Domestic imports increase 40.3% in first eight months of 2021

Domestic imports increase by 40.3% in first eight months of 2021

The Dominican Republic imported US$15,285.2 million during the first eight months of the year, exceeding the same period of 2020 (US$10,890 million) by US$4,395.5 million (40.3%). Imports exceeded exports by US$7,507.9 million, that is, the difference in the trade balance is equivalent to 96%.

Imports are divided into three segments: national imports with US$12,096.7 million, equivalent to 79% of the total, and free trade zones with US$3,110 million (20.3%), a phenomenon that is reversed in exports where free trade zones represent 60.2% of Dominican exports.

Fuels and mineral oils are the most imported consumer good and/or raw material in the country, registering a volume of US$2,294.6 million during the first eight months of this year. This amount represents 15% of total imports. During this same period in 2020, US$1,372.1 million were imported for this concept, reflecting a difference of US$922.5 million, or 67% more.

According to statistics of the General Directorate of Customs (DGA), plastics and its manufactures are the second most imported raw material, reaching US$1,195.1 million, equivalent to 8% of total imports. Comparing this figure with the same period last year, when US$850.7 million were reported, there is an absolute increase of US$344.4 million (40.4%).

Other raw materials with a high volume of imports are foundry, iron and steel products, which reached US$564.7 million, while in the same period of 2020, this item registered US$273.5 million, reflecting a difference of US$291.2 million, i.e. 106% more than last year. This reflects the negative impact of the pandemic on world trade.

Within capital goods, the segment with the highest reported value was machinery, equipment and electrical material, which during January-August reported imports of US$1,047.4 million, representing 6.8% of total imports.

According to official reports, among the most purchased consumer goods are pharmaceutical products with US$875 million imported, while automobiles, tractors, their parts and accessories registered, up to August 2021, US$1,109.4 million.

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