Dominican Republic: Market for Machine-Tools For Working Wood 2024

Market Size for Machine-Tools For Working Wood in the Dominican Republic

The Dominican machine-tool for working wood market surged to $X in 2021, increasing by 101% 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). Overall, consumption saw a resilient increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Exports of Machine-Tools For Working Wood

Exports from the Dominican Republic

In 2021, after three years of decline, there was significant growth in overseas shipments of machine-tools for working wood, when their volume increased by 260% to X tons. Over the period under review, exports saw measured growth. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, machine-tool for working wood exports surged to $X in 2021. Overall, exports posted a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Ecuador (X tons) was the main destination for machine-tool for working wood exports from the Dominican Republic, accounting for a 63% share of total exports. Moreover, machine-tool for working wood exports to Ecuador exceeded the volume sent to the second major destination, Haiti (X kg), sixfold. The third position in this ranking was held by the United States (X kg), with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Ecuador totaled +8.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (-12.6% per year) and the United States (+52.8% per year).

In value terms, the largest markets for machine-tool for working wood exported from the Dominican Republic were Haiti ($X), Ecuador ($X) and the United States ($X), together accounting for 79% of total exports.

Among the main countries of destination, the United States, with a CAGR of +64.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average machine-tool for working wood export price amounted to $X per ton, picking up by 49% against the previous year. Overall, the export price continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2015 when the average export price increased by 127% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Costa Rica ($X per ton), while the average price for exports to Nicaragua ($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 Costa Rica (+45.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine-Tools For Working Wood

Imports into the Dominican Republic

In 2021, the amount of machine-tools for working wood imported into the Dominican Republic skyrocketed to X tons, rising by 113% compared with 2020. Overall, imports posted prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, machine-tool for working wood imports surged to $X in 2021. Over the period under review, imports recorded a buoyant expansion. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest machine-tool for working wood supplier to the Dominican Republic, with a 42% share of total imports. Moreover, machine-tool for working wood imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. Spain (X tons) ranked third in terms of total imports with a 7.2% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +21.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+10.9% per year) and Spain (+21.0% per year).

In value terms, China ($X) constituted the largest supplier of machine-tools for working wood to the Dominican Republic, comprising 39% of total imports. The second position in the ranking was taken by the United States ($X), with a 12% share of total imports. It was followed by Italy, with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +12.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+1.7% per year) and Italy (+42.2% per year).

Import Prices by Country

In 2021, the average machine-tool for working wood import price amounted to $X per ton, reducing by -6.7% against the previous year. Overall, the import price showed a deep downturn. The most prominent rate of growth was recorded in 2019 an increase of 6%. The import price peaked at $X per ton in 2013; however, from 2014 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 Italy ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+3.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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