Dominican Republic: Pharmaceutical Rubber Articles Market 2024

Pharmaceutical Rubber Articles Market Size in the Dominican Republic

The Dominican pharmaceutical rubber articles market shrank to $X in 2021, waning by -5.8% against the previous year. Overall, consumption recorded a pronounced downturn. Pharmaceutical rubber articles consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Pharmaceutical Rubber Articles Production in the Dominican Republic

In value terms, pharmaceutical rubber articles production shrank to $X in 2021 estimated in export price. In general, production recorded a abrupt shrinkage. The growth pace was the most rapid in 2020 with an increase of 9.2%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Pharmaceutical Rubber Articles Exports

Exports from the Dominican Republic

For the ninth year in a row, the Dominican Republic recorded decline in shipments abroad of hygienic or pharmaceutical articles of rubber, which decreased by -41.4% to X units in 2021. Over the period under review, exports showed a dramatic descent. The smallest decline of -12.7% was in 2018. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, pharmaceutical rubber articles exports dropped sharply to $X in 2021. Overall, exports showed a sharp downturn. The smallest decline of -27.7% was in 2019. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Canada (X units) was the main destination for pharmaceutical rubber articles exports from the Dominican Republic, accounting for a 88% share of total exports. Moreover, pharmaceutical rubber articles exports to Canada exceeded the volume sent to the second major destination, Mexico (X units), more than tenfold. Japan (X units) ranked third in terms of total exports with a 2.9% share.

From 2012 to 2021, the average annual growth rate of volume to Canada amounted to -17.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-33.0% per year) and Japan (+0.8% per year).

In value terms, the largest markets for pharmaceutical rubber articles exported from the Dominican Republic were Canada ($X), Mexico ($X) and Japan ($X), with a combined 99% share of total exports.

In terms of the main countries of destination, Canada, with a CAGR of -27.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average pharmaceutical rubber articles export price stood at $X per unit in 2021, rising by 15% against the previous year. In general, the export price, however, recorded a deep downturn. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, 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 Mexico ($X per unit), while the average price for exports to the Czech Republic ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (-3.8%), while the prices for the other major destinations experienced a decline.

Pharmaceutical Rubber Articles Imports

Imports into the Dominican Republic

In 2021, the amount of hygienic or pharmaceutical articles of rubber imported into the Dominican Republic expanded slightly to X units, growing by 4.9% against the previous year's figure. The total import volume increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 when imports increased by 58% against the previous year. As a result, imports attained the peak of X units. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, pharmaceutical rubber articles imports soared to $X in 2021. Overall, total imports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of pharmaceutical rubber articles to the Dominican Republic, accounting for a 74% share of total imports. Moreover, pharmaceutical rubber articles imports from China exceeded the figures recorded by the second-largest supplier, the UK (X units), more than tenfold. Thailand (X units) ranked third in terms of total imports with a 3% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-11.6% per year) and Thailand (+26.2% per year).

In value terms, China ($X) constituted the largest supplier of hygienic or pharmaceutical articles of rubber to the Dominican Republic, comprising 53% of total imports. The second position in the ranking was held by the United States ($X), with a 7.1% share of total imports. It was followed by the UK, with a 6.6% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+4.0% per year) and the UK (-8.2% per year).

Import Prices by Country

The average pharmaceutical rubber articles import price stood at $X per unit in 2021, picking up by 35% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.2%. The import price peaked at $X per unit in 2015; however, from 2016 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 Colombia ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+20.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :