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Dominican Today, Dom Rep, August 12, 2010

Slumping Dominican exports to Canada spur an 18% fall in trade

MIAMI.- Dominican trade with Canada fell 17.9 percent to 282 million Canadian dollars last year. Dominican exports to Canada fell 13.8 percent to 148 million Canadian dollars, while imports declined 37 percent to 134 million Canadian dollars.

However, despite the steep fall in imports, the Dominican Republic remains the 10th-largest market in Latin America for Canadian products, according to analysis of data from Statistics Canada by the Miami based Latin Business Chronicle.

It is also Canada’s top market within the CAFTA trade group, which includes Central America and the Dominican Republic.

The Dominican Republic fared better than Cuba, which saw its Canada trade drop 50 percent in 2009 to 816 million Canadian dollars.

Overall, Canada’s trade with Latin America declined last year by 12 percent to 38.2 billion Canadian dollars (US$33.4 billion).  Canada’s exports to Latin America fell 25.3 percent to 10.1 billion Canadian dollars, while imports from the region declined 5.9 percent to 28.1 billion Canadian dollars.

Mexico remains Canada’s top partner, but Ecuador saw the strongest growth last year in percentage terms, according to the Latin Business Chronicle analysis.

For the full story, visit: www.latinbusinesschronicle.com/app/article.aspx?id=4439

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