Exports stagnate, with the exception of gold and silver
The Center for Export and Investment (CEI-RD) reports that during the first quarter of the year Dominican exports outside of free zones were up 8.53% from January to March 2014. During the period, the DR exported just over US$2 billion, but gold and silver made up US$416.4 million of this total. Diario Libre reports that when gold and silver exports are subtracted from the export total, exports were only up 1.2%. Remainder exports were US$1.5 billion.
Free zone exports were more than US$5 billion, for about 52% of all exports. In a recent presentation on the occasion of Dominican Week in Washington, DC Minister of Industry and Commerce Jose del Castillo reported that free zone investments increased 26% in 2013, meaning that future growth is ensured.
Category: DR News |