Gold eases Dominican Republic US$2.3B trade deficit in Q1
Santo Domingo.- Dominican Republic’s perennial trade deficit was US$2.3 billion in the first quarter, or US$134 million higher than the same period last year.
According to the International Trade Barometer (BCI), the climb results from a slight increase in imports (2.5%) compared to a -1.5% fall in exports.
The exports of goods topped US$1.96 billion in that period, an increase of 0.48% compared with October to December 2015, and a -1.5% decline compared with the January-March quarter that year.
Imports surpassed US$4.25 billion, or 2.5% higher than the same quarter last year.
US, Canada and Haiti continue as Dominican Republic’s main export destinations, at 52.6%, 12.6% and 10.5%, respectively.
The country’s massive gold exports to Canada, or 67.9% of total, place that country in the top group.
Gold accounted for 17.7% of total exports, followed by medical instruments (10.2%) and cigars (7.0%).
Gold, medical instruments, cigars and circuit breakers are the products which cushion Dominican Republic’s trade deficit, and a favorable balance with Canada, Haiti, Switzerland, the Netherlands and Cuba.
Oct 6, 2016
Category: DR News |