Dominican Republic: Interchangeable Spanner Socket Market 2025

Interchangeable Spanner Socket Market Size in the Dominican Republic

The Dominican interchangeable spanner socket market surged to $X in 2022, growing by 27% 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 saw a buoyant increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Interchangeable Spanner Socket Exports

Exports from the Dominican Republic

In 2022, approx. X tons of interchangeable spanner sockets were exported from the Dominican Republic; picking up by 656% on 2021 figures. Over the period under review, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 1,502%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, interchangeable spanner socket exports surged to $X in 2022. In general, exports enjoyed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for interchangeable spanner socket exports from the Dominican Republic, accounting for a 94% share of total exports. Moreover, interchangeable spanner socket exports to the United States exceeded the volume sent to the second major destination, Haiti (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +77.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (+25.9% per year) and Switzerland (-49.4% per year).

In value terms, the United States ($X) emerged as the key foreign market for interchangeable spanner sockets exports from the Dominican Republic, comprising 94% of total exports. The second position in the ranking was taken by Haiti ($X), with a 4.7% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +83.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (+30.5% per year) and Switzerland (+0.7% per year).

Export Prices by Country

In 2022, the average interchangeable spanner socket export price amounted to $X per ton, jumping by 452% against the previous year. Over the period under review, the export price showed a prominent expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Haiti ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cuba (+227.7%), while the prices for the other major destinations experienced more modest paces of growth.

Interchangeable Spanner Socket Imports

Imports into the Dominican Republic

Interchangeable spanner socket imports into the Dominican Republic surged to X tons in 2022, growing by 31% on the year before. Over the period under review, imports saw a remarkable increase. The pace of growth was the most pronounced in 2016 with an increase of 70%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, interchangeable spanner socket imports surged to $X in 2022. Overall, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +78.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 36% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of interchangeable spanner socket to the Dominican Republic, with a 69% share of total imports. Moreover, interchangeable spanner socket imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from China totaled +24.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+16.1% per year) and the United States (-6.8% per year).

In value terms, the largest interchangeable spanner socket suppliers to the Dominican Republic were China ($X), Mexico ($X) and the United States ($X), with a combined 90% share of total imports.

China, with a CAGR of +10.0%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average interchangeable spanner socket import price stood at $X per ton in 2022, approximately equating the previous year. In general, the import price, however, showed a deep setback. The most prominent rate of growth was recorded in 2021 an increase of 33%. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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