The Dominican Free Trade Zones Association (Adozona) highlighted a new record in free trade zone exports, according to recently published data by the General Directorate of Customs (DGA), revealing that exports from free trade zones exceeded US$3 billion as of May 2024.
According to these reports, total exports in May 2024 saw a 5.3% increase compared to May 2023, totaling US$1.21886 billion, up from US$1.15702 billion the previous year. This growth was particularly notable in two key areas: domestic exports grew by 4.7% to US$368.72 million, and exports from free trade zones surpassed US$800 million for the first time in history, reaching US$814.67 million, reflecting a 5.7% increase compared to May 2023.
“These results are a clear indicator of the robust growth and competitiveness of the free trade zone sector in the Dominican Republic. We will continue working to strengthen this important engine of the national economy,” stated Luis José Bonilla Bojos, President of Adozona.
The cumulative performance up to May 2024 also showed positive trends, with a 2.0% increase in total exports reaching US$5.20175 billion, up from US$5.10071 billion accumulated by May 2023. Despite a slight decrease of 7.2% in domestic exports, which totaled US$1.56915 billion, free trade zone exports set a record with US$3.5075 billion, marking a 7.4% increase.
Furthermore, the annualized exports from free trade zones for the last 12 months reached a historic figure of US$8.30023 billion, suggesting a potential surpassing of the US$8.5 billion mark by the end of 2024 if this growth trajectory is maintained.
These results reflect the dynamism and strength of the free trade zone sector in the national economy, significantly contributing to the country’s growth and development.
Adozona reiterated its commitment to supporting this strategic sector and continuing to work collaboratively with authorities and businesses to promote an environment conducive to investment and the expansion of exports.
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