Friday, March 24, 2023

Tobacco: export begins with momentum in January, registering US$79.7 million

After having reported negative numbers in its exports at the beginning of last year, tobacco has had a rebound in January 2023, registering US$79.1 million. This indicates 17% more, which is equivalent to US$11.5 million compared to what was reported in the same month of 2022, according to the General Directorate of Customs (DGA).

The decrease experienced by the criollo cigar last year was 15%. This registered an amount of US$67.6 million in the first month of 2022, for a difference of US$12.1 million less compared to January 2021, which was US$79.7 million.

Everything indicates that the tobacco sector that exports started “on the right foot” in 2023, a positive aspect and a “good sign”, because in 2022 this trade reflected around US$7.4 million less compared to 2021. The data reflects which went from US$1,236.2 million to US$1,228.8 million, which represents a decrease of 1%.

Between 2019 and 2022, observing only the month of January, the trade balance of this product remained stable each year, with a difference in favor of exports over imports. However, that relationship and trend was practically even this year.

In January 2023, an amount of US$157.5 million was reported, of which US$79.1 million correspond to exports, that is, 50.2%. Meanwhile, imports were around US$78.3 million, for 49.7%.

The data also indicates that the total of cigarette imports in January 2023 exceeds the average amount (about US$47 million), registered as of 2019, in addition to being the amount with the highest weight during that period. However, exports in January of this year reflect figures similar to those of 2021, that is, about US$600,000 less.

Between 2019 and January 2023, the Dominican tobacco trade reported an amount of US$6,357.4 million. Foreign sales registered around 70%, with US$4,422.5 million, which indicates the highest weighting. Meanwhile, purchases from other countries to meet domestic demand reported US$1,934.9 million, that is, the remaining 30%.

cigarette imports

During January–December 2022, cigarette imports accumulated US$8,313.6 million, equivalent to a negative variation of 11.2%, for a drop of US$1,057 million compared to the same period in 2021, with US$9,370.8 million.

During this period, the number of imported cigarette packs also decreased, going from 74.7 million units in 2021 to 63.3 million units in 2022, which indicates a variation of 15%, 11.3 million units less.

Given this, cigarette collections were also reduced in January-December 2022, they went from RD$3,982.3 million in 2021 to RD$3,440.4 million, for 14% less and a difference of RD$541.9 million.


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