Dominican Republic: Machine-Tool For Drilling Market 2024

Machine-Tool For Drilling Market Size in the Dominican Republic

The Dominican machine-tool for drilling market contracted significantly to $X in 2022, falling by -31.4% 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, consumption, however, enjoyed a notable increase. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Machine-Tool For Drilling Exports

Exports from the Dominican Republic

In 2022, the amount of machine-tools for drilling, boring or milling metal exported from the Dominican Republic declined significantly to X units, which is down by -53.8% on the year before. In general, exports recorded a perceptible reduction. The pace of growth appeared the most rapid in 2019 with an increase of 450%. Over the period under review, the exports attained the peak figure at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, machine-tool for drilling exports declined slightly to $X in 2022. Overall, exports recorded a deep downturn. The pace of growth appeared the most rapid in 2019 with an increase of 459%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units), Canada (X units) and Turks and Caicos Islands (X units) were the main destinations of machine-tool for drilling exports from the Dominican Republic, with a combined 99.9% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of 0.0%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Turks and Caicos Islands ($X), Canada ($X) and the United States ($X) were the largest markets for machine-tool for drilling exported from the Dominican Republic worldwide, together comprising 94% of total exports.

In terms of the main countries of destination, Canada, with a CAGR of +138.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average machine-tool for drilling export price amounted to $X per unit, surging by 107% against the previous year. In general, the export price, however, continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2017 when the average export price increased by 5,783%. As a result, the export price attained the peak level of $X per unit. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Turks and Caicos Islands ($X per unit), while the average price for exports to the United States ($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 Jamaica (+36.1%).

Machine-Tool For Drilling Imports

Imports into the Dominican Republic

In 2022, the amount of machine-tools for drilling, boring or milling metal imported into the Dominican Republic shrank remarkably to X units, falling by -25.5% compared with 2021 figures. Overall, imports, however, continue to indicate a notable increase. The most prominent rate of growth was recorded in 2020 when imports increased by 160%. Over the period under review, imports attained the maximum at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, machine-tool for drilling imports shrank dramatically to $X in 2022. Over the period under review, imports, however, enjoyed a temperate increase. The most prominent rate of growth was recorded in 2018 with an increase of 109% against the previous year. As a result, imports attained the peak of $X. From 2019 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 machine-tool for drilling imports to the Dominican Republic, with a combined 95% share of total imports. These countries were followed by South Korea, which accounted for a further 5%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +43.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest machine-tool for drilling suppliers to the Dominican Republic were the United States ($X), China ($X) and Spain ($X), together comprising 98% of total imports. These countries were followed by South Korea, which accounted for a further 1.6%.

In terms of the main suppliers, South Korea, with a CAGR of +79.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average machine-tool for drilling import price amounted to $X per unit, waning by -24.2% against the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average import price increased by 199% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices failed to regain momentum.

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 the United States ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+31.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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