NewsWhore
09-07-2007, 02:21 PM
According to US International Trade Commission statistics on trade between the US and the DR for the first half of the year, the United States is the big winner in the start of the implementation of the free trade agreement, DR-CAFTA. US exports to the DR are up 12.67%, from US$2,487.5 million from Jan-June 2006 to US$2,802.6 million for the same period in 2007. Dominican exports to the US, nevertheless, have declined from RD$2,162.5 million for the first half of 2006 to RD$2,060.2 million for Jan-June 2007, for a 4.73% decline. The DR had a negative balance of US$742.3 million with the US for the first half of the year, up from US$325 million for the first half of 2006.
In 2004, the DR had a favorable merchandise trade balance of US$185.5 million with the US. This slid to a negative balance of US$104.9 million in 2005 and US$818.8 million for all of 2006.
The growth of the trade deficit stemmed principally from the decline in apparel exports due to competition from China. A strong peso and increasing local production costs also affected the capacity of the country to compete with US imports from Asia, following the elimination of quotas in 2005.
The DR is the seventh largest importer of US goods in the western hemisphere, after Canada, Mexico, Brazil, Venezuela, Colombia and Chile. It is the 11th largest exporter in the western hemisphere, after Canada, Mexico, Venezuela, Brazil, Chile, Colombia, Ecuador, Peru, Argentina and Costa Rica.
For more information, see www.itc.gov (http://www.itc.gov)
More... (http://www.dr1.com/index.html#2)
In 2004, the DR had a favorable merchandise trade balance of US$185.5 million with the US. This slid to a negative balance of US$104.9 million in 2005 and US$818.8 million for all of 2006.
The growth of the trade deficit stemmed principally from the decline in apparel exports due to competition from China. A strong peso and increasing local production costs also affected the capacity of the country to compete with US imports from Asia, following the elimination of quotas in 2005.
The DR is the seventh largest importer of US goods in the western hemisphere, after Canada, Mexico, Brazil, Venezuela, Colombia and Chile. It is the 11th largest exporter in the western hemisphere, after Canada, Mexico, Venezuela, Brazil, Chile, Colombia, Ecuador, Peru, Argentina and Costa Rica.
For more information, see www.itc.gov (http://www.itc.gov)
More... (http://www.dr1.com/index.html#2)