The Dominican Free Zones Association (Adozona) reports record exports of US$3 billion in May 2024, according to data from the Customs Agency (DGA).
Exports in May 2024 were up 5.3% compared to May 2023, with a value of US$1,218.86 million, compared to US$1,157.02 million in the previous year.
Adozona highlights the export growth is particularly noteworthy in national exports (those not under the free zone regime) which grew by 4.7% to reach US$368.72 million, and free trade zone exports, which exceeded US$800 million for the first time in history, reaching a value of US$814.67 million, reflecting a 5.7% increase compared to May 2023.
“These results are a clear indication of the robust growth and competitiveness of the free trade zone sector in the Dominican Republic. We will continue working to strengthen this important driver of the national economy,” assured Luis José Bonilla Bojos, president of Adozona.
The accumulated performance up to May 2024 also shows a positive trend, with a 2.0% growth in total exports, reaching US$5,201.75 million, compared to US$5,100.71 million accumulated up to May 2023. National exports, despite a slight decrease of 7.2%, are at the significant level of US$1,569.15 million, while free trade zone exports set a record with US$3,507.50 million, representing an increase of 7.4%.
In addition, annualized free trade zone exports for the last 12 months reached a historic figure of US$8,300.23 million, suggesting a possible surpassing of the US$8,500 million mark by the end of 2024, if this growth trend continues.
These results reflect the dynamism and strength of the free trade zone sector in the national economy, which contributes significantly to the country’s growth and development.
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La Informacion
25 June 2024