NewsWhore
09-12-2008, 05:30 PM
The trade deficit between the US and the DR was at US$1.6 billion for the first seven months of year. The continued deficit in trade (when imports are higher than exports) is raising concerns about the DR-CAFTA agreement and its benefits for the DR. Critics say that these numbers contradict trends for other Latin American nations, which have shown a surplus in trade with the US during the same period. The rate at which the deficit is growing is also causing deep concern. During the first seven months of the year the deficit grew by 83.7%. For the same period in 2007 the deficit was only US$863 million. According to Hoy, there was a 19.5% increase in the value of imports, from US$3.3 billion to US$3.94 billion and a reduction in the value of exports, which went from US$2.431 billion to US$3.4 billion. Since DR-CAFTA went into effect in March 2007, a US$3.14 billion trade deficit has been accumulated over the 17-month period.
Hoy economic reporter Luis H. Vargas writes that economic policies in place have increased domestic costs making exports more expensive, at a time when the cost of imports has declined.
Vargas quotes a study by the US Commerce Department indicating the value of DR export values slipped from US$2.43 billion to US$2.35 billion. This downward trend dates to 2006 when export values dropped from US$4.53 billion in 2006 to US$4.21 billion in 2007. Meanwhile imports have increased at a faster pace. Vargas says that imports were valued at US$3.29 billion between January-July 2007 and grew to US$3.98 billion for the same period in 2008. This compared to the previous year increases, when imports increased from US$5.35 billion in 2006 to US$6.08 billion in 2007.
More... (http://www.dr1.com/index.html#7)
Hoy economic reporter Luis H. Vargas writes that economic policies in place have increased domestic costs making exports more expensive, at a time when the cost of imports has declined.
Vargas quotes a study by the US Commerce Department indicating the value of DR export values slipped from US$2.43 billion to US$2.35 billion. This downward trend dates to 2006 when export values dropped from US$4.53 billion in 2006 to US$4.21 billion in 2007. Meanwhile imports have increased at a faster pace. Vargas says that imports were valued at US$3.29 billion between January-July 2007 and grew to US$3.98 billion for the same period in 2008. This compared to the previous year increases, when imports increased from US$5.35 billion in 2006 to US$6.08 billion in 2007.
More... (http://www.dr1.com/index.html#7)