Dominican Republic: Dairy Machinery Market 2024

Dairy Machinery Market Size in the Dominican Republic

The Dominican dairy machinery market fell slightly to $X in 2022, shrinking by -2.2% against the previous year. In general, the total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -13.7% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Dairy Machinery Production in the Dominican Republic

In value terms, dairy machinery production rose remarkably to $X in 2022 estimated in export price. Overall, the total production indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.9% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 54%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Dairy Machinery Exports

Exports from the Dominican Republic

In 2022, shipments abroad of dairy machinery decreased by 0% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2021 when exports increased by 50% against the previous year. Over the period under review, the exports reached the maximum at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, dairy machinery exports fell significantly to $X in 2022. Overall, exports showed a abrupt setback. The most prominent rate of growth was recorded in 2016 with an increase of 88% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X units), Ecuador (X units) and the UK (X units) were the main destinations of dairy machinery exports from the Dominican Republic.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ecuador (with a CAGR of 0.0%), while the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) remains the key foreign market for dairy machinery exports from the Dominican Republic, comprising 98% of total exports. The second position in the ranking was taken by Ecuador ($X), with a 1.4% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to -16.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-14.6% per year) and the UK (0.0% per year).

Export Prices by Country

In 2022, the average dairy machinery export price amounted to $X per unit, which is down by -21.4% against the previous year. In general, the export price saw a deep downturn. The most prominent rate of growth was recorded in 2016 when the average export price increased by 64%. As a result, the export price attained the peak level of $X per unit. From 2017 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to the UK ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-0.4%).

Dairy Machinery Imports

Imports into the Dominican Republic

In 2022, the amount of dairy machinery imported into the Dominican Republic dropped notably to X units, reducing by -65.2% compared with the year before. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 250% against the previous year. Over the period under review, imports hit record highs at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, dairy machinery imports dropped significantly to $X in 2022. Overall, imports, however, posted tangible growth. The growth pace was the most rapid in 2015 with an increase of 347%. Imports peaked at $X in 2021, and then declined notably in the following year.

Imports by Country

In 2022, the United States (X units) constituted the largest dairy machinery supplier to the Dominican Republic, with a 46% share of total imports. Moreover, dairy machinery imports from the United States exceeded the figures recorded by the second-largest supplier, Mexico (X units), threefold. The third position in this ranking was taken by the UK (X units), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled +28.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+17.5% per year) and the UK (+21.5% per year).

In value terms, the United States ($X) constituted the largest supplier of dairy machinery to the Dominican Republic, comprising 57% of total imports. The second position in the ranking was taken by Mexico ($X), with a 22% share of total imports. It was followed by the UK, with a 7.8% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled +30.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+21.2% per year) and the UK (+16.4% per year).

Import Prices by Country

In 2022, the average dairy machinery import price amounted to $X per unit, with an increase of 3.8% against the previous year. Over the period under review, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, dairy machinery import price increased by +85.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 79% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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 the United States ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :