Numerous free trade zones make the Dominican Republic attractive to export-import businesses. Some FTZ businesses moved to Mexico after the NAFTA agreement.
Clothing production brings in the majority of export revenues (32%), but the commodity market also supports the export of pig iron (7.8%), medical instruments (7.7%), sugar (5.6%), and electrical parts (5.1%). Dominican Republic imports include food, petroleum, cotton and fabrics, chemicals, and pharmaceuticals.
Principal trading partners in 1998 (in millions of US dollars) were as follows:
COUNTRY | EXPORTS | IMPORTS | BALANCE |
United States | 4,338 | 5,454 | -1,116 |
Belgium-Luxembourg | 103 | 24 | 79 |
United Kingdom | 102 | 42 | 60 |
Germany | 28 | 90 | -62 |
Korea | 28 | 122 | -94 |
Italy | 27 | 82 | -55 |
France | 26 | 32 | -6 |
Spain | 24 | 193 | -169 |
Japan | 20 | 242 | -222 |
Mexico | 13 | 330 | -317 |
Venezuela | 2 | 487 | -485 |
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