The Dominican Association of Free Zones (Adozona) reports exports this year are up 10%, reaching US$6.53 billion for the first ten months of the year. This is a new record for January-October. The announcement was made by the president of Adozona, Luis Jose Bonilla Bojos on occasion of National Free Zone Day. President Luis Abinader was present for the celebration.
Customs Agency (DGA) data indicates exports increased from US$5.94 billion in 2021 to US$6.53 billion in 2022, more than US$591 million in exports.
The 10% increase is attributed to:
Medical devices exports were up 20.6% from US$970.24 million (2021) to US$1.17 billion in 2022, for US$199.47 million more.
Apparel exports were up 15%, from US$709.11 million (2021) to US$820.38 million (2022), for US$111.28 million more.
Plastics exports were up 45.8%, from US$200.96 million (2021) to US$292.92 million (2022), an additional US$91.97 million.
The president of Adozona said total free zone exports for pre-pandemic January – October 2019, were US$5.04 billion. This means, the 2022 ten month total is 29.4% more when compared to the pre-pandemic year.
“We continue to exceed expectations and numbers, undoubtedly the result of a great effort of the entire sector, to boost and energize the economy of the Dominican Republic,” Bonilla Bojos highlighted.
Bonilla forecast exports of the sector will exceed US$10 billion by the end of 2022, more than US$8 billion in exports of goods and the rest in exports of services, with a net foreign exchange generation of US$1.7 billion.
During the activity, Bonilla said the free zone sector is forecast to experience a GDP growth of 9.2% and with a total impact on the national economy of 7.2% of the GDP.
In the last two years, 187 new companies have been approved to operate. At present, the free zone sector has 740 companies and 81 industrial parks in operation, which is a sign of the commitment to exports as the foundation of the country’s economic growth, both from the private sector and the government.
The Dominican Republic exports products to more than 135 countries, several of which have reached the category of world leaders.
Read more in Spanish:
Adozona
El Caribe
N Digital
29 November 2022