Last year the commercial activity of the Panamanian Free Zone totaled $18,469 million, 10% less than what was reported in 2018.
From January to December 2019 imports in the Colon Free Zone (CFZ) totaled $8,655 million, and re-exports totaled $9,814 million, decreasing by 11% and 9% compared to the same period in 2018, respectively.
Regarding figures reported in December last year, a report of the General Comptroller of the Republic states that the value traded reached $ 1,391 million, 6% more compared to the same month in 2018.
In the first seven months of 2019, the commercial activity of the Panamanian Free Trade Zone totaled $10.782 million, 14% less than in the same period of 2018.
From January to July, imports in the Colon Free Zone (ZLC) totaled $5.224 million, and re-exports amounted to $5.557 million, decreasing by 12% and 16% compared to the same period in 2018, respectively.
Five months after the regulations for the creation of the Single Window of Procedures for the Colon Free Zone were approved in Panama, businessmen are asking for their implementation to be accelerated.
The Dominican Republic's free trade zones guild promises to reduce response times with the implementation of the Single Window for Foreign Trade of the General Directorate of Customs.
Simplifying procedures, transparency and security of processes, reduction of response times of requests, reduction of costs of stationery and office equipment, are some of the benefits that will enjoy for companies in areas with the implementation of the Single Window, informed the union.
With the creation of the new Colon Free Zone Committee, aims to promote synergies at the national and international levels to promote the growth of e-commerce in the Panamanian free trade zone.
The creation of this unit takes place in the context of a drop in commercial activity in the Colon Free Zone, since in the first three months of 2019 transactions totaled $4.446 million, 15% less than that recorded in the same period of 2018.
In the first three months of 2019, the commercial activity of the Panamanian Free Trade Zone reached $4.446 million, 15% less than that recorded in the same period of 2018.
In the first quarter of the year, imports in the Colon Free Zone (ZLC) totaled $2,151 million, and re-exports totaled $2,294 million, decreasing by 13% and 17% from January to March 2018, respectively.
In Panama, the Colon Free Zone established requirements for the issuance of special permits for the marketing of cigarettes, tobacco products and pharmaceuticals.
By means of Resolution No.008-2019, published in La Gaceta Oficial on April 25, 2019, it was informed that companies will have a maximum term of 120 calendar days to comply with the requirements of special permits for import, transfer, marketing, export and re-export of cigarettes and tobacco products.
In Panama, the regulations for the creation of the Single Window of Paperwork and its procedures to expedite trade in the free trade zone were approved.
"The Board of Directors of the Colon Free Zone (ZLC) approved the resolution that regulates the creation of the Single Window of Paperwork (VUT) and its procedures to expedite trade in the free trade zone, reported the manager of the free trade zone, Manuel Grimaldo," explained the ZLC.
The increase in Costa Rican exports during 2018 was mainly due to the performance of the 187 companies in the free zone, in contrast to the almost zero growth reported by companies exporting under the traditional scheme.
Figures from the Foreign Trade Promoter of Costa Rica (Procomer) detail that last year Costa Rica's exports totaled $11.312 million, 6% more than that recorded in 2017.
In accordance with what was reported during the first months of 2018, the commercial activity of the Panamanian Free Trade Zone at the end of the year totaled $20,931 million, 7% more than in 2017.
Figures from the Department of Statistics and Economic Studies of the Colon Free Zone (ZLC), highlight that in 2018 imports totaled $9,855 million, and re-exports amounted to $11,076 million, exceeding in 7% and 6% what was registered in 2017, respectively.
In accordance with what was reported months ago, from January to October 2018 the commercial activity of the Panamanian Free Trade Zone increased to $19.641 million, 10% more than that recorded in the same period of 2017.
In the first ten months of the year, imports into the Colon Free Zone (ZLC) totaled $9.199 million, and re-exports increased to $10.441 million, 9.5% and 9.6% higher than recorded from January to October 2017, respectively.
During the first nine months of the year, commercial activity in the Panamanian Free-Trade Zone exceeded $16 billion, 10% more than the same period in 2017.
In accordance with the figures reported between January and September of this year, imports in the Zona Libre de Colon (ZLC) reached $7.622 million up to October, and re-exports reached $8.464 million, exceeding in 10.4% and 10.3% what was registered in the first three quarters of 2017, respectively.
From January to July 2018, sales abroad from free zones in Costa Rica grew by 8%, well below the 12% increase registered in the first seven months of 2017.
According to data from the Foreign Trade Promotion Office (Procomer) between the first seven months of 2016 and the same period in 2017, exports of products in free zones went from $2.874 billion to $3.208 billion, representing an increase of 11.6%.
Between January and July 2018 the commercial activity of the free trade zone in Panama generated $12.618 billion, growing 8% over the same period last year.
The administration of the Colon Free Zone (ZLC) reported that "... the cumulative amount of the first seven months of 2018 was higher than the $11.643.3 billion in the same period in the previous year."
During the first semester of 2018, commercial activity in the free zone generated $10.781 billion, registering an increase of 8% with respect to the amount registered in the same period in 2017.
In line with the year-on-year increase of 11% reported in the first three months of the year, during the first half of the year, imports totaled $4.920 billion and re-exports amounted to $5.862 million, which exceeds by 5% and 19% respectively figures registered from January to June 2017.