A sharp increase in international nickel prices has led ferronickel to make up 50% of the DR’s total exports in 2007, up from 18% in 2002, 22% in 2003, 42% in 2004, 33% in 2005 and 44% in 2006. In 2007 nickel represented 51.13% of the total value of Dominican exports, worth US$1.2 billion.