Dominican Republic: Market for Gym and Fitness Equipment 2024

Market Size for Gym and Fitness Equipment in the Dominican Republic

The Dominican gym and fitness equipment market skyrocketed to $X in 2022, picking up by 23% 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). Overall, consumption posted a strong increase. Gym and fitness equipment consumption peaked in 2022 and is likely to continue growth in the near future.

Exports of Gym and Fitness Equipment

Exports from the Dominican Republic

Gym and fitness equipment exports from the Dominican Republic shrank notably to X tons in 2022, declining by -24.6% compared with the previous year. Overall, exports, however, posted significant growth. The pace of growth appeared the most rapid in 2018 when exports increased by 2,203% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, gym and fitness equipment exports declined rapidly to $X in 2022. Over the period under review, exports, however, showed significant growth. The pace of growth was the most pronounced in 2018 with an increase of 3,494% against the previous year. The exports peaked at $X in 2021, and then shrank notably in the following year.

Exports by Country

Haiti (X tons) was the main destination for gym and fitness equipment exports from the Dominican Republic, with a 77% share of total exports. Moreover, gym and fitness equipment exports to Haiti exceeded the volume sent to the second major destination, the United States (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Haiti totaled +38.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+18.8% per year) and Spain (+80.6% per year).

In value terms, the United States ($X) remains the key foreign market for gym and fitness equipment exports from the Dominican Republic, comprising 66% of total exports. The second position in the ranking was held by Haiti ($X), with a 29% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +32.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (+49.4% per year) and Spain (+92.9% per year).

Export Prices by Country

In 2022, the average gym and fitness equipment export price amounted to $X per ton, which is down by -70.4% against the previous year. Overall, the export price, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2013 when the average export price increased by 253%. The export price peaked at $X per ton in 2021, and then dropped remarkably in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Haiti ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+11.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gym and Fitness Equipment

Imports into the Dominican Republic

In 2022, gym and fitness equipment imports into the Dominican Republic soared to X tons, increasing by 36% against 2021. Overall, imports posted strong growth. The growth pace was the most rapid in 2019 when imports increased by 80%. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, gym and fitness equipment imports reached $X in 2022. Over the period under review, imports posted prominent growth. The most prominent rate of growth was recorded in 2015 when imports increased by 73% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

The United States (X tons), China (X tons) and Germany (X tons) were the main suppliers of gym and fitness equipment imports to the Dominican Republic, together comprising 94% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +76.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Germany ($X) were the largest gym and fitness equipment suppliers to the Dominican Republic, together accounting for 91% of total imports.

Germany, with a CAGR of +84.2%, 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

In 2022, the average gym and fitness equipment import price amounted to $X per ton, shrinking by -16% against the previous year. Over the period under review, the import price saw a pronounced reduction. The most prominent rate of growth was recorded in 2020 an increase of 39%. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

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 Germany ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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