Q1 vehicle imports climb 6.5%; import cost falls RD$1.09B
Santo Domingo.- Industryand commerce minister Jose del Castillo on Wednesday said vehicle imports haveclimbed 6.5% in the first quarter, compared with 6.2% from January to Marchlast year.
Speaking to open thevehicle importers Anadive Fair the official said significantly lower domesticfuel prices have benefited the sector and its customers, citing RD$8.50 less onpremium gasoline and RD$5.00 for regular in the past seven weeks.
Castillo said there willbe further growth by year end noting that up to June 30 imports of new vehiclestopped 18,211 units while used ones exceeded 26,065.
DR-CAFTA trade deal
The official said theUS-Central America (DR-CAFTA) free trade agreement boosted the sector with anotable reduction in tariffs -from 20 to zero percent in four years, reducing importcosts by RD$1.09 billion.