Registered enterprises in the Freeport Area of Bataan (FAB) were able to operate strongly and productively towards accelerating trade, as the Authority of the Freeport Area of Bataan recorded a total of $571.2 million in export transactions and $538 million in import transactions as of August 2022.
This figured lead to the net trade balance of $33.2 million that posts a positive net contribution to the country’s gross domestic product (GDP).
The AFAB has also witnessed significant developments in port activities and performance as of August. A spike in revenue coming from port services-related transactions within the FAB was reported, representing a 32% increase in comparison to the previous year.
Because of these operational improvements, the AFAB has been able to consistently contribute significant shares to the national government through its dividends and tax remittances. These helped fund the country’s continuing efforts to curb the spread of COVID-19 and provide economic relief to pandemic-hit businesses and individuals.