Dominican Republic: Market for Iron or Steel Cans 2024

Market Size for Iron or Steel Cans in the Dominican Republic

The Dominican iron or steel can market shrank to $X in 2021, dropping by -7.2% against the previous year. The market value increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Iron or steel can consumption peaked at $X in 2020, and then dropped in the following year.

Production of Iron or Steel Cans in the Dominican Republic

In value terms, iron or steel can production fell to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.3% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when the production volume increased by 18%. As a result, production reached the peak level of $X, and then dropped in the following year.

Exports of Iron or Steel Cans

Exports from the Dominican Republic

In 2021, overseas shipments of iron or steel cans increased by 28% to X units, rising for the second year in a row after two years of decline. Overall, exports, however, recorded a abrupt decline. The pace of growth was the most pronounced in 2017 when exports increased by 68% against the previous year. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, iron or steel can exports surged to $X in 2021. Over the period under review, exports, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 80%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Haiti (X units) was the main destination for iron or steel can exports from the Dominican Republic, with a 63% share of total exports. Moreover, iron or steel can exports to Haiti exceeded the volume sent to the second major destination, the United States (X units), threefold. Jamaica (X units) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to Haiti totaled +8.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-28.3% per year) and Jamaica (-4.4% per year).

In value terms, Haiti ($X), the United States ($X) and Jamaica ($X) appeared to be the largest markets for iron or steel can exported from the Dominican Republic worldwide, with a combined 93% share of total exports.

Haiti, with a CAGR of +4.7%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average iron or steel can export price amounted to $X per unit, picking up by 3.9% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average export price increased by 9.7% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Bahamas ($X per unit), while the average price for exports to Haiti ($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 Jamaica (+6.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Cans

Imports into the Dominican Republic

In 2021, approx. X units of iron or steel cans were imported into the Dominican Republic; increasing by 8.2% on the previous year. Over the period under review, imports showed a significant expansion. The pace of growth appeared the most rapid in 2016 when imports increased by 95%. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in the immediate term.

In value terms, iron or steel can imports expanded remarkably to $X in 2021. In general, imports showed a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 113% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, the United States (X units) was the main iron or steel can supplier to the Dominican Republic, with a approx. 98% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at +32.1%.

In value terms, the United States ($X) constituted the largest supplier of iron or steel cans to the Dominican Republic.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at +34.7%.

Import Prices by Country

In 2021, the average iron or steel can import price amounted to $X per unit, therefore, remained relatively stable against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2016 when the average import price increased by 9.6% against the previous year. The import price peaked at $X per unit in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to +2.0% per year.

Source: IndexBox Platform

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