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Monday, August 8, 2022

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Tobacco stands for 8 percent of the Dominican Republic exports

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The tobacco industry in the Dominican Republic accounted for 15% of the exports from free zones and 8% of the country’s total exports in the last five years, official sources reported.

The Central Bank assured in a statement that during that period the country exported 5,850 metric tons of tobacco, “one of the most important productive sectors in the Dominican economy”.

The agency highlighted that the nation has become one of the largest exporters of organic tobacco worldwide and the world’s leading producer of quality cigars.

In the decade 2010-2020, the tobacco industry produced 7.3 billion dollars in exports and by 2021, tobacco sales in international markets are expected to approach 1 billion dollars.

The figure represents an annual growth of 8.3%, added the institution responsible for the country’s economic policy.

In 2020 the tobacco sector provided jobs for more than 100,000 people.

According to the monetary authorities, the recent creation of the plan to relaunch the tobacco industry, together with the reconstruction of the ports of Puerto Plata and Manzanillo, in the north of the country, will allow a greater dynamism of the exports of the leaf.

“Ultimately,” the statement said, “the covid-19 pandemic has represented a huge global challenge; however, the Dominican economy has been exhibiting a trajectory towards a faster-than-anticipated recovery, mainly influenced by construction activities. , industries and free zones”.

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