The disproportionate rise in the price of maritime freight was one of the factors that led to the increase in the costs of construction materials, which ultimately caused housing prices to skyrocket.
SANTO DOMINGO –The COVID-19 pandemic, which began in March 2020, impacted various sectors, including maritime transport, causing freight costs from China to the Dominican Republic to skyrocket from $2,500 (before the coronavirus) to over $20,000. However, these costs have since decreased.
“We are seeing reductions from Asia. They haven't yet reached 2019 tariffs, and I don't know if they ever will, but at least they are considerably lower than those paid in 2020, 2021, and even early 2022,” said José Antonio Álvarez, president of the National Association of Importers, yesterday.
In response to concerns from business owners that freight prices to other countries have been falling more than those to the Dominican Republic, he noted: “We have always paid more than the United States or Europe pays for freight from Asia.”.
"I suppose that's why our rates are falling less rapidly than for those markets," he added.
The presidents of the Dominican Federation of Merchants, Iván García, and of the Dominican Confederation of Micro, Small and Medium Enterprises, Luis Miura, reported to Diario Libre that bringing a container from China used to cost around $21,000 and now costs around $7,500, for a reduction that exceeds 60%.
“It used to cost $20,500 from China, now it costs $7,500, and it is expected to drop to $4,500 in 2023,” García estimated.
He indicated that bringing a shipment from Spain used to cost 14,000 euros, but now it costs around 6,500 euros.
Source: Diario Libre, with modifications
