Dominican Republic: Hide Preparing Machinery Market 2024

Hide Preparing Machinery Market Size in the Dominican Republic

The Dominican hide preparing machinery market skyrocketed to $X in 2022, increasing by 343% against the previous year. In general, consumption, however, continues to indicate a deep reduction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Hide Preparing Machinery Production in the Dominican Republic

In value terms, hide preparing machinery production contracted to $X in 2022 estimated in export price. In general, production recorded a pronounced decline. The most prominent rate of growth was recorded in 2013 with an increase of 15% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Hide Preparing Machinery Exports

Exports from the Dominican Republic

In 2022, shipments abroad of machinery for preparing, tanning or working hides, skins or leather decreased by 0% to X units, falling for the third year in a row after two years of growth. Over the period under review, exports enjoyed a mild increase. The pace of growth was the most pronounced in 2015 when exports increased by 233%. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, hide preparing machinery exports surged to $X in 2022. Overall, exports recorded a noticeable shrinkage. The growth pace was the most rapid in 2019 with an increase of 324% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Italy (X units) was the main destination for hide preparing machinery exports from the Dominican Republic, with a 67% share of total exports. Moreover, hide preparing machinery exports to Italy exceeded the volume sent to the second major destination, the United States (X units), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Italy stood at +14.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (0.0% per year) and Haiti (0.0% per year).

In value terms, Italy ($X) remains the key foreign market for machinery for preparing, tanning or working hides, skins or leather exports from the Dominican Republic, comprising 92% of total exports. The second position in the ranking was held by the United States ($X), with a 5.7% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Italy stood at +11.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-15.9% per year) and Haiti (-16.7% per year).

Export Prices by Country

The average hide preparing machinery export price stood at $X per unit in 2022, surging by 155% against the previous year. Over the period under review, the export price, however, recorded a abrupt shrinkage. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to Haiti ($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 the Netherlands (+35.6%), while the prices for the other major destinations experienced a decline.

Hide Preparing Machinery Imports

Imports into the Dominican Republic

Hide preparing machinery imports into the Dominican Republic surged to X units in 2022, increasing by 425% on 2021. Over the period under review, imports, however, saw a abrupt downturn. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, hide preparing machinery imports soared to $X in 2022. Overall, imports, however, showed a dramatic decline. The most prominent rate of growth was recorded in 2019 when imports increased by 119%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Slovakia (X units) constituted the largest hide preparing machinery supplier to the Dominican Republic, accounting for a 63% share of total imports. Moreover, hide preparing machinery imports from Slovakia exceeded the figures recorded by the second-largest supplier, Ukraine (X units), threefold. The United States (X units) ranked third in terms of total imports with a 4.8% share.

From 2012 to 2022, the average annual growth rate of volume from Slovakia amounted to +3,900.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (0.0% per year) and the United States (-9.3% per year).

In value terms, the United States ($X) constituted the largest supplier of machinery for preparing, tanning or working hides, skins or leather to the Dominican Republic, comprising 61% of total imports. The second position in the ranking was held by Italy ($X), with a 21% share of total imports. It was followed by Brazil, with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled -10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+34.8% per year) and Brazil (-43.7% per year).

Import Prices by Country

In 2022, the average hide preparing machinery import price amounted to $X per unit, declining by -68.2% against the previous year. In general, the import price recorded a dramatic curtailment. The pace of growth appeared the most rapid in 2016 when the average import price increased by 25%. As a result, import price attained the peak level of $X per unit. From 2017 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+34.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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