Dominican Republic: Pig Iron Articles Market 2025

Pig Iron Articles Market Size in the Dominican Republic

The Dominican pig iron articles market expanded to $X in 2021, picking up by 2.3% against the previous year. Overall, the total consumption indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -1.7% against 2019 indices. Pig iron articles consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Pig Iron Articles Production in the Dominican Republic

In value terms, pig iron articles production rose to $X in 2021 estimated in export price. Over the period under review, the total production indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.5% against 2019 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by 26%. Pig iron articles production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Pig Iron Articles Exports

Exports from the Dominican Republic

In 2021, the amount of granules and powders of pig iron exported from the Dominican Republic reduced sharply to X tons, with a decrease of -26.7% compared with 2020 figures. Overall, exports, however, showed significant growth. The growth pace was the most rapid in 2016 when exports increased by 1,307% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, pig iron articles exports fell to $X in 2021. In general, exports, however, saw strong growth. The most prominent rate of growth was recorded in 2014 when exports increased by 287% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Russia (X tons) was the main destination for pig iron articles exports from the Dominican Republic, with a 99% share of total exports. It was followed by China (X tons), with a 0.5% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Russia stood at +40.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+15.4% per year) and the United States (-18.1% per year).

In value terms, Russia ($X) remains the key foreign market for granules and powders of pig iron exports from the Dominican Republic, comprising 99% of total exports. The second position in the ranking was held by the United States ($X), with a 0.4% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Russia totaled +11.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-17.4% per year) and China (-21.4% per year).

Export Prices by Country

The average pig iron articles export price stood at $X per ton in 2021, jumping by 24% against the previous year. In general, the export price, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2014 an increase of 139% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to China ($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 the United States (+0.8%), while the prices for the other major destinations experienced a decline.

Pig Iron Articles Imports

Imports into the Dominican Republic

In 2021, after three years of decline, there was significant growth in purchases abroad of granules and powders of pig iron, when their volume increased by 32% to X tons. Over the period under review, imports posted a remarkable increase. The most prominent rate of growth was recorded in 2017 when imports increased by 305%. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, pig iron articles imports declined to $X in 2021. Overall, imports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 424%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of pig iron articles to the Dominican Republic, with a 65% share of total imports. Moreover, pig iron articles imports from the United States exceeded the figures recorded by the second-largest supplier, the UK (X tons), sixfold. The third position in this ranking was held by China (X tons), with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at +34.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+73.5% per year) and China (-4.8% per year).

In value terms, the United States ($X), the UK ($X) and Russia ($X) were the largest pig iron articles suppliers to the Dominican Republic, together comprising 96% of total imports. China, Brazil and India lagged somewhat behind, together accounting for a further 1.9%.

Among the main suppliers, India, with a CAGR of +103.4%, saw the highest rates of growth with regard to 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 pig iron articles import price stood at $X per ton in 2021, reducing by -31.3% against the previous year. Over the period under review, the import price, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2016 when the average import price increased by 106%. Over the period under review, average import prices attained the maximum at $X per ton in 2020, and then contracted significantly in the following year.

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 the UK ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+23.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform