The executive director of the Export and Investment Center of the Dominican Republic (ProDominicana), Biviana Riveiro Disla, presented the results of the fourth edition of the study “Situation of the Fashion Industry in the Dominican Republic 2024″.
This report provides a detailed analysis of the Fashion sectoroffering key information for the structuring, expansion and internationalization of the companies of fashion in the country, with a future focus to continue the formalization process and increase the impact of the sector on the economy.
- The data was presented within the framework of the celebration of RD Fashion Week 2024.
Riveiro indicated that the report reflects the importance of sustainability and the environmental responsibility in the fashion industryoffering practical recommendations to foster a growth competitive and sustainable.
The analysis of the exports The fashion sector shows a significant recovery after the pandemic, with a growth sustained 8% on an annual average between 2019 and 2023. Which highlights the resilience and strength of the dominican fashion facing global challenges.
Likewise, the study reflects how the free zones have been instrumental in strengthening the textile sectorwith a dominant participation in the exportspromoting the transfer of knowledge and technology.
“It is important to highlight that during the period 2020-2023, the exports of creative goods from Dominican Republic recorded a notable growth of 53.6%, reaching a value of US$2,635.4 million. This contrasts with the period 2016-2019, when the total value of exports was US$1,969.7 million.
Results
In the year 2023, the exports of the fashion sector recorded a growth of 4.2% compared to 2022 for a total of US$1,636.1 million, while in 2022 the exported value was US$1,571.0 million.
The study revealed that 98.1% of the total value of the exports of the sector in 2023 came from the free zoneswith US$1,605.6 million. Among the most exported products are jewelry items and their parts, which represented 37.6% of the total exported, equivalent to US$603.1 million.
The t-shirts and t-shirts Cotton represented 30.9% with a value of US$495.5 million, followed by sweaters and similar items with US$55.2 million and a 3.4% share.
In the national regime, microenterprises constitute 79.3% of the companies of the sector. Large exporters represent 8.8% of the total companiesgenerating 96% of the exports of the sector.
The main destinations of the exports of dominican fashion In 2023 it was the United States, which accounted for 89.1% of the total, followed by Haiti with 7.8%. Other major markets include the Netherlands, the United Kingdom and Paraguay. The exports of Dominican textiles to the United States reached US$1,430.0 million in 2023, with a rate of growth year-on-year of 4.2%.
This growth is attributed to the high demand for Dominican products, especially in work clothes and basic garments, consolidating the Dominican Republic as a key supplier to the US market.
In her presentation, the executive director of ProDominicana highlighted the institution’s commitment to actively supporting the Dominican export sector, playing a crucial role in its growth and penetration into international markets.
Finally, the exports of the sector between January and August 2024 show significant figures, with US$508 million in textile clothing, US$431 million in jewelry items and US$109 million in manufacture of footwear. This reflects the continued recovery and expansion of the fashion sector following the challenges caused by the pandemic.
