Study shows resilience of the local manufacturing industry before and after the pandemic

The crisis generated by the Covid-19 pandemic, showed the resilience of the local manufacturing industrywhich not only adopted the necessary measures to stay afloat, but also improved its sales and made significant investments in innovative tools that improved its production processes.

According to a study carried out by the Iberoamerican University (Unibe)with the support of Ministry of Industry, Commerce and MSMEs (MICM)83.9% of the participating industries registered good economic performance in their activities and operations, 35.5% of this performance was supported by the increase in their sales.

The Minister of the MICM, Victor -Ito- BisonĂ³stated that "this study, which is part of the initiatives promoted by the MICM, in addition to demonstrating the reinvention capacity of the local manufacturing sector in difficult times, it will serve as a valuable input to continue making industrial policy decisions based on evidence in the post-covid era in the Dominican Republic",

"Dominicans we were able to get our best face out of a difficult situation, industries innovated and adopted teleworking as an alternative method to perform their duties, especially in administrative and sales areas"expressed the minister during the presentation of the study’s findings.

The Vice Minister of Industrial Development, Fantino Polancopointed out that this important study shows the great contribution and effort of the local manufacturing sector during the uncertain times of the pandemic, as well as the growth in sales, jobs and exports in 2021 and 2022.

Findings
Among the findings presented by the Universidad Iberoamericana (Unibe) and the MICM are:

  • 67.7% of the industries surveyed in the study reported increases in their local sales.
  • 48% made exports, and of these, 66.7% reported increases in their external sales.
  • Due to the restriction measures during the pandemic, 61% of the industries adopted teleworking in administrative areas and 27.8% implemented it in sales areas.
  • 80.6% of the industries implemented costing systems, 77.4% carried out inventory controls, 61.3% carried out planning in their purchases and 58.1% incorporated data boards for their management.
  • 27.3% of the companies that approved loans used them to acquire machinery and equipment, as well as the incorporation of technologies to implement remote work.
  • Before Covid-19, 19.4% of industries used solar panels as an alternative energy source, a trend that doubled after Covid-19 in the surveyed industries, reaching 38.7%.
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