Abstract: Diaryl carbonates, for example, diphenyl carbonate, are produced continuously by a two-step process wherein an alkali metal phenoxide compound is first produced from a phenolic compound and an alkali metal hydroxide, and thereafter the alkali metal phenoxide compound is reacted with an excess of phosgene at a temperature above the melting point of the diaryl carbonate product in a highly efficient reactor-mixer. Complete separation of the process steps and intimate admixing of the three-phase (gaseous, organic and aqueous) reaction mixture allows production of diaryl carbonates at high yield while avoiding excessive production of undesirable chloroformate intermediates.