Dominican Republic: Market for Articles of Goldsmiths’ or Silversmiths’ Wares of Precious Metals other than Silver 2024

Market Size for Articles of Goldsmiths’ or Silversmiths’ Wares of Precious Metals other than Silver in the Dominican Republic

In 2022, the Dominican market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver increased by 60% to $X, rising for the second year in a row after three years of decline. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Articles of Goldsmiths’ or Silversmiths’ Wares of Precious Metals other than Silver in the Dominican Republic

In value terms, production of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver shrank notably to $X in 2022 estimated in export price. Overall, production showed a deep contraction. Over the period under review, production of reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Articles of Goldsmiths’ or Silversmiths’ Wares of Precious Metals other than Silver

Exports from the Dominican Republic

In 2022, after two years of growth, there was significant decline in overseas shipments of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver, when their volume decreased by -85.7% to X kg. Over the period under review, exports saw a deep contraction. The growth pace was the most rapid in 2018 when exports increased by 200% against the previous year. As a result, the exports reached the peak of X kg. From 2019 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver reduced dramatically to $X in 2022. Overall, exports faced a sharp curtailment. The most prominent rate of growth was recorded in 2015 with an increase of 23,813% against the previous year. Over the period under review, the exports of reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X kg) was the main destination for exports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver from the Dominican Republic, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled -16.4%.

In value terms, the United States ($X) emerged as the key foreign market for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver exports from the Dominican Republic.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to -21.3%.

Export Prices by Country

In 2022, the average export price for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver amounted to $X per kg, with a decrease of -65% against the previous year. Overall, the export price continues to indicate a pronounced slump. The pace of growth was the most pronounced in 2015 when the average export price increased by 23,813% against the previous year. The export price peaked at $X per kg in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for Canada amounted to +922.6% per year.

Imports of Articles of Goldsmiths’ or Silversmiths’ Wares of Precious Metals other than Silver

Imports into the Dominican Republic

In 2022, supplies from abroad of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver decreased by -14.3% to X kg, falling for the second consecutive year after two years of decline. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 160%. Over the period under review, imports of reached the maximum at X kg in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver skyrocketed to $X in 2022. Overall, imports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2017 when imports increased by 10,013% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Spain (X kg), the United States (X kg) and Greece (X kg) were the main suppliers of imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to the Dominican Republic, together comprising 67% of total imports. Moreover, imports of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver in Spain exceeded the figures recorded by the second-largest supplier, the United States, twofold.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +7.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) constituted the largest supplier of articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver to the Dominican Republic, comprising 64% of total imports. The second position in the ranking was held by Turkey ($X), with an 18% share of total imports. It was followed by the United States, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain stood at +13.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (0.0% per year) and the United States (-8.4% per year).

Import Prices by Country

The average import price for articles of goldsmiths’ or silversmiths’ wares of precious metals other than silver stood at $X per ton in 2022, rising by 410% against the previous year. In general, the import price, however, saw a abrupt shrinkage. The pace of growth was the most pronounced in 2017 an increase of 3,790%. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Greece ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+5.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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