Colon Free Zone: Activity Up 7% in 2018

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.

Manuel Grimaldo, ZLC manager, told Laestrella.com.pa that the growth reported last year is because of “… the marketing strategy focused on three areas: ‘attracting new buyers, developing and promoting logistics operators, and promoting shopping tourism in Central America and the Caribbean’.”

The article reviews that “… Contrary to Grimaldo’s statement, economist Aristides Hernández, president of the consulting firm AIH Capital, believes that the ZLC faces a much greater challenge, since the figure reached is only an indication that ‘the ZLC lost more than a third of its business, considering what it achieved in 2012, with $30 billion’. He clarified that ‘it would not be prudent that the main free trade zone of the Isthmus is in recovery, as it comes from five years of low figures’.”

Source CentralAmericaData