Trade deficit bared: 3 of every 4 containers leave Dom. Rep. empty
Santo Domingo.- Dominican Republic Shipping Association (ANRD) president Teddy Heinsen on Thursday said the trade deficit compared with other world markets is cause for concern, as evidenced by the number of containers which come to the country, of which only 25% leave with export cargo.
He said of the 450,000 TEUs (equal to a 20′ container) which arrived full of imports in 2011, as many as 350,000 were reshipped empty, "placing us at a disadvantage with our international competitors."
The business leader said it’s urgent to bolster the export sector and local production, especially with funding, growth capacity, and heightened research and logistics.
He called on government officials to seek short-term goals to make the country the biggest supplier of the region, European and American markets, supporting exports. "This is the best way toward a better trade balance, as the current circumstances we generate overruns and consequentially a lack of competitiveness with other countries which are banking on being the best in exports."
"Our economy requires and needs to completely change such disadvantageous statistics, which persist even when we have advantages of distances, strategic position and an industry with high levels of efficiency," Heinsen said.