Free zones accounted for 77.1% of the country’s total export growth, and therefore to the economic recovery. From January to May of this year accumulated exports totaled US$3,178.1 million, being the highest amount exported since 2012, according to figures from the General Directorate of Customs (DGA).
Accounting for 61.8% in total exports, the sector maintains its positive performance and its exports grew 12.2% in the first five months of the year, i.e., US$345.9 million more than in January-May 2021, according to the report. A breakdown of the subsectors shows plastic articles showed the highest relative growth with 43.2% compared to January – May 2021, followed by textile manufacturing (23.7%), medical and pharmaceutical devices (21.4%), and tobacco and its derivatives (8.2%).
According to the Minister of Industry, Trade and MSMEs, Víctor -Ito- Bisonó, the free zones have the highest incidence in the country’s total exports and maintain a predominant participation in the Dominican export structure. “Under President Abinader’s leadership the investment climate has been strengthened, supported by political, economic and social stability conducive to the growth of foreign direct investment in the country,” the minister said.
As for the destination of exports, the USA is still the main recipient with 72.8%; followed by Haiti receiving 6.3%, and Puerto Rico which receives 4.5% of the exported goods and services produced by industries in the Dominican Republic.
The free zones are well rooted in the country, contributing to the creation of direct jobs, professionalizing the Dominican workforce, promoting the national productive chain and the growth of exports.
An evidently significant aspect is the strengthening of the productive chain between the free zones and the national manufacturing industry, since there is a year-on-year growth of 8.8% of local purchases during the first quarter of the year, compared to the same period of 2021. From January to April of this year, RD$35,939 million in local purchases from free zones were recorded, i.e., more than RD$2,900 million above the RD$33,041 million reached last year.
Source:
Listín Diario
