Santo Domingo.- The value of imports climbed 17% last year, driven mostly by rising oil prices in global markets and the purchase of finished products, such as spare parts and food, as well as raw materials.
Dominican Central Bank data show that imports totaled US$20.2 billion over the past period, and practically doubled that of total exports, of US$10.9 billion in that same year.
Oil purchases abroad – which accounted for 19% of the total imported amount – jumped by 30% in 2018, or US$3.7 billion.
Meanwhile, non-oil imports, dominated by consumer durables, food, spare parts for machinery and foundries, reached US$16.7 billion, a 11% jump, according to Central Bank data.