Dominican Republic: Knitted Fabric Market 2024

Knitted Fabric Market Size in the Dominican Republic

The Dominican knitted fabric market skyrocketed to $X in 2021, picking up by 19% against the previous year. The market value increased at an average annual rate of +3.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Knitted Fabric Production in the Dominican Republic

In value terms, knitted fabric production reduced to $X in 2021 estimated in export price. In general, production, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 83% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Knitted Fabric Exports

Exports from the Dominican Republic

In 2021, approx. X tons of knitted or crocheted fabrics were exported from the Dominican Republic; dropping by -25.2% on 2020 figures. In general, exports, however, posted a pronounced expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 69% against the previous year. As a result, the exports attained the peak of X tons, and then dropped rapidly in the following year.

In value terms, knitted fabric exports contracted markedly to $X in 2021. Overall, exports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 113%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Haiti (X tons) was the main destination for knitted fabric exports from the Dominican Republic, with a 29% share of total exports. Moreover, knitted fabric exports to Haiti exceeded the volume sent to the second major destination, the United States (X tons), more than tenfold. Nicaragua (X tons) ranked third in terms of total exports with a 1.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Haiti stood at -26.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-8.9% per year) and Nicaragua (-19.2% per year).

In value terms, Haiti ($X) emerged as the key foreign market for knitted or crocheted fabrics exports from the Dominican Republic, comprising 51% of total exports. The second position in the ranking was held by Nicaragua ($X), with an 8.4% share of total exports. It was followed by the United States, with a 5.9% share.

From 2012 to 2021, the average annual growth rate of value to Haiti amounted to -27.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (+22.9% per year) and the United States (-7.7% per year).

Export Prices by Country

In 2021, the average knitted fabric export price amounted to $X per ton, stabilizing at the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. The pace of growth was the most pronounced in 2013 an increase of 67%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, 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 Nicaragua ($X per ton), while the average price for exports to Haiti ($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 Nicaragua (+52.2%), while the prices for the other major destinations experienced more modest paces of growth.

Knitted Fabric Imports

Imports into the Dominican Republic

In 2021, knitted fabric imports into the Dominican Republic soared to X tons, with an increase of 66% against the previous year. Over the period under review, imports, however, saw a relatively flat trend pattern. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, knitted fabric imports surged to $X in 2021. Overall, imports, however, continue to indicate a mild curtailment. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United States (X tons), China (X tons) and Honduras (X tons) were the main suppliers of knitted fabric imports to the Dominican Republic, with a combined 68% share of total imports. Peru, Guatemala, El Salvador, Mexico and Thailand lagged somewhat behind, together accounting for a further 8.9%.

From 2012 to 2021, the biggest increases were recorded for Guatemala (with a CAGR of +146.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of knitted or crocheted fabrics to the Dominican Republic, comprising 47% of total imports. The second position in the ranking was taken by China ($X), with a 12% share of total imports. It was followed by Peru, with a 2.6% share.

From 2012 to 2021, the average annual growth rate of value from the United States stood at +11.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+10.6% per year) and Peru (+36.3% per year).

Import Prices by Country

In 2021, the average knitted fabric import price amounted to $X per ton, growing by 10% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. Over the period under review, average import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+13.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :