Dominican Republic: Golf Equipment Market 2024

Golf Equipment Market Size in the Dominican Republic

The Dominican golf equipment market expanded markedly to $X in 2022, growing by 7.8% against the previous year. The market value increased at an average annual rate of +3.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Golf Equipment Production in the Dominican Republic

In value terms, golf equipment production shrank to $X in 2022 estimated in export price. Over the period under review, the total production indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +6.4% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 24% against the previous year. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Golf Equipment Exports

Exports from the Dominican Republic

After four years of decline, overseas shipments of golf clubs and other golf equipment increased by 237% to X units in 2022. Over the period under review, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2014 when exports increased by 1,713% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, golf equipment exports surged to $X in 2022. Overall, exports posted significant growth. The growth pace was the most rapid in 2014 with an increase of 3,124%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for golf equipment exports from the Dominican Republic, with a 91% share of total exports. It was followed by Barbados (X units), with less than 0.1% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +117.9%.

In value terms, the United States ($X) remains the key foreign market for golf clubs and other golf equipment exports from the Dominican Republic, comprising 94% of total exports. The second position in the ranking was held by Barbados ($X), with a 0.1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +115.7%.

Export Prices by Country

The average golf equipment export price stood at $X per unit in 2022, growing by 97% against the previous year. Over the period under review, the export price enjoyed a strong expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Barbados ($X per unit), while the average price for exports to the United States stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Barbados (+724.6%).

Golf Equipment Imports

Imports into the Dominican Republic

After three years of decline, purchases abroad of golf clubs and other golf equipment increased by 84% to X units in 2022. Overall, imports enjoyed a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, golf equipment imports soared to $X in 2022. Over the period under review, imports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2021 when imports increased by 118%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

China (X units) and the United States (X units) were the main suppliers of golf equipment imports to the Dominican Republic.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +11.1%).

In value terms, the United States ($X) constituted the largest supplier of golf clubs and other golf equipment to the Dominican Republic, comprising 72% of total imports. The second position in the ranking was taken by China ($X), with a 25% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled +17.5%.

Import Prices by Country

The average golf equipment import price stood at $X per unit in 2022, shrinking by -6.8% against the previous year. Over the period under review, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, golf equipment import price increased by +108.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 124%. As a result, import price attained the peak level of $X per unit, and then dropped in the following year.

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 China totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+12.3%).

Source: IndexBox Platform

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