The Dominican Republic’s free zones continue to set new records, with a historic monthly export performance in May 2024, reaching US$814.7 million in exports, surpassing the milestone reached in April of this year by 2.7%, according to records from the General Customs Agency (DGA.
Daniel Liranzo, executive director of the National Council of Free Zones for Export (CNZFE), highlighted the extraordinary performance of the sector’s production in the first five months of 2024, measured in terms of exports.
He also noted that the sector has an increasingly diversified export offering, highlighting the performance of the jewelry subsector, with a 14.7% growth in exports in the period January-May 2024, compared to January-May 2023. Cardboard, printing and stationery were up 27.1%, metals and manufactured products 5.5% and agro-industrial products report a 3.6% increase.
Liranzo also emphasized the good results of the traditionally leading export subsectors, such as medical and pharmaceutical products, with a growth of 16.7% in exports in the period January-May 2024, compared to January-May 2023; tobacco and its derivatives up 8.9%; plastic articles up 3.6%; among others.
Liranzo highlighted new measures and initiatives to support the free zones, such as the creation of the Presidential Cabinet for the Development of Exports; the Zero Bureaucracy Program and the Industrialization Plan have positively impacted the dynamism of the sector.
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Presidency
17 June 2024