Free Trade Zones register more than 5 billion dollars in exports

In the first eight months of this year, the free zone sector continued experiencing a sustained growth in its exports, which is evidenced by the 2.5% increase in exported values, by registering the figure of USD 5,363.6 million in exports during this period, compared to the USD 5,232.7 million registered in the same period last year.

According to statements made by the executive director of the National Council of Export Processing Zones (CNZFE), Daniel Liranzo, during the month of August 2023, the value of exports from free zones reached USD 672.9 million, for a growth of 1.5%, in relation to August 2022.

Liranzo indicated that practically all the productive sub-sectors of free zones registered increases in the value of their exports in the January-August period, the following as the most outstanding: Medical and Pharmaceutical Products (6.7%), Textile Manufacturing (9.1%), Electrical and Electronic Products (1.0%), Plastic Articles (36.8%) and Agro-industrial Products (17.3%).

He also highlighted that the sector currently represents more than 60% of the country’s total exports and that, due to the extraordinary performance it exhibits, it is expected to exceed 8 million dollars in exports by the end of 2023.

In a CNZFE press release, the head of the institution stated that the sector has 196,652 direct jobs, with Tobacco and its Derivatives as the largest generator of jobs, with 42,836 jobs; followed by Services with 39,600; Apparel and Textiles, with a total of 35,529. This is followed by Medical and Pharmaceutical Products with 31,895, as well as Electrical and Electronic Products with 10,742, among others.

Finally, he pointed out that this growth has been the result of the exhaustive work and public policies implemented by the current government headed by the President of the Republic, Mr. Luis Abinader Corona, to strengthen the investment climate in the free trade zones, which has led to the construction of new industrial warehouses to meet the solid development of the sector.

Source: presidencia.gov.do

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Dominican Republic Live Editor

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