Dominican Republic: Industrial Sewing Machine Market 2024

Industrial Sewing Machine Market Size in the Dominican Republic

The Dominican industrial sewing machine market amounted to $X in 2022, growing by 14% against the previous year. Over the period under review, consumption, however, showed a perceptible shrinkage. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Industrial Sewing Machine Production in the Dominican Republic

In value terms, industrial sewing machine production totaled $X in 2022 estimated in export price. In general, production, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2019 with an increase of 199%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Industrial Sewing Machine Exports

Exports from the Dominican Republic

In 2022, the amount of industrial sewing machines exported from the Dominican Republic soared to X units, increasing by 51% against 2021. Overall, exports showed significant growth. The growth pace was the most rapid in 2013 when exports increased by 159%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, industrial sewing machine exports reduced dramatically to $X in 2022. Over the period under review, exports enjoyed a prominent expansion. The pace of growth was the most pronounced in 2017 when exports increased by 172%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Haiti (X units), Nicaragua (X units) and Guatemala (X units) were the main destinations of industrial sewing machine exports from the Dominican Republic, together accounting for 93% of total exports.

From 2012 to 2022, the biggest increases were recorded for Guatemala (with a CAGR of +94.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Haiti ($X) remains the key foreign market for industrial sewing machines exports from the Dominican Republic, comprising 69% of total exports. The second position in the ranking was held by Nicaragua ($X), with a 20% share of total exports. It was followed by the United States, with a 5.1% share.

From 2012 to 2022, the average annual growth rate of value to Haiti amounted to +35.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (+30.5% per year) and the United States (-0.3% per year).

Export Prices by Country

The average industrial sewing machine export price stood at $X per unit in 2022, with a decrease of -45% against the previous year. Overall, the export price showed a abrupt descent. The most prominent rate of growth was recorded in 2017 when the average export price increased by 86%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a 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 Haiti ($X per unit), while the average price for exports to Guatemala ($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 Bangladesh (+210.1%), while the prices for the other major destinations experienced mixed trend patterns.

Industrial Sewing Machine Imports

Imports into the Dominican Republic

In 2022, the amount of industrial sewing machines imported into the Dominican Republic soared to X units, with an increase of 59% compared with the year before. Over the period under review, imports showed a buoyant expansion. The pace of growth was the most pronounced in 2015 with an increase of 134%. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, industrial sewing machine imports surged to $X in 2022. Overall, imports saw a buoyant expansion. The growth pace was the most rapid in 2015 when imports increased by 137% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest industrial sewing machine supplier to the Dominican Republic, with a 68% share of total imports. Moreover, industrial sewing machine imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +44.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+12.4% per year) and Japan (+54.2% per year).

In value terms, China ($X), Japan ($X) and the United States ($X) appeared to be the largest industrial sewing machine suppliers to the Dominican Republic, with a combined 95% share of total imports.

Japan, with a CAGR of +72.5%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average industrial sewing machine import price stood at $X per unit in 2022, waning by -15.4% against the previous year. Overall, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, industrial sewing machine import price increased by +36.7% against 2014 indices. The growth pace was the most rapid in 2019 when the average import price increased by 34%. The import price peaked at $X per unit in 2021, and then plummeted 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 Japan ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+11.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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