Gold eases Dominican Republic US$2.3B trade deficit in Q1
Santo Domingo.- DominicanRepublic’s perennial trade deficit was US$2.3 billion in the first quarter, or US$134million higher than the same period last year.
According to the InternationalTrade 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 toppedUS$1.96 billion in that period, an increase of 0.48% compared with October to December2015, and a -1.5% decline compared with the January-March quarter that year.
Imports surpassed US$4.25billion, or 2.5% higher than the same quarter last year.
US, Canada and Haiti continueas Dominican Republic’s main export destinations, at 52.6%, 12.6% and 10.5%,respectively.
The country’s massivegold exports to Canada, or 67.9% of total, place that country in the top group.
Gold accounted for17.7% of total exports, followed by medical instruments (10.2%) and cigars(7.0%).
Gold, medicalinstruments, cigars and circuit breakers are the products which cushion DominicanRepublic’s trade deficit, and a favorable balance with Canada, Haiti,Switzerland, the Netherlands and Cuba.