The nation’s over-collection reflects a recovery in consumption, according to the head of customs

Director of the National Customs Administration, Julio Fernandez, confirmed that economic recovery is taking place, which can be demonstrated by increased customs collection, and that in the first half of the year there was a 19% increase in revenue, compared to the first six months of 2020.

According to Fernandez, both the economic recovery and the collection surplus are explained by the revitalization of domestic consumption. This is also reflected in increased imports, especially of some specific items.

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“The economy is recovering, and there is a very good collection at the moment. Fuel, the tourism system and the sale of vehicles, among other things, are the most moving, and this largely explains the surplus this month and the accumulated surplus,” Fernandez said after meeting with the President of the Republic this morning.

Julio Fernandez, Director of the National Customs Administration (DNA). Photo: GEN.

For a head of DNA, it is comforting to think and see that the economy is recovering, because it also means a recovery of consumption, as well as an increase in imports, and thus increased revenue.

In this sense, the monthly customs report indicates that customs revenues for the first semester of the year amounted to 5.17 billion c, equivalent to about 774.9 million US dollars, compared to the collections from January to June of the previous year, when the value c. 4.34 billion. It was also highlighted that there was a 4% surplus compared to the same period in 2019, a year without a pandemic.

It should be noted that the cumulative increase is largely due to the increase in imports in June, for key items such as automobiles (48.3%), capital goods (53.4%), information and communication technology (38, 1%), and spare parts. Or auto parts (30.5%), fertilizers (31.1%), chemical products (17%), plastics and articles thereof (58.6%), beverages (30.4%), among the most important.

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Similarly, Fernandez has made it clear that they will purchase two scanners with their DNA money and that they will soon solicit bids, which they hope will be ready by the end of the year.

“We agree with the Ministry of Planning and International Cooperation to implement scanners for future bridges that are under construction. We hope that we will not have any problems with bids. In this regard, he added, there is great interest in providing the scanner.”

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