Dominican Republic: Loading Machinery Market 2024

Loading Machinery Market Size in the Dominican Republic

The Dominican loading machinery market amounted to $X in 2022, increasing by 2.3% against the previous year. Overall, consumption continues to indicate a strong increase. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Loading Machinery Production in the Dominican Republic

In value terms, loading machinery production rose modestly to $X in 2022 estimated in export price. In general, production saw buoyant growth. The growth pace was the most rapid in 2018 when the production volume increased by 28% against the previous year. Loading machinery production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Loading Machinery Exports

Exports from the Dominican Republic

In 2022, shipments abroad of lifting, handling, loading or unloading machinery increased by 264% to X units, rising for the second year in a row after two years of decline. In general, exports, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2018 with an increase of 2,419% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, loading machinery exports skyrocketed to $X in 2022. Overall, exports, however, showed a abrupt decline. The growth pace was the most rapid in 2018 when exports increased by 3,130%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for loading machinery exports from the Dominican Republic, with a 78% share of total exports. Moreover, loading machinery exports to the United States exceeded the volume sent to the second major destination, Costa Rica (X units), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to -20.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (0.0% per year) and France (-20.3% per year).

In value terms, the United States ($X) emerged as the key foreign market for lifting, handling, loading or unloading machinery exports from the Dominican Republic, comprising 52% of total exports. The second position in the ranking was taken by Costa Rica ($X), with a 24% share of total exports. It was followed by France, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at -21.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (0.0% per year) and France (-9.9% per year).

Export Prices by Country

The average loading machinery export price stood at $X per unit in 2022, surging by 44% against the previous year. In general, the export price enjoyed slight growth. The pace of growth was the most pronounced in 2016 an increase of 370% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to Haiti ($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 Brazil (+405.7%), while the prices for the other major destinations experienced mixed trend patterns.

Loading Machinery Imports

Imports into the Dominican Republic

In 2022, imports of lifting, handling, loading or unloading machinery into the Dominican Republic declined notably to X units, waning by -30.9% compared with the previous year. In general, imports, however, continue to indicate measured growth. The most prominent rate of growth was recorded in 2016 with an increase of 277% against the previous year. As a result, imports reached the peak of X units. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, loading machinery imports dropped significantly to $X in 2022. Overall, imports, however, posted a prominent increase. The pace of growth appeared the most rapid in 2016 when imports increased by 316% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

China (X units), the United States (X units) and Spain (X units) were the main suppliers of loading machinery imports to the Dominican Republic, with a combined 77% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +22.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Panama ($X) were the largest loading machinery suppliers to the Dominican Republic, together comprising 77% of total imports. Malaysia, Spain, Canada, Turkey, Germany, Poland and the UK lagged somewhat behind, together comprising a further 20%.

Poland, with a CAGR of +167.0%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 loading machinery import price stood at $X per unit in 2022, waning by -2.5% against the previous year. Overall, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, loading machinery import price increased by +82.6% against 2017 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 41% against the previous year. As a result, import price reached the peak level of $X per unit, and then shrank modestly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Panama ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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