Dominican Republic: Fishing Rod Market 2024

Fishing Rod Market Size in the Dominican Republic

After two years of decline, the Dominican fishing rod market increased by 22% to $X in 2021. Over the period under review, consumption, however, recorded a pronounced decrease. Fishing rod consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Fishing Rod Production in the Dominican Republic

In value terms, fishing rod production reached $X in 2021 estimated in export price. In general, production, however, recorded a pronounced contraction. The most prominent rate of growth was recorded in 2015 when the production volume increased by 35% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Fishing Rod Exports

Exports from the Dominican Republic

In 2021, shipments abroad of fishing rods and other line fishing tackle increased by 17% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, exports saw a strong increase. The pace of growth appeared the most rapid in 2016 with an increase of 76%. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, fishing rod exports skyrocketed to $X in 2021. In general, exports showed prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of 54%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for fishing rod exports from the Dominican Republic, accounting for a 66% share of total exports. Moreover, fishing rod exports to the United States exceeded the volume sent to the second major destination, Canada (X tons), twofold. The third position in this ranking was held by Haiti (X tons), with a 2.1% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+51.5% per year) and Haiti (+0.3% per year).

In value terms, Canada ($X) remains the key foreign market for fishing rods and other line fishing tackle exports from the Dominican Republic, comprising 71% of total exports. The second position in the ranking was taken by the United States ($X), with an 18% share of total exports. It was followed by Haiti, with a 2.8% share.

From 2012 to 2021, the average annual growth rate of value to Canada totaled +47.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-9.5% per year) and Haiti (+9.1% per year).

Export Prices by Country

In 2021, the average fishing rod export price amounted to $X per ton, picking up by 6.4% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 8.2% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Canada ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Haiti (+8.8%), while the prices for the other major destinations experienced a decline.

Fishing Rod Imports

Imports into the Dominican Republic

In 2021, approx. X tons of fishing rods and other line fishing tackle were imported into the Dominican Republic; rising by 28% against 2020. In general, imports recorded a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of 91% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in the immediate term.

In value terms, fishing rod imports surged to $X in 2021. The total import value increased at an average annual rate of +5.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of 42% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

China (X tons), the United States (X tons) and Haiti (X tons) were the main suppliers of fishing rod imports to the Dominican Republic, together accounting for 94% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Haiti (with a CAGR of +34.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of fishing rods and other line fishing tackle to the Dominican Republic, comprising 64% of total imports. The second position in the ranking was taken by the United States ($X), with a 22% share of total imports. It was followed by Norway, with a 5.2% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +18.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-2.3% per year) and Norway (-3.1% per year).

Import Prices by Country

The average fishing rod import price stood at $X per ton in 2021, picking up by 5.3% against the previous year. Over the period under review, the import price, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2017 an increase of 7.2%. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was South Korea ($X per ton), while the price for Haiti ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+14.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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