In October 2024, exports of the Dominican Republic reached record figures for the seventh consecutive month, reaching a total of 1,165.0 million dollars, with an interannual growth of 20.4%. This information was presented by Biviana Riveiro, executive director of the Export and Investment Center of the Dominican Republic (ProDominicana).
The official explained that between January and October 2024 the accumulated value of exports of merchandise amounted to 10,870.7 million dollars, reflecting an increase of 8.2% compared to the same period in 2023.
Riveiro shared these data within the framework of the launch of the second edition of the “Provincial Productive Profiles“, a strategic guide that seeks to strengthen the Dominican economy by increasing exports and attracting foreign investment.
This tool provides a detailed vision of the productive potential of the 31 provinces and the National District, aligning with the “National Plan for the Promotion of Exports 2020-2030″.
He ProDominicana report The export growth of several provinces stands out. During 2023, Duarte showed a growth of 30%, followed by Barahona with 25%, San Pedro de Macorís with 8%, Puerto Plata with 6% and San Cristóbal with 5%.
That impulse in exports It is also evident in the free zones, where between 2023 and September 2024, 128 new companies were approved, representing an investment of 267.2 million dollars and a projection of 18,540 jobs.
The provinces of Pedernales and Montecristi have improved their competitiveness thanks to the expansion of their infrastructure. Since the inauguration of Cabo Rojo port in Pedernales In January 2024, three cruise ships have arrived, including the Norwegian Pearl, which brought more than 4,500 tourists and 1,870 crew members.
In Montecristi, progress is being made in the construction of two natural gas generation plants and in the expansion of the port of Manzanillo, with the support of the Inter-American Development Bank (IDB).
In addition, tourism development in the region has been strengthened with the opening of hotels such as the Wyndham Garden and the Super 8 by Wyndham.
Riveiro highlighted that the “Provincial Productive Profiles“They constitute an essential tool to promote exports and attract investments, positioning the Dominican provinces in national and international markets.
- This initiative offers relevant information for producers, exporters and investorspromoting the sustainable growth of the country.
Manuel García, president of the Dominican Federation of Chambers of Commerce (Fedocameras), praised the usefulness of these profiles as a strategic resource that allows each province to project itself to the world, showing its productive capabilities and attracting investments.
García stressed the importance of having accurate and updated data, especially in the global economic context current, where transparency and precision are key factors to capture new opportunities.
THE IDB
At the regional level, the growth of exports of goods in Latin America and the Caribbean has faced certain challenges. According to the latest IDB report, the value of the exports of goods in the region grew 3.2% year-on-year in the first half of 2024, after a drop of 1.6% in 2023.
The recovery was due to the increase in exported quantities and the stabilization of prices. However, intraregional sales decreased by 4.5%, which partially offset the growth of exports extra-regional.
The IDB report also highlights the potential of knowledge-based services, which have shown an average annual growth of 4.7% in the last decade in Latin America and the Caribbean.
To fully realize this potential, the region must overcome barriers in key areas such as human capitaldigital infrastructure and access to international markets.
