Dominican Republic: Biological Product Market 2024

Biological Product Market Size in the Dominican Republic

The Dominican biological product market declined rapidly to $X in 2022, with a decrease of X% against the previous year. Overall, consumption, however, saw a noticeable increase. As a result, consumption reached the peak level of $X, and then contracted dramatically in the following year.

Biological Product Production in the Dominican Republic

In value terms, biological product production declined to $X in 2022 estimated in export price. Overall, production, however, saw a measured increase. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Biological Product Exports

Exports from the Dominican Republic

In 2022, shipments abroad of biological products decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, biological product exports surged to $X in 2022. Overall, exports, however, saw a noticeable increase. The growth pace was the most rapid in 2013 when exports increased by X%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for biological product exports from the Dominican Republic, accounting for a X% share of total exports. Moreover, biological product exports to the United States exceeded the volume sent to the second major destination, Haiti (X tons), twofold. Spain (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (X% per year) and Spain (X% per year).

In value terms, the largest markets for biological product exported from the Dominican Republic were Spain ($X), the United States ($X) and Haiti ($X), together comprising X% of total exports.

In terms of the main countries of destination, Spain, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average biological product export price stood at $X per ton in 2022, surging by X% against the previous year. Overall, the export price showed a perceptible expansion. The most prominent rate of growth was recorded in 2020 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Haiti ($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 Peru (X%), while the prices for the other major destinations experienced more modest paces of growth.

Biological Product Imports

Imports into the Dominican Republic

In 2022, after two years of growth, there was significant decline in overseas purchases of biological products, when their volume decreased by X% to X tons. In general, imports, however, saw strong growth. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then fell notably in the following year.

In value terms, biological product imports contracted notably to $X in 2022. Over the period under review, imports, however, continue to indicate a notable increase. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of $X, and then reduced remarkably in the following year.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of biological product to the Dominican Republic, accounting for a X% share of total imports. Moreover, biological product imports from the United States exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. The third position in this ranking was taken by Germany (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Germany (X% per year).

In value terms, Germany ($X), the United States ($X) and Italy ($X) constituted the largest biological product suppliers to the Dominican Republic, together accounting for X% of total imports. China, South Korea, Brazil and Japan lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Brazil, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average biological product import price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the import price, however, showed a abrupt setback. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The import price peaked at $X,606 per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X,164 per ton), while the price for Italy ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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