{"id":7864,"date":"2022-07-14T21:43:16","date_gmt":"2022-07-14T21:43:16","guid":{"rendered":"https:\/\/dmklawyers.com\/?p=7864"},"modified":"2022-07-15T21:15:03","modified_gmt":"2022-07-15T21:15:03","slug":"free-zones-account-for-77-1-of-the-growth-in-exports-in-the-first-five-months-of-the-year","status":"publish","type":"post","link":"https:\/\/dmklawyers.com\/en\/free-zones-account-for-77-1-of-the-growth-in-exports-in-the-first-five-months-of-the-year\/","title":{"rendered":"Free Zones account for 77.1% of the growth in exports in the first five months of the year"},"content":{"rendered":"\n<p>Free zones accounted for 77.1% of the country&#8217;s total export growth, and therefore to the economic recovery.&nbsp; 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).<\/p>\n\n\n\n<p>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 \u2013 May 2021, followed by textile manufacturing (23.7%), medical and pharmaceutical devices (21.4%), and tobacco and its derivatives (8.2%).<\/p>\n\n\n\n<p>According to the Minister of Industry, Trade and MSMEs, V\u00edctor -Ito- Bison\u00f3, the free zones have the highest incidence in the country&#8217;s total exports and maintain a predominant participation in the Dominican export structure. &#8220;Under President Abinader\u2019s 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,&#8221; the minister said.<\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>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.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Free zones accounted for 77.1% of the country&#8217;s total export growth, and therefore to the economic recovery.&nbsp; 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&#8230;<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[149],"tags":[],"class_list":["post-7864","post","type-post","status-publish","format-standard","hentry","category-investment-in-dr"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.7 - 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