NewsWhore
10-10-2007, 03:00 PM
Dominican exports grew by 63% during the first eight months of the year, reaching US$1.57 billion, up from US$962 million for the same period in 2006. Diario Libre says that behind the increase are the much better prices for ferronickel on the world market. According to the Center for Exports and Investment (CEI-DR) the value of nickel has nearly doubled. But all is not rosy, with exports to Canada, Haiti, Puerto Rico and Jamaica falling. The loss of exports to Canada was particularly noteworthy with a 47% decrease. Exports to Haiti, the second most important trading partner for the DR, fell by 3%, Puerto Rico fell by 3.7% and Jamaica saw a 7.5% reduction. On the up side, however, were increases of US$140 million in exports to the US; US$38 million to Korea (including controversial copper exports); US$45 million to Belgium; US$44 million to Japan; US$39 million to Spain and US$10 million to China. Traditional exports grew by 6.9% and non-traditional exports grew by 29%, buoyed by nickel's 125% increase.
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