Dominican Republic: Flexographic Printing Machinery Market 2024

Flexographic Printing Machinery Market Size in the Dominican Republic

The Dominican flexographic printing machinery market surged to $X in 2022, with an increase of 71% against the previous year. Overall, consumption enjoyed prominent growth. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Flexographic Printing Machinery Production in the Dominican Republic

In value terms, flexographic printing machinery production totaled $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 387,585,300%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Flexographic Printing Machinery Exports

Exports from the Dominican Republic

In 2022, the amount of flexographic printing machinery exported from the Dominican Republic surged to X units, picking up by 60% compared with 2021 figures. Over the period under review, exports enjoyed a strong increase. The pace of growth was the most pronounced in 2019 with an increase of 133%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, flexographic printing machinery exports surged to $X in 2022. In general, exports showed a significant increase. The growth pace was the most rapid in 2013 with an increase of 852,533%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

France (X units), Vietnam (X units) and India (X units) were the main destinations of flexographic printing machinery exports from the Dominican Republic, together accounting for 75% 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 Vietnam (with a CAGR of 0.0%), while the other leaders experienced more modest paces of growth.

In value terms, India ($X) emerged as the key foreign market for flexographic printing machinery exports from the Dominican Republic, comprising 94% of total exports. The second position in the ranking was taken by Venezuela ($X), with a 3.6% share of total exports. It was followed by Vietnam, with a 1.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to India was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (0.0% per year) and Vietnam (0.0% per year).

Export Prices by Country

In 2022, the average flexographic printing machinery export price amounted to $X per unit, rising by 6,261% against the previous year. Over the period under review, the export price posted significant growth. The most prominent rate of growth was recorded in 2013 an increase of 639,375%. Over the period under review, the average export prices attained the maximum at $X per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to France ($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 (+104.0%), while the prices for the other major destinations experienced more modest paces of growth.

Flexographic Printing Machinery Imports

Imports into the Dominican Republic

For the third consecutive year, the Dominican Republic recorded growth in overseas purchases of flexographic printing machinery, which increased by 99% to X units in 2022. Over the period under review, imports posted a buoyant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 187% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, flexographic printing machinery imports surged to $X in 2022. In general, imports showed a remarkable increase. The pace of growth appeared the most rapid in 2020 when imports increased by 692% against the previous year. Over the period under review, imports attained the peak figure at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

The United States (X units), China (X units) and Germany (X units) were the main suppliers of flexographic printing machinery imports to the Dominican Republic, with a combined 94% share of total imports. Turkey and the UK lagged somewhat behind, together comprising a further 4.5%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +300.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and China ($X) appeared to be the largest flexographic printing machinery suppliers to the Dominican Republic, with a combined 95% share of total imports. The UK and Turkey lagged somewhat behind, together comprising a further 4.4%.

Among the main suppliers, Turkey, with a CAGR of +8,313.7%, recorded 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 flexographic printing machinery import price stood at $X per unit in 2022, shrinking by -33.9% against the previous year. In general, the import price recorded a perceptible curtailment. The growth pace was the most rapid in 2020 when the average import price increased by 176% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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 ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+2,003.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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