Dominican Republic: Boring Machinery Market 2024

Boring Machinery Market Size in the Dominican Republic

The Dominican boring machinery market reduced modestly to $X in 2022, almost unchanged from the previous year. In general, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +3.8% against 2020 indices. Boring machinery consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Boring Machinery Production in the Dominican Republic

In value terms, boring machinery production declined to $X in 2022 estimated in export price. Overall, the total production indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.3% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of 65% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Boring Machinery Exports

Exports from the Dominican Republic

In 2022, the amount of boring or sinking machinery exported from the Dominican Republic shrank significantly to X units, reducing by -40% on 2021. Overall, exports, however, continue to indicate measured growth. The most prominent rate of growth was recorded in 2021 when exports increased by 400%. Over the period under review, the exports reached the maximum at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, boring machinery exports declined remarkably to $X in 2022. Over the period under review, exports, however, recorded a modest increase. The growth pace was the most rapid in 2017 when exports increased by 459% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Haiti (X units) and Panama (X units) were the main destinations of boring machinery exports from the Dominican Republic. Moreover, boring machinery exports in Haiti exceeded the figures recorded by the second-largest exporter, Panama, twofold.

From 2012 to 2022, the biggest increases were recorded for Panama (with a CAGR of 0.0%).

In value terms, Haiti ($X) remains the key foreign market for boring or sinking machinery exports from the Dominican Republic, comprising 76% of total exports. The second position in the ranking was taken by Panama ($X), with a 24% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Haiti totaled +54.0%.

Export Prices by Country

In 2022, the average boring machinery export price amounted to $X per unit, picking up by 16% against the previous year. In general, the export price, however, saw a perceptible downturn. The pace of growth was the most pronounced in 2013 an increase of 236%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Haiti ($X per unit), while the average price for exports to Panama totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+2.9%), while the prices for the other major destinations experienced a decline.

Boring Machinery Imports

Imports into the Dominican Republic

After two years of decline, overseas purchases of boring or sinking machinery increased by 533% to X units in 2022. Over the period under review, imports continue to indicate significant growth. Imports peaked at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, boring machinery imports soared to $X in 2022. Overall, imports recorded a strong expansion. The growth pace was the most rapid in 2019 with an increase of 253%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, the Netherlands (X units) constituted the largest boring machinery supplier to the Dominican Republic, accounting for a 63% share of total imports. Moreover, boring machinery imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Sweden (X units), twofold.

From 2012 to 2022, the average annual growth rate of volume from the Netherlands totaled +36.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (0.0% per year) and the United States (-12.8% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of boring or sinking machinery to the Dominican Republic, comprising 80% of total imports. The second position in the ranking was taken by Sweden ($X), with a 16% share of total imports. It was followed by the United States, with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Netherlands totaled +45.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+95.2% per year) and the United States (+20.8% per year).

Import Prices by Country

The average boring machinery import price stood at $X per unit in 2022, falling by -42.9% against the previous year. In general, the import price showed a deep reduction. The pace of growth was the most pronounced in 2020 when the average import price increased by 58%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a 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 China ($X per unit), while the price for Sweden ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :