Economy January 8, 2020 | 11:04 am

Free zones steered Dominican exports toward US$11.5B in 2019

Santo Domingo.- Dominican exports could reach US$11.5 billion at yearend of 2019, driven mainly by free zones, according to the Dominican Observatory of International Trade (ODCI).

The ODCI cites Customs agency and the Central Bank data to show that national exports were the fastest growing and could have reached up to US$5.1 billion, or 8.3% higher than in 2018.

Meanwhile free zone exports could have grown 3.1% to US$6.4 billion, or 56% of total exports, according to the entity in its quarterly Foreign Trade Panorama, corresponding to the period October-December 2019.

“Although this is a moderate growth and far from what is necessary, this rate is more than double that observed until September,” says ODCI, which is based at the Technological Institute of Santo Domingo (Intec).