Dominican Republic: Non-Self-Propelled Fork-Lift Truck Market 2024

Non-Self-Propelled Fork-Lift Truck Market Size in the Dominican Republic

The Dominican non-self-propelled fork-lift truck market skyrocketed to $X in 2022, increasing by 204% 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 posted strong growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Non-Self-Propelled Fork-Lift Truck Exports

Exports from the Dominican Republic

In 2022, shipments abroad of non-self-propelled fork-lift trucks was finally on the rise to reach X units after two years of decline. In general, exports posted temperate growth. The pace of growth was the most pronounced in 2019 with an increase of 1,036% against the previous year. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, non-self-propelled fork-lift truck exports surged to $X in 2022. Over the period under review, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2019 when exports increased by 929%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Haiti (X units) was the main destination for non-self-propelled fork-lift truck exports from the Dominican Republic, accounting for a 30% share of total exports. Moreover, non-self-propelled fork-lift truck exports to Haiti exceeded the volume sent to the second major destination, Cuba (X units), threefold. Guatemala (X units) ranked third in terms of total exports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to Haiti amounted to +11.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (0.0% per year) and Guatemala (0.0% per year).

In value terms, Haiti ($X) emerged as the key foreign market for non-self-propelled fork-lift trucks exports from the Dominican Republic, comprising 62% of total exports. The second position in the ranking was held by Spain ($X), with a 20% share of total exports. It was followed by Cuba, with a 17% share.

From 2012 to 2022, the average annual growth rate of value to Haiti amounted to +40.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+32.7% per year) and Cuba (+31.7% per year).

Export Prices by Country

The average non-self-propelled fork-lift truck export price stood at $X per unit in 2022, rising by 13% against the previous year. Overall, the export price continues to indicate a resilient expansion. The pace of growth was the most pronounced in 2017 an increase of 138% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Haiti ($X per unit), while the average price for exports to Guatemala ($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 Spain (+32.7%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Self-Propelled Fork-Lift Truck Imports

Imports into the Dominican Republic

In 2022, overseas purchases of non-self-propelled fork-lift trucks were finally on the rise to reach X units after two years of decline. Overall, imports recorded significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, non-self-propelled fork-lift truck imports surged to $X in 2022. Over the period under review, imports posted a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), the United States (X units) and Italy (X units) were the main suppliers of non-self-propelled fork-lift truck imports to the Dominican Republic, with a combined 88% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +99.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of non-self-propelled fork-lift trucks to the Dominican Republic, comprising 66% of total imports. The second position in the ranking was taken by China ($X), with a 26% share of total imports. It was followed by Italy, with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +22.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+11.8% per year) and Italy (+131.8% per year).

Import Prices by Country

The average non-self-propelled fork-lift truck import price stood at $X per unit in 2022, dropping by -2.5% against the previous year. Overall, the import price saw a drastic downturn. The pace of growth was the most pronounced in 2014 when the average import price increased by 19%. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+16.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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