Dominican Republic: Stone Polishing Machine Market 2024

Stone Polishing Machine Market Size in the Dominican Republic

The Dominican stone polishing machine market dropped to $X in 2022, which is down by -11.7% against the previous year. Overall, consumption, however, saw resilient growth. As a result, consumption attained the peak level of $X, and then shrank in the following year.

Stone Polishing Machine Production in the Dominican Republic

In value terms, stone polishing machine production amounted to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the production volume increased by 15% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Stone Polishing Machine Exports

Exports from the Dominican Republic

In 2022, the amount of grinding or polishing machines for working stone, ceramics and concrete exported from the Dominican Republic totaled X units, leveling off at the previous year. Overall, exports continue to indicate a modest expansion. The pace of growth was the most pronounced in 2014 with an increase of 522%. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, stone polishing machine exports fell sharply to $X in 2022. In general, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2019 with an increase of 695% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for stone polishing machine exports from the Dominican Republic, accounting for a 79% share of total exports. Moreover, stone polishing machine exports to the United States exceeded the volume sent to the second major destination, Spain (X units), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +13.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-12.9% per year) and Haiti (0.0% per year).

In value terms, the United States ($X) remains the key foreign market for grinding or polishing machines for working stone, ceramics and concrete exports from the Dominican Republic, comprising 88% of total exports. The second position in the ranking was taken by Spain ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to -2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-19.3% per year) and Haiti (-26.4% per year).

Export Prices by Country

In 2022, the average stone polishing machine export price amounted to $X per unit, dropping by -15.1% against the previous year. Overall, the export price saw a abrupt descent. The pace of growth appeared the most rapid in 2019 an increase of 397%. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the 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 ($X per unit), while the average price for exports to Haiti ($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 (-7.3%), while the prices for the other major destinations experienced a decline.

Stone Polishing Machine Imports

Imports into the Dominican Republic

In 2022, approx. X units of grinding or polishing machines for working stone, ceramics and concrete were imported into the Dominican Republic; which is down by -17.5% on the previous year. Over the period under review, imports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2021 when imports increased by 1,966% against the previous year. As a result, imports reached the peak of X units, and then contracted sharply in the following year.

In value terms, stone polishing machine imports skyrocketed to $X in 2022. Overall, imports, however, posted prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico (X units), Italy (X units) and Spain (X units) were the main suppliers of stone polishing machine imports to the Dominican Republic, together accounting for 96% of total imports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +95.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest stone polishing machine suppliers to the Dominican Republic were China ($X), Italy ($X) and Spain ($X), together accounting for 87% of total imports.

In terms of the main suppliers, Italy, with a CAGR of +68.5%, recorded 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

In 2022, the average stone polishing machine import price amounted to $X per unit, jumping by 279% against the previous year. Over the period under review, the import price, however, recorded a precipitous setback. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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