Activity in Colon Free Zone near pre-pandemic levels

The Colon Free Zone reported transactions of $14.94 billion from January to October this year,  up 27%  from the movement registered in the same period last year.

The second-largest commercial area in the world is close to recovering the movement it registered before the pandemic that kept it paralyzed for over six months last year.

According to a report from the ZLC administration, the commercial movement registered until last October is 4% lower than the number of transactions reported in the first 10 months of 2019, when $15,582 billion were registered.

Edwin Chen, president of the ZLC Users Association, commented that the data recorded to date is positive and reflects a tendency to regain the rhythm that was interrupted by the pandemic.

“The numbers are positive and we are confident that the positive trend will reinforce during 2022, but we must work so that the recovery is the same for all the companies that operate in the ZLC,” Chen said.

In the breakdown of the commercial movement, it is observed that China is the main supplier of the companies that operate in the ZLC, followed by the United States, Mexico, and Hong Kong; while Costa Rica, Guatemala, Colombia, Venezuela, and Honduras are the main destinations for re-exports.

The sale of electronic, pharmaceutical, chemical, perfumery, and cosmetic products, clothing in general, common metals, and alcoholic beverages remain among the main drivers of growth in the free zone.