Dominican Republic: Market for Coconut, Abaca, Ramie and other Vegetable Textile Fibres 2024

Market Size for Coconut, Abaca, Ramie and other Vegetable Textile Fibres in the Dominican Republic

In 2022, the Dominican market for coconut, abaca, ramie and other vegetable textile fibres increased by 198% to $X, rising for the third year in a row after three years of decline. In general, consumption enjoyed a buoyant increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Coconut, Abaca, Ramie and other Vegetable Textile Fibres in the Dominican Republic

In value terms, production of coconut, abaca, ramie and other vegetable textile fibres expanded to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2015 when the production volume increased by 38%. As a result, production attained the peak level of $X. From 2016 to 2022, production of growth remained at a lower figure.

In 2022, the average yield of coconut, abaca, ramie and other vegetable textile fibres in the Dominican Republic soared to X tons per ha, growing by 66% on 2021 figures. The yield figure increased at an average annual rate of +4.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the yield reached the peak level and is likely to continue growth in the immediate term. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The harvested area of coconut, abaca, ramie and other vegetable textile fibres in the Dominican Republic amounted to X ha in 2022, approximately mirroring 2021. Overall, the harvested area recorded a slight descent. The pace of growth was the most pronounced in 2015 with an increase of 24% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2016 to 2022, the growth of the harvested area of coconut, abaca, ramie and other vegetable textile fibres remained at a somewhat lower figure.

Exports of Coconut, Abaca, Ramie and other Vegetable Textile Fibres

Exports from the Dominican Republic

Exports of coconut, abaca, ramie and other vegetable textile fibres from the Dominican Republic fell rapidly to X tons in 2022, with a decrease of -99.8% against the previous year's figure. Over the period under review, exports showed a precipitous contraction. The most prominent rate of growth was recorded in 2019 with an increase of 265%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of coconut, abaca, ramie and other vegetable textile fibres contracted rapidly to $X in 2022. Overall, exports recorded a precipitous curtailment. The growth pace was the most rapid in 2019 with an increase of 200%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Canada (X tons) was the main destination for exports of coconut, abaca, ramie and other vegetable textile fibres from the Dominican Republic, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Canada was relatively modest.

In value terms, Canada ($X) emerged as the key foreign market for coconut, abaca, ramie and other vegetable textile fibres exports from the Dominican Republic.

From 2012 to 2022, the average annual rate of growth in terms of value to Canada amounted to +11.3%.

Export Prices by Country

The average export price for coconut, abaca, ramie and other vegetable textile fibres stood at $X per ton in 2022, jumping by 422% against the previous year. In general, the export price enjoyed strong growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the rate of growth in terms of prices for Canada amounted to +11.5% per year.

Imports of Coconut, Abaca, Ramie and other Vegetable Textile Fibres

Imports into the Dominican Republic

In 2022, imports of coconut, abaca, ramie and other vegetable textile fibres into the Dominican Republic dropped to X tons, shrinking by -11.6% against 2021 figures. Over the period under review, imports, however, saw a buoyant increase. The pace of growth was the most pronounced in 2015 with an increase of 727% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, imports of coconut, abaca, ramie and other vegetable textile fibres reached $X in 2022. In general, imports, however, continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2015 when imports increased by 357%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of coconut, abaca, ramie and other vegetable textile fibre to the Dominican Republic, with a 85% share of total imports. Moreover, imports of coconut, abaca, ramie and other vegetable textile fibres from India exceeded the figures recorded by the second-largest supplier, Sri Lanka (X tons), more than tenfold. The third position in this ranking was held by Brazil (X tons), with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from India stood at +34.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (+1.8% per year) and Brazil (-19.9% per year).

In value terms, India ($X) constituted the largest supplier of coconut, abaca, ramie and other vegetable textile fibres to the Dominican Republic, comprising 67% of total imports. The second position in the ranking was taken by the United States ($X), with a 14% share of total imports. It was followed by Sri Lanka, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India totaled +32.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+43.5% per year) and Sri Lanka (+7.3% per year).

Import Prices by Country

The average import price for coconut, abaca, ramie and other vegetable textile fibres stood at $X per ton in 2022, rising by 13% against the previous year. In general, the import price saw a slight expansion. The most prominent rate of growth was recorded in 2020 an increase of 57% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for India ($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 (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform