Local manufacturing sector grows in the first quarter of 2022

Local manufacturing sector grows in the first quarter of 2022

The Dominican authorities register collections of 37,262.2 million pesos between January and March 2022 in the sector of manufacture local, for a year-on-year growth of 11.9%. The data is contained in the “Local Manufacturing Situation Monitoring Report”, of the Vice Ministry of Industrial Development of the Ministry of Industry, Commerce and Mipymes (MICM).

According to the document, within the collections, the beverage manufacturing subsector was the one that contributed the most in the first quarter of 2022, after reaching 13,518 million pesosthus presenting an absolute variation of 1,883 million when compared to the same period in 2021.

Another sector that contributed to collections was the petroleum refining products subsector, registering 11,655 million pesos between January-March 2022, marking a favorable absolute variation of 944 million pesos compared to 2021.

Also, the manufacture of cement, lime and plaster contributed significant resources in the first three months of 2022, contributing 1,694 million pesos, an absolute variation of 115 million pesos, when compared to the same period in 2021, where collections were located at 1,579 million pesos.

They are followed by the subsectors: plastic manufacturing, pharmaceutical product manufacturing, soap and detergent manufacturing, basic iron and steel industries, chemical substance manufacturing, vegetable and animal oils and fats, among others.

formal jobs

Most of the Business that belong to the sector manufacture local have recovered the jobs formal. Among the subsectors that have recovered more than 100% of the formal collaborators are: manufacturing of pharmaceutical products, plastic manufacturing, manufacturing of soaps and detergents, manufacturing of chemical substances, vegetable and animal oils and fats, and products of oil refining, among others.

The manufacture local has an average of 137,777 employees between January and March 2022, for a recovery of 96% compared to March 2020. The data indicates that in March 2022 the number of formal employees amounted to 138,791.

Exports

Between January and March 2022, national industrial exports by destination markets reached 464 million dollars, 30% more than during the same period in 2021, when they were around 357 million dollars.

According to MICM data, the main destination of the products of the industrial sector was Haiti, with 154 million dollars, representing a growth of 30.9 percent compared to the first quarter of 2021, the year that exports to the neighbor country stood at 118 million dollars. Haiti received 33.2 percent of the merchandise of the Dominican industrial sector between January and March 2022.

On the other hand, exports to the United States registered 107 million dollars, for a share of 23% of the total. The other destinations are: Puerto Rico (14.0%), Jamaica (4.0%), Panama (3.8%), Costa Rica (2.0%), Taiwan (1.9%) and Trinidad and Tobago (1.3%), among others.

Graduated in social communication at the O&M University. He completed a Master’s degree in International Trade at the CEUPE European Postgraduate Center, has several diplomas in economics, customs, the electricity sector, taxes and investigative journalism.

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