The creative industry contributed 12% of jobs in the DR

The creative industry contributed 12% of jobs in the DR

The creative industry of the country contributed in five years around 1.5% of gross domestic product (GDP) and the 12% of job total, which positions it as a key element to diversify the exportation of services.

The information was highlighted by the Minister of Industry, Commerce and MSMEs (MICM), Víctor-Ito-Bisonó, during his participation in the opening ceremony of the XXXVIII Latin American Congress of Foreign Trade (key).

The official specified that the country is giving leaps and bounds to continue improving the quality of life of Dominicans and raise the levels of productivity and national competitiveness through the inclusion of the sectors of the creative industry in foreign trade.

In this context, he assured that the companies of the so-called “orange economy” they have played an outstanding role in the economic growth of the country, which reached 4.9% in 2022, according to a report from the Central Bank.

With the motto “Financial services promoting foreign trade in the digital era”, the Association of Multiple Banks of the Dominican Republic (ABA) and the Latin American Federation of Banks (Felaban) began the international congress in Santo Domingo in which they will analyze prospects and challenges faced by the countries of Latin America and the Caribbean.

Dominican exports

During his speech, the Minister of Industry and Commerce explained, before trade experts, that in 2022 the commercial exchange of the Dominican Republic with the world reached 43,436 million dollarsfor an increase of 37%, compared to pre-pandemic levels of 2019.

While the exports achieved a “historical record” by reaching 12,390 million dollars. “These results are concrete evidence of the resilience and firmness of the Dominican export sector,” he said.

“We have continued strengthening business relationships with our traditional partners, but at the same time, we have promoted our exchange with new markets to ensure diversification, not only of our export basket, but also of the international positioning of our goods and services,” he said.

In that order, he reported that the Dominican exports to South Korea increased more than 700%. Likewise, exports to the United Arab Emirates and Canada increased 141% and 95%, respectively.

The official highlighted the performance of the sector of free trade zonewhose exports exceeded 7,700 million of dollars.

On this line, he added that, between August 2020 and November 2022, 15 parks and 204 new companies in free zones, projecting an investment of more than 500 million dollars and the generation of some 32,500 direct jobs by 2023.

Dominican journalist specializing in economics and finance, graduated from the Dominican O&M University.

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