articulo-10-2018

Free zone exports have grown some 35% over the least seven years, increasing from US$4.2175 billion in 2010 to US$4,695 billion in 2017, which makes it one of the fastest growing economic sectors of the Dominican Republic.

This was confirmed by Federico Domínguez and José Manuel Torres, president and executive vice president of the Dominican Free Zone Association (ADOZONA), respectively. They pointed out that free zone exports represent 60% of the country´s total exports, and are targeted at 131 countries around the world on five continents.

In addition, it´s estimated that this volume of exports makes free zones the third-largest generator of foreign currency in the Dominican Republic, after tourism and remittances from Dominicans living abroad.

They emphasized that the Dominican Republic has managed to position itself as one of the main international suppliers of world-class articles such as medical components, pharmaceutical, and electronic products, textile manufacturing, cigars, jewelry, and footwear, among others.

Torres indicated that the diversification achieved by the sector over recent years lends it much more strength. He stated that in 2010 some 53% of free zone companies were dedicated to textiles and clothing assembly, whereas in 2016 the figure dropped to 20% while other sectors increased. For example, medical and pharmaceutical products, which had represented 12% in 2010, rose to 27%. Currently other percentages are 14% occupied by electrical products, tobacco and derivatives with 13%; footwear with 8%; jewelry with 7%; and other sectors with 11%.