Economy June 25, 2024 | 9:45 am

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Dominican Free Zones achieve record exports

Santo Domingo.- The Dominican Association of Free Zones (Adozona) announced on Monday that exports from free zones reached US$814.67 million in May 2024, marking a 5.7% increase compared to the previous year.

According to Adozona, the cumulative sales for the sector hit record highs, totaling US$3,507.50 million from January to May 2024, reflecting a growth of 7.4%. Over the past 12 months, free zone exports amounted to US$8,300.23 million, with expectations to surpass US$8,500 million by the end of 2024 if the current growth trend continues.

Reports from the General Directorate of Customs (DGA), cited by Adozona, indicated that total exports in May 2024 grew by 5.3% compared to May 2023, reaching US$1,218.86 million compared to US$1,157.02 million the previous year.

This growth was driven by national exports, which increased by 4.7% to US$368.72 million, and free zone exports, which reached a historic high of US$814.67 million.

Luis José Bonilla, president of Adozona, highlighted these results as indicative of the robust growth and competitiveness of the free zone sector in the Dominican Republic. He affirmed the commitment to continue strengthening this sector as a key driver of the national economy.

Adozona’s statement noted that the cumulative performance until May 2024 showed a positive trend, with total exports growing by 2.0% to US$5,201.75 million compared to US$5,100.71 million in the same period of 2023. Despite a slight decrease of 7.2%, national exports maintained a figure of US$1,569.15 million.

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