Dominican Republic: Twine Product Market 2024

Twine Product Market Size in the Dominican Republic

The Dominican twine product market rose notably to $X in 2022, increasing by 12% against the previous year. Over the period under review, consumption saw a resilient expansion. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in years to come.

Twine Product Production in the Dominican Republic

In value terms, twine product production totaled $X in 2022 estimated in export price. Overall, production, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of 73%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Twine Product Exports

Exports from the Dominican Republic

In 2022, shipments abroad of articles of twine, cordage, rope or cables decreased by -59.2% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 187%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, twine product exports fell significantly to $X in 2022. In general, exports showed a abrupt descent. The pace of growth appeared the most rapid in 2014 with an increase of 160% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Haiti (X tons) was the main destination for twine product exports from the Dominican Republic, with a 89% share of total exports. Moreover, twine product exports to Haiti exceeded the volume sent to the second major destination, British Virgin Islands (X tons), more than tenfold. The United States (X tons) ranked third in terms of total exports with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Haiti was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: British Virgin Islands (+46.0% per year) and the United States (-32.2% per year).

In value terms, Haiti ($X) emerged as the key foreign market for articles of twine, cordage, rope or cables exports from the Dominican Republic, comprising 92% of total exports. The second position in the ranking was held by the United States ($X), with a 4.3% share of total exports. It was followed by British Virgin Islands, with a 1.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Haiti amounted to -1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-26.9% per year) and British Virgin Islands (+33.8% per year).

Export Prices by Country

The average twine product export price stood at $X per ton in 2022, shrinking by -28.5% against the previous year. Over the period under review, the export price, however, saw a moderate expansion. The most prominent rate of growth was recorded in 2016 when the average export price increased by 67%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Aruba ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+14.5%), while the prices for the other major destinations experienced mixed trend patterns.

Twine Product Imports

Imports into the Dominican Republic

In 2022, supplies from abroad of articles of twine, cordage, rope or cables increased by 34% to X tons, rising for the second consecutive year after two years of decline. In general, imports, however, saw a perceptible reduction. The pace of growth appeared the most rapid in 2014 when imports increased by 64%. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, twine product imports soared to $X in 2022. Over the period under review, imports, however, showed a perceptible downturn. The pace of growth was the most pronounced in 2014 with an increase of 77% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The United States (X tons), China (X tons) and Spain (X tons) were the main suppliers of twine product imports to the Dominican Republic, together accounting for 82% of total imports. Mexico, Poland and Germany lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +66.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of articles of twine, cordage, rope or cables to the Dominican Republic, comprising 45% of total imports. The second position in the ranking was taken by China ($X), with a 21% share of total imports. It was followed by Spain, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-4.7% per year) and Spain (+36.1% per year).

Import Prices by Country

In 2022, the average twine product import price amounted to $X per ton, increasing by 11% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 37% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+23.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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