DR Free Zone Exports Increase
Dominican Free Zone Exports increased in the first quarter of 2015 according to Dominican export trade data issued by the Dominican Republic Government, at a rate of 6.2%, which is the highest increase value since the year 2011.
The USA market is the number one country for highest demand of Dominican free zone exports, as per the data revealed by the Dominican Free Zones Council.
The sectors that motivated growth of Dominican free zone exports were the textile products, shoes, chemical products, fabrication of medical equipment and clothing accessories. Clothing accessories and complements registered a 25.9% growth, followed by the cigar sector with a 22.1% growth, shoes with 7.7%, and electrical products, 3.99%.
Dominican free zone exports are possible thanks to Law 8-90 of Promotion of Free Zones of the Dominican Republic, which defines the free zone as a geographic area subject to special customs and tax controls, where the installation of enterprises that destine their production or services to the international market is permitted, through the granting of the tax and customs incentives necessary to promote their development.
Copyright © 2016. Arthur & Castillo