Dominican Republic: Invalid Carriage Market 2024

Invalid Carriage Market Size in the Dominican Republic

The Dominican invalid carriage market soared to $X in 2022, increasing by 76% 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). Over the period under review, consumption showed a significant increase. Invalid carriage consumption peaked in 2022 and is expected to retain growth in years to come.

Invalid Carriage Exports

Exports from the Dominican Republic

In 2022, after five years of decline, there was significant growth in overseas shipments of invalid carriages not mechanically propelled, when their volume increased by 33% to X units. Over the period under review, exports, however, showed a sharp reduction. The growth pace was the most rapid in 2015 when exports increased by 65%. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, invalid carriage exports surged to $X in 2022. In general, exports, however, recorded a sharp contraction. The most prominent rate of growth was recorded in 2014 with an increase of 100% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units), Haiti (X units) and Venezuela (X units) were the main destinations of invalid carriage exports from the Dominican Republic. Moreover, invalid carriage exports in the United States exceeded the figures recorded by the second-largest exporter, Haiti, twofold.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +7.2%), while the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) emerged as the key foreign market for invalid carriages not mechanically propelled exports from the Dominican Republic, comprising 81% of total exports. The second position in the ranking was held by Haiti ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +52.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (-39.3% per year) and Venezuela (0.0% per year).

Export Prices by Country

The average invalid carriage export price stood at $X per unit in 2022, growing by 37% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 79% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Venezuela ($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 Spain (+75.8%), while the prices for the other major destinations experienced more modest paces of growth.

Invalid Carriage Imports

Imports into the Dominican Republic

In 2022, overseas purchases of invalid carriages not mechanically propelled increased by 55% to X units, rising for the third consecutive year after two years of decline. In general, imports showed a significant increase. The most prominent rate of growth was recorded in 2016 when imports increased by 94%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, invalid carriage imports soared to $X in 2022. Overall, imports recorded significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 131% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of invalid carriage to the Dominican Republic, with a 66% share of total imports. Moreover, invalid carriage imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. Canada (X units) ranked third in terms of total imports with an 8.3% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +28.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+67.3% per year) and Canada (+117.9% per year).

In value terms, the United States ($X) constituted the largest supplier of invalid carriages not mechanically propelled to the Dominican Republic, comprising 66% of total imports. The second position in the ranking was held by China ($X), with a 31% share of total imports. It was followed by Spain, with a 1.4% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled +72.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+43.7% per year) and Spain (+25.8% per year).

Import Prices by Country

The average invalid carriage import price stood at $X per unit in 2022, surging by 22% against the previous year. In general, the import price enjoyed strong growth. The pace of growth was the most pronounced in 2019 when the average import price increased by 125%. The import price peaked in 2022 and is likely to continue growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+12.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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