Record-Breaking Growth in Dominican Free Trade Zone Exports
As of May 2024, Adozona reported record-breaking exports exceeding US$3 billion, with a 5.7% year-over-year increase in May alone. The sector’s dynamism and investment potential are highlighted by this growth, which has a significant impact on the national economy.
As of May 2024, US$3 billion in free trade zone exports has been reported as the new record by Adozona of the Dominican Free Trade Zones Association (Adozona). According to the General Directorate of Customs (DGA), total exports in May 2024 increased by 5.3% compared to May 2023, totaling US$1.21886 billion. Notably, domestic exports reached US$368.72 million, while free trade zone exports surpassed US$800 million for the first time, reaching US$814.67 million, a 5.7% increase from May 2023.
Year-to-Date Performance
Up to May 2024, cumulative exports showed a 2% rise, totaling US$5.20175 billion. Free trade zone exports reached a record amount of US$3.5075 billion, which was 7.4% above what was expected, despite a 7.2% decline in domestic exports to US$1.56915 billion.
Annualized export growth
Annualized exports from free trade zones for the past 12 months hit a historic high of US$8.30023 billion, with expectations of surpassing US$8.5 billion by the end of 2024 if the current growth trend continues.