DR/US trade deficit increases

[NewsWhore]

The trade deficit between the DR and the United States has grown to US$1.1 billion in the first eight months of the year, according to economist Luis Vargas, as reported in Hoy. During the same period in 2006 the US goods trade surplus was already at a record high of US$819 million. In 2005 the deficit stood at US$115 million. The DR had its last trade surplus with the US in 2004, when it was US$94 million. Economist Luis Vargas says that it is important to note that the increase in the trade deficit is a result of DR-CAFTA. Vargas says that the country is being affected by substitution of productive investments, job reductions, and substitution of local products for imported products. Vargas added that the trade deficit could lead to higher levels of debt in the form of inorganic emissions of certificates and notes from the Central Bank.
http://dr1.com/trade/categories/Trading-Partners/North-America/United-States/

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