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Dominican Ambassador Highlights Diaspora and U.S. Impact on Economy.

ByEditor

Feb 12, 2024

The Dominican ambassador, Sonia Guzmán, emphasized the significant impact of the Dominican community abroad on the internal economy of the Dominican Republic in her address at the Capitol. She pointed out that, based on Central Bank figures for 2023, the country received remittances amounting to US$10,157.2 million. Notably, approximately US$8,532 million, accounting for 84% of the total remittances, originated from the Dominican community established in the United States.

The ambassador emphasized that the United States remains the Dominican Republic’s primary trading partner. In 2023, bilateral trade between the two nations reached US$18,072 million. Dominican exports to the United States totaled US$6,489 million in products and goods, comprising 54.38% of the country’s total exports.

Guzmán clarified that while exports from the Dominican Republic to the United States have not decreased overall, there has been a reduction in mining exports due to a decline in production and prices. Furthermore, she highlighted that the United States holds the top position in issuing non-resident foreign tourists to the Dominican Republic, constituting 46.8% of the total tourists received by the country.

By Editor

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