Dominican Republic: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in the Dominican Republic

In 2022, the Dominican cranks and crankshafts market increased by 2.7% to $X, rising for the second consecutive year after three years of decline. Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.8% 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 +15.4% against 2020 indices. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the immediate term.

Cranks And Crankshafts Exports

Exports from the Dominican Republic

In 2022, after three years of decline, there was significant growth in shipments abroad of cranks and crankshafts, when their volume increased by 29% to X kg. In general, exports, however, continue to indicate a abrupt decline. The growth pace was the most rapid in 2018 with an increase of 2,582% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, cranks and crankshafts exports rose rapidly to $X in 2022. Overall, exports, however, continue to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2018 with an increase of 1,078% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Haiti (X kg), Panama (X kg) and Germany (X kg) were the main destinations of cranks and crankshafts exports from the Dominican Republic, with a combined 90% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Panama (with a CAGR of +133.9%), while the other leaders experienced mixed trend patterns.

In value terms, Panama ($X), Haiti ($X) and Germany ($X) were the largest markets for cranks and crankshafts exported from the Dominican Republic worldwide, together accounting for 99% of total exports.

In terms of the main countries of destination, Haiti, with a CAGR of +32.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average cranks and crankshafts export price stood at $X per ton in 2022, falling by -14.5% against the previous year. Over the period under review, the export price, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2019 when the average export price increased by 268% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2020; however, from 2021 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 Panama ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (+63.1%), while the prices for the other major destinations experienced mixed trend patterns.

Cranks And Crankshafts Imports

Imports into the Dominican Republic

In 2022, purchases abroad of cranks and crankshafts increased by 25% to X tons, rising for the second year in a row after two years of decline. In general, total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +54.2% against 2020 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 50%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, cranks and crankshafts imports fell slightly to $X in 2022. Over the period under review, total imports indicated a strong expansion 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, imports increased by +8.4% against 2020 indices. The pace of growth appeared the most rapid in 2016 with an increase of 45%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Colombia (X tons) and the United States (X tons) were the main suppliers of cranks and crankshafts imports to the Dominican Republic, with a combined 93% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Colombia (with a CAGR of +58.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cranks and crankshafts suppliers to the Dominican Republic were China ($X), the United States ($X) and Colombia ($X), together comprising 80% of total imports.

Among the main suppliers, Colombia, with a CAGR of +40.6%, saw 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 cranks and crankshafts import price stood at $X per ton in 2022, falling by -21.2% against the previous year. In general, the import price saw a slight decline. The pace of growth was the most pronounced in 2017 when the average import price increased by 26% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2020; however, from 2021 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 Finland ($X per ton), while the price for Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+13.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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