Dominican Republic: Market for Industrial Automatic Sewing Machines 2024

Market Size for Industrial Automatic Sewing Machines in the Dominican Republic

The Dominican industrial automatic sewing machine market surged to $X in 2022, jumping by 194% against the previous year. Over the period under review, consumption continues to indicate a resilient expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Industrial Automatic Sewing Machines in the Dominican Republic

In value terms, industrial automatic sewing machine production declined significantly to $X in 2022 estimated in export price. Overall, production, however, saw a significant expansion. The growth pace was the most rapid in 2021 with an increase of 178,336,200% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Industrial Automatic Sewing Machines

Exports from the Dominican Republic

In 2022, approx. X units of industrial automatic sewing machines were exported from the Dominican Republic; with an increase of 13% on the year before. Overall, exports, however, faced a deep contraction. The most prominent rate of growth was recorded in 2019 with an increase of 4,017%. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, industrial automatic sewing machine exports skyrocketed to $X in 2022. In general, exports, however, continue to indicate a significant contraction. The most prominent rate of growth was recorded in 2019 with an increase of 1,354%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

El Salvador (X units) was the main destination for industrial automatic sewing machine exports from the Dominican Republic, accounting for a 67% share of total exports. Moreover, industrial automatic sewing machine exports to El Salvador exceeded the volume sent to the second major destination, the United States (X units), threefold.

From 2012 to 2022, the average annual growth rate of volume to El Salvador totaled -12.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (0.0% per year) and Haiti (-6.7% per year).

In value terms, El Salvador ($X) emerged as the key foreign market for industrial automatic sewing machines exports from the Dominican Republic, comprising 78% of total exports. The second position in the ranking was held by the United States ($X), with a 20% share of total exports.

From 2012 to 2022, the average annual growth rate of value to El Salvador totaled -22.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-18.7% per year) and Haiti (-32.9% per year).

Export Prices by Country

In 2022, the average industrial automatic sewing machine export price amounted to $X per unit, picking up by 45% against the previous year. Over the period under review, the export price, however, saw a abrupt decrease. The pace of growth appeared the most rapid in 2021 when the average export price increased by 169%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

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 El Salvador ($X per unit), while the average price for exports to Haiti ($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 Honduras (+51.2%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Industrial Automatic Sewing Machines

Imports into the Dominican Republic

In 2022, the amount of industrial automatic sewing machines imported into the Dominican Republic surged to X units, growing by 648% on the previous year's figure. Overall, imports showed a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, industrial automatic sewing machine imports skyrocketed to $X in 2022. Over the period under review, imports posted strong growth. The pace of growth appeared the most rapid in 2020 when imports increased by 357%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

Imports by Country

The United States (X units) and China (X units) were the main suppliers of industrial automatic sewing machine imports to the Dominican Republic.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +21.9%).

In value terms, the largest industrial automatic sewing machine suppliers to the Dominican Republic were China ($X) and the United States ($X).

China, with a CAGR of +29.7%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review.

Import Prices by Country

In 2022, the average industrial automatic sewing machine import price amounted to $X per unit, with a decrease of -70.4% against the previous year. Over the period under review, the import price recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2021 an increase of 52%. As a result, import price attained the peak level of $X per unit, and then fell rapidly in the following year.

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 China ($X per unit), while the price for the United States amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+20.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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