Dominican Republic: Flywheels And Pulleys Market 2024

Flywheels And Pulleys Market Size in the Dominican Republic

The Dominican flywheels and pulleys market skyrocketed to $X in 2021, with an increase of 70% 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). Over the period under review, consumption recorded a buoyant expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Flywheels And Pulleys Exports

Exports from the Dominican Republic

In 2021, shipments abroad of flywheels and pulleys increased by 49% to X tons, rising for the fourth year in a row after three years of decline. Over the period under review, exports saw a significant increase. The pace of growth appeared the most rapid in 2018 when exports increased by 823% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in the immediate term.

In value terms, flywheels and pulleys exports skyrocketed to $X in 2021. Overall, exports posted a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 341%. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for flywheels and pulleys exports from the Dominican Republic, with a 99% share of total exports. It was followed by Haiti (X kg), with a 0.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +68.9%.

In value terms, the United States ($X) remains the key foreign market for flywheels and pulleys exports from the Dominican Republic, comprising 99% of total exports. The second position in the ranking was held by Haiti ($X), with a 0.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +83.8%.

Export Prices by Country

In 2021, the average flywheels and pulleys export price amounted to $X per ton, increasing by 30% against the previous year. In general, the export price posted a buoyant increase. The pace of growth was the most pronounced in 2015 an increase of 965%. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Haiti totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Haiti (+11.4%).

Flywheels And Pulleys Imports

Imports into the Dominican Republic

In 2021, flywheels and pulleys imports into the Dominican Republic soared to X tons, jumping by 78% compared with 2020 figures. In general, imports showed a buoyant increase. The pace of growth appeared the most rapid in 2018 with an increase of 80% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see steady growth in years to come.

In value terms, flywheels and pulleys imports surged to $X in 2021. Overall, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), the United States (X tons) and Japan (X tons) were the main suppliers of flywheels and pulleys imports to the Dominican Republic, together comprising 82% of total imports. These countries were followed by South Korea, Italy, Canada, Kuwait and Germany, which together accounted for a further 13%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Kuwait (with a CAGR of +114.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Germany ($X) appeared to be the largest flywheels and pulleys suppliers to the Dominican Republic, together accounting for 72% of total imports. Italy, Japan, South Korea, Canada and Kuwait lagged somewhat behind, together comprising a further 13%.

Kuwait, with a CAGR of +52.7%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average flywheels and pulleys import price stood at $X per ton in 2021, which is down by -7.2% against the previous year. Overall, the import price continues to indicate a noticeable decline. The pace of growth appeared the most rapid in 2017 an increase of 18%. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+12.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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