Dominican Republic: Bumper Market 2024

Bumper Market Size in the Dominican Republic

In 2022, the Dominican bumper market increased by 80% to $X, rising for the second year in a row after two years of decline. Overall, consumption continues to indicate a remarkable increase. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Bumper Exports

Exports from the Dominican Republic

In 2022, shipments abroad of bumpers decreased by -36.3% to X tons, falling for the sixth consecutive year after two years of growth. Over the period under review, exports showed a abrupt setback. The growth pace was the most rapid in 2013 when exports increased by 310% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, bumper exports declined notably to $X in 2022. In general, exports showed a deep slump. The most prominent rate of growth was recorded in 2013 when exports increased by 268% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Cuba (X tons), Haiti (X tons) and the United States (X kg) were the main destinations of bumper exports from the Dominican Republic, together accounting for 76% of total exports. Turks and Caicos Islands, France, Venezuela and the Netherlands lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turks and Caicos Islands (with a CAGR of +57.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for bumper exported from the Dominican Republic were Haiti ($X), Cuba ($X) and the United States ($X), together accounting for 71% of total exports.

Haiti, with a CAGR of +40.3%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average bumper export price amounted to $X per ton, increasing by 13% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable decline. The most prominent rate of growth was recorded in 2014 when the average export price increased by 21% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Turks and Caicos Islands ($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 (+16.6%), while the prices for the other major destinations experienced more modest paces of growth.

Bumper Imports

Imports into the Dominican Republic

In 2022, the amount of bumpers imported into the Dominican Republic soared to X tons, picking up by 123% compared with 2021. Overall, imports recorded a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, bumper imports surged to $X in 2022. In general, imports continue to indicate a strong expansion. The growth pace was the most rapid in 2021 when imports increased by 50%. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of bumper to the Dominican Republic, accounting for a 46% share of total imports. Moreover, bumper imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Japan (X tons) ranked third in terms of total imports with a 17% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +38.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+20.5% per year) and Japan (+23.0% per year).

In value terms, China ($X) constituted the largest supplier of bumpers to the Dominican Republic, comprising 43% of total imports. The second position in the ranking was held by the United States ($X), with an 18% share of total imports. It was followed by Japan, with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +14.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+12.5% per year) and Japan (+2.7% per year).

Import Prices by Country

The average bumper import price stood at $X per ton in 2022, with a decrease of -35.7% against the previous year. Over the period under review, the import price saw a abrupt shrinkage. The growth pace was the most rapid in 2015 when the average import price increased by 10% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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