Dominican Republic: Electronic Chip Market 2024

Electronic Chip Market Size in the Dominican Republic

The Dominican electronic chip market surged to $X in 2021, increasing by 18% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a relatively flat trend pattern. Electronic chip consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Electronic Chip Exports

Exports from the Dominican Republic

In 2021, overseas shipments of electronic chips decreased by -8.7% to X units, falling for the second year in a row after four years of growth. Over the period under review, exports, however, enjoyed prominent growth. The pace of growth was the most pronounced in 2013 with an increase of 114% against the previous year. Over the period under review, the exports reached the maximum at X units in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, electronic chip exports contracted to $X in 2021. Overall, exports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2019 with an increase of 300%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for electronic chip exports from the Dominican Republic, accounting for a 53% share of total exports. Moreover, electronic chip exports to the United States exceeded the volume sent to the second major destination, Italy (X units), fourfold. Colombia (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +10.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+82.1% per year) and Colombia (+45.9% per year).

In value terms, the United States ($X) emerged as the key foreign market for electronic chips exports from the Dominican Republic, comprising 38% of total exports. The second position in the ranking was taken by Italy ($X), with a 9.9% share of total exports. It was followed by Canada, with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +20.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+49.1% per year) and Canada (+106.5% per year).

Export Prices by Country

In 2021, the average electronic chip export price amounted to $X per unit, almost unchanged from the previous year. Overall, the export price continues to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2018 when the average export price increased by 175%. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to Saudi Arabia (less than $X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+37.7%), while the prices for the other major destinations experienced mixed trend patterns.

Electronic Chip Imports

Imports into the Dominican Republic

Electronic chip imports into the Dominican Republic expanded markedly to X units in 2021, growing by 13% against 2020 figures. In general, imports, however, continue to indicate a slight decline. The most prominent rate of growth was recorded in 2019 when imports increased by 77%. Imports peaked at X units in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, electronic chip imports skyrocketed to $X in 2021. Over the period under review, imports recorded strong growth. The most prominent rate of growth was recorded in 2019 with an increase of 90%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of electronic chip to the Dominican Republic, accounting for a 59% share of total imports. Moreover, electronic chip imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. The third position in this ranking was taken by Bosnia and Herzegovina (X units), with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +19.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-13.4% per year) and Bosnia and Herzegovina (+509.1% per year).

In value terms, China ($X), the United States ($X) and Germany ($X) were the largest electronic chip suppliers to the Dominican Republic, with a combined 63% share of total imports. These countries were followed by Singapore, Panama, Bosnia and Herzegovina and Italy, which together accounted for a further 10%.

Among the main suppliers, Bosnia and Herzegovina, with a CAGR of +328.6%, 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

In 2021, the average electronic chip import price amounted to $X per unit, surging by 9.5% against the previous year. Over the period under review, the import price posted strong growth. The growth pace was the most rapid in 2015 an increase of 52%. The import price peaked at $X per unit in 2019; afterwards, it flattened through to 2021.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+23.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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