Dominican Republic: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in the Dominican Republic

The Dominican machine-tool for working metal market shrank markedly to $X in 2021, falling by -47.5% 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, saw a tangible expansion. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Exports of Machine Tools For Working Metal

Exports from the Dominican Republic

Machine-tool for working metal exports from the Dominican Republic dropped to X units in 2021, with a decrease of -3.9% compared with the previous year's figure. Over the period under review, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 2,720% against the previous year. As a result, the exports attained the peak of X units, and then declined slightly in the following year.

In value terms, machine-tool for working metal exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 1,069% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for machine-tool for working metal exports from the Dominican Republic, accounting for a 53% share of total exports. Moreover, machine-tool for working metal exports to the United States exceeded the volume sent to the second major destination, Colombia (X units), threefold. The third position in this ranking was held by Peru (X units), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +42.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+52.4% per year) and Peru (+18.8% per year).

In value terms, the largest markets for machine-tool for working metal exported from the Dominican Republic were China ($X), Colombia ($X) and the United States ($X), with a combined 74% share of total exports. Costa Rica, Venezuela, Mexico, Nicaragua and Peru lagged somewhat behind, together accounting for a further 9%.

Mexico, with a CAGR of +78.7%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average machine-tool for working metal export price stood at $X per unit in 2021, surging by 111% against the previous year. Over the period under review, the export price, however, faced a drastic downturn. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was China ($X per unit), while the average price for exports to Peru ($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 Mexico (+73.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine Tools For Working Metal

Imports into the Dominican Republic

Machine-tool for working metal imports into the Dominican Republic declined notably to X units in 2021, with a decrease of -43.9% compared with the previous year. In general, imports, however, showed a buoyant expansion. The pace of growth was the most pronounced in 2017 when imports increased by 192%. As a result, imports reached the peak of X units. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, machine-tool for working metal imports shrank sharply to $X in 2021. Over the period under review, imports, however, saw a measured expansion. The pace of growth was the most pronounced in 2017 when imports increased by 102%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X units) constituted the largest machine-tool for working metal supplier to the Dominican Republic, with a 76% share of total imports. Moreover, machine-tool for working metal imports from the United States exceeded the figures recorded by the second-largest supplier, Switzerland (X units), threefold. China (X units) ranked third in terms of total imports with a 0.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States amounted to +12.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+95.6% per year) and China (+6.4% per year).

In value terms, China ($X) constituted the largest supplier of machine tools for working metal to the Dominican Republic, comprising 44% of total imports. The second position in the ranking was held by the United States ($X), with a 20% share of total imports. It was followed by Spain, with a 4.5% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-4.6% per year) and Spain (+6.6% per year).

Import Prices by Country

The average machine-tool for working metal import price stood at $X per unit in 2021, jumping by 29% against the previous year. Overall, the import price, however, recorded a noticeable contraction. The most prominent rate of growth was recorded in 2014 an increase of 136% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Jamaica ($X per unit), while the price for Switzerland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Jamaica (+149.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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