Dominican Republic is a party, trade between the Caribbean nation and the EU has grown 231%.