Increase In Dominican Republic’s Exports

• President Luis Abinader has announced that the country has achieved its best export figures in the last three years, with a total increase of 23% compared to the period from 2016 to 2019.
• The president attributed this success to the National Export Promotion Plan (PNFE), which was launched in November 2020 to promote exports and improve competitiveness in global markets.
• Despite the challenges posed by the pandemic and international trade tensions, the Dominican Republic has managed to increase its exports by 23% since 2020, with a total value of $45.804Mn. The country’s main export partner is the United States, accounting for 54.38% of total exports, followed by other major destinations such as Argentina, China, and Japan.
• The president highlighted the growth of medical instruments and devices as a key sector. He also emphasised the importance of promoting women’s participation in the national productive process and their incorporation into international business activities.
• The PNFE has been implemented consensually and coherently, incorporating the perspectives and proposals of national and international institutions, companies, associations, and organisations involved in productive and export development. The plan has been recognised as a benchmark in good international practices and has positioned the Dominican Republic as a world-class logistics hub.
• The government has also implemented various initiatives to promote exports, including the modernization of the General Customs Law, the lifting of impediments to the entry of Dominican products to international markets, and the migration to non-face-to-face channels in the provision of services.

(Source: Dominican Today)