iContainers, the 100 percent online freight forwarder, has launched a new branch in the Dominican Republic. The new office, located in Santo Domingo, will manage the freight needs of exporters and importers in the island nation. Given the Dominican Republic’s strategic location in the Caribbean, iContainers will aim to generate powerful synergies between the new establishment and their existing offices in the US and Spain – the two principal markets serving the Dominican Republic.
Global expansion
iContainers has experienced significant growth over the past year. Having just expanded to Rotterdam in the Netherlands late last November, the new office in Santo Domingo is iContainers’ second new opening in five months. With offices already established in Barcelona, Miami, and Rotterdam, iContainers is now adding a third continent to its list.
The new venture marks a step forward in the company’s aim to be present in all logistics hubs of the world as part of its global expansion plan. The freight forwarder says it will be undertaking rapid expansions in the area, with further openings in South America already planned for the second half of the year.
Great prospects in Dominican Republic
With the launch of the Dominican branch, iContainers can develop its commercial network in the Americas and more specifically, the Caribbean.
“Our objective is to continue expanding in Central and South America, which are two of the main markets for our offices in the US and Spain,” says Iván Tintoré, president and co-founder of iContainers.
“The potential of the Dominican Republic is undisputable. It has a dynamic economy which has recorded a 7% growth over the past five years, and a strong relationship with the Spanish and American markets. All these offer an interesting opportunity to develop routes and establish high quality door-to-door services.”
Dominican Republic market figures
The Caribbean nation’s commercial activities reach up to some $30 billion annually, with imports representing some 63% of overall trade in 2015. Of the main countries from which it imports, the US tops the list with $6.9 billion of imports, followed by China with $2.2 billion, Mexico with $800 million, Brazil with $610 million and Spain with $540 million. Of these imports, between 60% to 65% are negotiated in the Dominican Republic.
With regards to exports, the US, again, tops the list with $4.7 billion, followed by neighboring Haiti with $1 billion, Canada with $777 million, and India and Germany with $604 million and $213 million respectively.
