NewsWhore
01-16-2009, 06:50 PM
Between November and December 2008 the trade deficit between the DR and US increased to US$2.5 billion, up from a US$1.6 billion deficit for the same period in 2007. This reflects an absolute change of US$910 million, or 57.49%. According to Hoy economist Luis H. Vargas, the drastic change in the trade deficit is due in part to the simultaneous increase in the value of imports, 12.32% (US$675.3 million) and the decrease in exports by 6.02% (US$234.9 million). Live animals and foods (US$564 million), metals and papers (US$34 million), minerals and lubricants (US$616 million), vegetable oils and animals (US$92.3 million), chemical products (US$495 million) and manufactured goods (US$549.7 million) all experienced deficits during 2008. Since the implementation of the DR-CAFTA, which was expected to lessen the deficit between signatory countries and the US, has totaled US$4.05 billion in a 21-month period.
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