Free Trade Zone sector boosts DR exports by more than 67%

The Dominican Association of Free Zones (ADOZONA), announced outstanding results for the sector during the month of February 2024, where exports represented an impressive 67.6% of the country’s total exports.

In addition, they reported that in the first 60 days of the year, exports from the sector reached a record US$1,229.4 million.

According to data from the Ministry of Industry, Commerce and Mipymes (MICM), the country’s total exports in February 2024 amounted to US$ 686.5 million, reflecting a 12.9% growth compared to the same period of the previous year.

Zonas Francas RDADOZONA’s president, Luis José Bonilla Bojos, underscored the fundamental role that free zones play in the economic growth of the RD. “Representing 67.6% of the country’s total exports is a testament to the essentiality of free zones for the economic development and overall growth of our country,” said Bonilla Bojos.

He emphasized that the free zones are a key pillar in the generation of employment, economic growth and the attraction of foreign investment. Among the activities with the highest absolute growth compared to February 2023 are pharmaceutical products and medical instruments and equipment, with an increase in exports of US$60 million, equivalent to an increase of 17.4%.

In addition, recycling and sorting activities, plastic articles, cardboard, printed matter and stationery also experienced solid growth, with increases of 71.7%, 34.0%, 29.8% and 27.2%, respectively.

Pharmaceuticals and medical instruments and equipment activities, along with electrical and electronic products, were particularly noteworthy for their significant contribution to the overall picture, contributing 39.5% and 17.0%, respectively, accounting for a total of 56.5% of total FTZ exports by February 2024.

Source: proceso.com.do

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