Dominican Republic: Measuring Instrument Market 2022

Measuring Instrument Market Size in the Dominican Republic

The Dominican measuring instrument market soared to $X in 2021, increasing by 25% 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 significant growth. Over the period under review, the market reached the peak level in 2021 and is likely to see gradual growth in the immediate term.

Measuring Instrument Exports

Exports from the Dominican Republic

In 2021, approx. X units of instruments and apparatus for measuring or checking the flow or level of liquids were exported from the Dominican Republic; which is down by -79.3% on 2020. Overall, exports faced a precipitous shrinkage. The pace of growth appeared the most rapid in 2015 when exports increased by 193% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, measuring instrument exports surged to $X in 2021. In general, exports, however, enjoyed a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico (X units), Haiti (X units) and the United States (X units) were the main destinations of measuring instrument exports from the Dominican Republic, together comprising 93% of total exports. Switzerland lagged somewhat behind, comprising a further 5.4%.

From 2012 to 2021, the biggest increases were in Switzerland (with a CAGR of +21.0%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) emerged as the key foreign market for measuring instrument exports from the Dominican Republic, comprising 14% of total exports. The second position in the ranking was held by Haiti ($X), with a 1% share of total exports. It was followed by Switzerland, with a 0.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +10.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (+18.4% per year) and Switzerland (+19.4% per year).

Export Prices by Country

In 2021, the average measuring instrument export price amounted to $X per unit, surging by 1,560% against the previous year. In general, the export price posted significant growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the United States ($X per unit), while the average price for exports to Mexico ($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 Cuba (+57.5%), while the prices for the other major destinations experienced more modest paces of growth.

Measuring Instrument Imports

Imports into the Dominican Republic

In 2021, approx. X units of instruments and apparatus for measuring or checking the flow or level of liquids were imported into the Dominican Republic; with an increase of 24% against 2020 figures. In general, imports recorded significant growth. The pace of growth appeared the most rapid in 2016 with an increase of 78%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, measuring instrument imports surged to $X in 2021. Over the period under review, imports saw a buoyant increase. The pace of growth was the most pronounced in 2016 with an increase of 71%. Imports peaked in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, the United States (X units) constituted the largest supplier of measuring instrument to the Dominican Republic, with a 67% share of total imports. Moreover, measuring instrument imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), sixfold. The third position in this ranking was held by Spain (X units), with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled +24.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+28.8% per year) and Spain (+25.3% per year).

In value terms, the United States ($X) constituted the largest supplier of measuring instrument to the Dominican Republic, comprising 39% of total imports. The second position in the ranking was held by Spain ($X), with a 19% share of total imports. It was followed by China, with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+34.7% per year) and China (+16.2% per year).

Import Prices by Country

In 2021, the average measuring instrument import price amounted to $X per unit, reducing by -1.7% against the previous year. In general, the import price saw a deep reduction. The most prominent rate of growth was recorded in 2015 an increase of 7.9% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Spain ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+7.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :