Dominican Republic: Metal Hammer Market 2024

Metal Hammer Market Size in the Dominican Republic

The Dominican metal hammer market reached $X in 2022, remaining stable 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). In general, consumption recorded prominent growth. Metal hammer consumption peaked in 2022 and is likely to see gradual growth in years to come.

Metal Hammer Exports

Exports from the Dominican Republic

In 2022, approx. X kg of hammers and sledge hammers with working part of metal were exported from the Dominican Republic; waning by -54.1% on 2021 figures. Over the period under review, exports recorded a significant decline. The most prominent rate of growth was recorded in 2016 when exports increased by 710%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, metal hammer exports dropped significantly to $X in 2022. In general, exports faced a abrupt contraction. The pace of growth was the most pronounced in 2017 when exports increased by 257% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Haiti (X kg) was the main destination for metal hammer exports from the Dominican Republic, accounting for a 76% share of total exports. Moreover, metal hammer exports to Haiti exceeded the volume sent to the second major destination, Saint Vincent and the Grenadines (X kg), eightfold. The third position in this ranking was held by Turks and Caicos Islands (X kg), with a 6.7% share.

From 2012 to 2022, the average annual growth rate of volume to Haiti stood at -24.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saint Vincent and the Grenadines (0.0% per year) and Turks and Caicos Islands (+59.3% per year).

In value terms, Haiti ($X) remains the key foreign market for hammers and sledge hammers with working part of metal exports from the Dominican Republic, comprising 56% of total exports. The second position in the ranking was held by the United States ($X), with a 25% share of total exports. It was followed by Saint Vincent and the Grenadines, with a 9% share.

From 2012 to 2022, the average annual growth rate of value to Haiti amounted to -17.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+13.4% per year) and Saint Vincent and the Grenadines (0.0% per year).

Export Prices by Country

The average metal hammer export price stood at $X per ton in 2022, with a decrease of -36.5% against the previous year. In general, the export price, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2015 an increase of 944%. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Turks and Caicos Islands ($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 Haiti (+9.0%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Hammer Imports

Imports into the Dominican Republic

Metal hammer imports into the Dominican Republic rose sharply to X tons in 2022, surging by 6.6% against the previous year. Overall, imports saw a buoyant expansion. The pace of growth was the most pronounced in 2021 when imports increased by 18%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, metal hammer imports contracted modestly to $X in 2022. Over the period under review, imports showed buoyant growth. The growth pace was the most rapid in 2021 when imports increased by 45%. As a result, imports attained the peak of $X, and then declined modestly in the following year.

Imports by Country

China (X tons), Mexico (X tons) and the United States (X tons) were the main suppliers of metal hammer imports to the Dominican Republic, together comprising 86% of total imports. Brazil, Italy and Colombia lagged somewhat behind, together accounting for a further 12%.

From 2012 to 2022, the biggest increases were recorded for Colombia (with a CAGR of +63.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest metal hammer suppliers to the Dominican Republic were China ($X), Mexico ($X) and the United States ($X), with a combined 84% share of total imports. Brazil, Italy and Colombia lagged somewhat behind, together accounting for a further 14%.

Among the main suppliers, Colombia, with a CAGR of +60.2%, recorded the highest growth rate of 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 metal hammer import price amounted to $X per ton, shrinking by -7.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The growth pace was the most rapid in 2021 an increase of 23%. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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 Brazil ($X per ton), while the price for Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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