In the Dominican Republic, local manufacturing has shown notable dynamism in the first eight months of 2024, with accumulated growth of 3.8%. In August, this growth was accentuated, reaching 6.8%.
This increase is supported by a Monthly Manufacturing Activity Index (IMAM), which stood at 50.2 points, reflecting the confidence of industrialists regarding the future of manufacturing activity in the country.
Manufacturing has not only contributed to the economy in terms of growth, but has also been instrumental in the job creation.
According to portal data RD Industriesthe sector registered an interannual variation of 1.6% in job creation, adding a total of 147,205 formal jobs in August 2024. This trend underlines the importance of local manufacturing as a source of work and economic stability.
Internal collection
The contributions of the local industries Internal collections reached 14,867 million pesos, with a year-on-year increase of 11.9%. The subsectors that have shown the most notable growth in their tax contributions are:
- Manufacture of cement, lime and plaster: +26.0%
- Editing, recording and printing: +17.5%
- Production of dairy products: +15.5%
sales in the sector have also been encouraging, with a variation of 11.1% until July 2024, totaling 99,155 million.
Exports: Haiti continues to lead
In the area of exportsthe industrial products of the national regime reached an amount of 1,146.1 million dollars in the period January-August 2024, representing an interannual growth of 2.7%.
The main destinations of these exports were Haiti (29.5%), USA (21.1%) and Puerto Rico (12.0%).
Among the products that were most exported are: cane sugarhydraulic cements and iron or non-alloy steel bars. This growth in exports shows the competitiveness of Dominican products in the international market.
The Minister of Industry, Commerce and MSMEs (MICM), Víctor (Ito) Bisonó, recently emphasized that the growth of manufacturing sector It is the result of the commitment to the continuous development of the Dominican industry.
Furthermore, the creation of a favorable environment for business and the attraction of investments have been key to increasing the sector’s contribution to the national economy and facilitate insertion into international markets.
The authorities of the MICM They explained this Thursday that local manufacturing In the Dominican Republic it plays an important role in the economy, not only because of its growth and fiscal contributions, but also because of its ability to generate employment.
Yesterday the webinar was held: “Update on the number of local manufacturing industries, year 2024”. At this event, details of the most recent update on the number of local manufacturing industries.
They also showed that, in the subportal RD Industries of the MICMthe main statistics that reflect the evolution of the industrial sector are presented. Likewise, this digital platform presents the most relevant documents and information that highlights the initiatives developed since the MICM to promote industrial development.
According to article 2 of Law 392-07, the manufacturing industry It is the physical and/or chemical transformation of materials and components into different products, whether the work is done by machines or by hand within a factory and whether the products are sold wholesale or retail.
In the first update of the amount of local manufacturing industriesAfter applying all the selection criteria in 2021, 6,513 industries were registered. This number grew to 6,920 in 2022 and reached 7,463 in 2023, indicating consistent growth year after year.
Of the 7,269 local manufacturing industries In the 2024 update, 6,216 remain compared to 2023 and 1,053 were reclassified as manufacturing industries for different reasons.
