Exports from Colombia’s free-trade zones spiked more than 35% in October compared to the same month in 2015, jumping from $180.4 million USD in October 2015 to $244.1 million this year, according to the nation’s statistical agency.
The news is even better in year-to-date terms. Exports from free-trade zones from January through October in 2016 were 52.9% higher than the equivalent period in 2015, the National Administrative Department of Statistics (DANE) reported this week.
October free-zone imports, by contrast, were up just 8.8%. Their value increased from $186.3 million USD in October 2015 to $202.7 million USD in 2016.
Colombia has a wide range of free-trade zones throughout the country. Companies in sectors including services, agribusiness, and manufacturing are eligible for the incentives offered in these areas.