Dominican Republic: Market for Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) in the Dominican Republic

The Dominican market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) soared to $X in 2021, picking up by 56% 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, the total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Consumption of peaked at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Exports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Exports from the Dominican Republic

In 2021, shipments abroad of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports continue to indicate a strong increase. The pace of growth was the most pronounced in 2013 with an increase of 567%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) surged to $X in 2021. In general, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when exports increased by 258%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Turks and Caicos Islands (X tons) was the main destination for exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from the Dominican Republic, accounting for a 63% share of total exports. Moreover, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to Turks and Caicos Islands exceeded the volume sent to the second major destination, Haiti (X tons), twofold. The United States (X tons) ranked third in terms of total exports with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turks and Caicos Islands totaled +153.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (+18.5% per year) and the United States (-9.6% per year).

In value terms, Turks and Caicos Islands ($X), Haiti ($X) and the United States ($X) appeared to be the largest markets for internal combustion engine (excl. diesel, moto vehicle and aircraft) exported from the Dominican Republic worldwide, together comprising 100% of total exports.

In terms of the main countries of destination, Turks and Caicos Islands, with a CAGR of +175.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average export price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) stood at $X per ton in 2021, declining by -67.4% against the previous year. Overall, the export price recorded a abrupt setback. The most prominent rate of growth was recorded in 2020 an increase of 119%. As a result, the export price attained the peak level of $X per ton, and then contracted significantly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turks and Caicos Islands (+8.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Imports into the Dominican Republic

Imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) into the Dominican Republic skyrocketed to X tons in 2021, growing by 84% compared with the year before. Over the period under review, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) soared to $X in 2021. Overall, total imports indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -5.0% against 2019 indices. Over the period under review, imports of hit record highs at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

Japan (X tons), China (X tons) and the United States (X tons) were the main suppliers of imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to the Dominican Republic, with a combined 91% share of total imports. These countries were followed by Mexico and Colombia, which together accounted for a further 3.7%.

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +40.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), the United States ($X) and China ($X) appeared to be the largest internal combustion engine (excl. diesel, moto vehicle and aircraft) suppliers to the Dominican Republic, with a combined 90% share of total imports. These countries were followed by Colombia and Mexico, which together accounted for a further 3.9%.

Mexico, with a CAGR of +32.9%, recorded the highest growth rate of the value of imports, among 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 import price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) stood at $X per ton in 2021, waning by -15% against the previous year. Overall, the import price continues to indicate a perceptible shrinkage. The pace of growth appeared the most rapid in 2016 when the average import price increased by 29% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (-0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :