Dominican Republic: Optical Radiation Instruments Market 2024

Optical Radiation Instruments Market Size in the Dominican Republic

In 2022, after two years of growth, there was significant decline in the Dominican optical radiation instruments market, when its value decreased by -19.6% to $X. Over the period under review, consumption showed a strong expansion. Optical radiation instruments consumption peaked at $X in 2021, and then reduced remarkably in the following year.

Optical Radiation Instruments Exports

Exports from the Dominican Republic

Optical radiation instruments exports from the Dominican Republic shrank remarkably to X units in 2022, with a decrease of -48.6% on the year before. In general, exports faced a sharp reduction. The pace of growth was the most pronounced in 2013 when exports increased by 131%. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, optical radiation instruments exports reduced to $X in 2022. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 86%. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for optical radiation instruments exports from the Dominican Republic, accounting for a 78% share of total exports. Moreover, optical radiation instruments exports to the United States exceeded the volume sent to the second major destination, Canada (X units), fivefold.

From 2012 to 2022, the average annual growth rate of volume to the United States was relatively modest.

In value terms, the United States ($X) remains the key foreign market for instruments using optical radiations exports from the Dominican Republic, comprising 95% of total exports. The second position in the ranking was held by Canada ($X), with a 4.5% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +11.6%.

Export Prices by Country

In 2022, the average optical radiation instruments export price amounted to $X per unit, jumping by 85% against the previous year. Over the period under review, the export price enjoyed a significant increase. The pace of growth was the most pronounced in 2015 when the average export price increased by 378% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Canada totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+817.2%), while the prices for the other major destinations experienced more modest paces of growth.

Optical Radiation Instruments Imports

Imports into the Dominican Republic

In 2022, approx. X units of instruments using optical radiations were imported into the Dominican Republic; surging by 7.5% on 2021. In general, imports enjoyed a buoyant increase. The growth pace was the most rapid in 2020 with an increase of 88% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, optical radiation instruments imports fell notably to $X in 2022. Overall, imports recorded a noticeable expansion. The pace of growth was the most pronounced in 2017 when imports increased by 63%. Over the period under review, imports attained the peak figure at $X in 2021, and then dropped notably in the following year.

Imports by Country

China (X units), the United States (X units) and India (X units) were the main suppliers of optical radiation instruments imports to the Dominican Republic, with a combined 90% share of total imports. Turkey, Italy, Japan and Canada lagged somewhat behind, together comprising a further 6.7%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +312.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of instruments using optical radiations to the Dominican Republic, comprising 56% of total imports. The second position in the ranking was taken by China ($X), with a 27% share of total imports. It was followed by Italy, with a 4.1% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+17.3% per year) and Italy (+0.6% per year).

Import Prices by Country

The average optical radiation instruments import price stood at $X per unit in 2022, falling by -39.4% against the previous year. Overall, the import price continues to indicate a drastic downturn. The growth pace was the most rapid in 2019 when the average import price increased by 41% against the previous year. As a result, import price attained the peak level of $X per unit. From 2020 to 2022, the average 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 Japan ($X per unit), while the price for Turkey ($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 (+15.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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