Exports from the Dominican Republic to SICA nations fell 43. 5%
SANTO DOMINGO. The exports of the Dominican Republic to the other countries that make up the Central American System of Integration (SICA) fell by 43.5% in 2013, according to a report offered by the National Statistics Office (ONE).
The document shows that the Dominican exports towards those countries reached the amount of US$186.0 million last year and in 2012 these sales represented US$329.34 million.
Nevertheless, the imports originating from the SICA countries did show an increase, going from US$610.8 million in 2012 to US$655.0 million in 2013, for an increase of 6.7%.
In addition, the exports represented 2.3% of the total merchandise sold by the country overseas, and for the same period in 2012, the participation was of 4.8%, which shows a 2.5% reduction in this item.
ONE explains that the analysis of the historical series of yearly statistics of the period between 2002 and 2013 on exports and imports, to and from the SICA nations, shows a negative annual result for the Dominican Republic.
The year 2006 was the year when the imports (US$853.0 million) from the members of the SICA bloc of countries registered the highest total, and also the biggest trade imbalance for the country with a negative result of US$786.6 million.
The report also stresses that from 2007 until 2012, the exports increased in greater proportion than the imports, which caused a reduction in the negative balance of payments for this set of countries.
“The example of this was 2012, when the imbalance was reduced to US$281.3 million, due to the fact that the exports grew by 102.9% and the imports by just 0.5%. Nevertheless, for 2013 they exported US$143.3 million less than the year before,” they pointed out.
In their report, ONE also recalls that starting in 2014, this country became a full member of SICA, and during the first semester of the year it occupies the Pro Tem Presidency of the organization. They explain that this condition will stimulate the development of the initiatives and projects on the sub-regional agenda, both in the economic as well as the social areas, which should benefit the participating nations: Guatemala, Belize, Honduras, El Salvador, Nicaragua, Costa Rica, Panama and Dominican Republic.
Category: DR News |