The Dominican Republic has not taken advantage of the DR-CAFTA free trade agreement with the United States, says Antonio Ciriaco Cruz, director of the School of Economics of the state university UASD. On the contrary, from 2013 to 2017, the country has accumulated a trade deficit of US$14.6 billion. US exports to the Dominican Republic have been US$37.09 billion, but the US has only imported US$22.5 billion.
The president of the Dominican Association of Exporters, Álvaro Sousa Sevilla, recently highlighted that for the first time Dominican exports in 2018 will surpass the US$10 billion mark, up from US$9.86 billion in 2016. Of the total, US$4.57 billion was exported to the United States.
The principal Dominican exports last year were: gold (US$1.64 billion), medical instruments (US$972 million), tobacco products (US$655 million), low tension protection equipment (US$402 million), and jewelry (US$396 million). Main imports were refined petrol products (US$1.46 billion), vehicles (US$891 million), pharmaceuticals (US$474 million), petrol (US$446 million).
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El Dia
6 February 2018
