Dominican Republic: Aromatic Hydrocarbons Derivatives Market 2024

Aromatic Hydrocarbons Derivatives Market Size in the Dominican Republic

The Dominican aromatic hydrocarbons derivatives market fell to $X in 2021, dropping by -9.6% 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, however, saw a buoyant expansion. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Aromatic Hydrocarbons Derivatives Exports

Exports from the Dominican Republic

In 2021, the amount of halogenated derivatives of aromatic hydrocarbons exported from the Dominican Republic reduced sharply to X kg, falling by -96.6% on the previous year's figure. Overall, exports continue to indicate a significant decline. The pace of growth was the most pronounced in 2020 when exports increased by 415%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, aromatic hydrocarbons derivatives exports contracted dramatically to $X in 2021. In general, exports saw a significant decrease. The most prominent rate of growth was recorded in 2016 with an increase of 662% against the previous year. Over the period under review, the exports hit record highs at $X in 2020, and then declined rapidly in the following year.

Exports by Country

Haiti (X kg) was the main destination for aromatic hydrocarbons derivatives exports from the Dominican Republic, with a 90% share of total exports. Moreover, aromatic hydrocarbons derivatives exports to Haiti exceeded the volume sent to the second major destination, China (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Haiti totaled -27.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (0.0% per year) and Switzerland (0.0% per year).

In value terms, Haiti ($X) remains the key foreign market for halogenated derivatives of aromatic hydrocarbons exports from the Dominican Republic, comprising 99% of total exports. The second position in the ranking was taken by Switzerland ($X), with a 0.3% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Haiti amounted to -30.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (0.0% per year) and China (0.0% per year).

Export Prices by Country

The average aromatic hydrocarbons derivatives export price stood at $X per ton in 2021, falling by -80.8% against the previous year. Overall, the export price recorded a deep reduction. The most prominent rate of growth was recorded in 2017 an increase of 165%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Haiti ($X per ton), while the average price for exports to China ($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 Haiti (-4.5%).

Aromatic Hydrocarbons Derivatives Imports

Imports into the Dominican Republic

In 2021, the amount of halogenated derivatives of aromatic hydrocarbons imported into the Dominican Republic contracted to X tons, reducing by -1.8% on 2020 figures. In general, imports, however, posted a measured expansion. The pace of growth appeared the most rapid in 2020 with an increase of 119%. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, aromatic hydrocarbons derivatives imports shrank to $X in 2021. Over the period under review, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +66.0% against 2017 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 83%. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest aromatic hydrocarbons derivatives supplier to the Dominican Republic, accounting for a 87% share of total imports. Moreover, aromatic hydrocarbons derivatives imports from China exceeded the figures recorded by the second-largest supplier, the UK (X tons), eightfold.

From 2012 to 2021, the average annual growth rate of volume from China totaled +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+16.6% per year) and the United States (+6.0% per year).

In value terms, China ($X) constituted the largest supplier of halogenated derivatives of aromatic hydrocarbons to the Dominican Republic, comprising 96% of total imports. The second position in the ranking was taken by the United States ($X), with a 2.5% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China stood at +11.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+10.1% per year) and the UK (+5.1% per year).

Import Prices by Country

The average aromatic hydrocarbons derivatives import price stood at $X per ton in 2021, which is down by -12.5% against the previous year. Overall, the import price, however, saw notable growth. The most prominent rate of growth was recorded in 2018 an increase of 73% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

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 United States ($X per ton), while the price for the UK ($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 (+9.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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