Dominican Republic: Food Manufacture Machinery Market 2024

Food Manufacture Machinery Market Size in the Dominican Republic

The Dominican food manufacture machinery market amounted to $X in 2021, remaining relatively unchanged 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, however, recorded a prominent expansion. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Food Manufacture Machinery Exports

Exports from the Dominican Republic

In 2021, shipments abroad of machinery for the preparation or manufacture of food or drink decreased by -59.6% to X units, falling for the fourth year in a row after two years of growth. Overall, exports, however, recorded a noticeable expansion. The pace of growth was the most pronounced in 2013 when exports increased by 3,775%. The exports peaked at X units in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, food manufacture machinery exports rose notably to $X in 2021. Over the period under review, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 5,998% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Spain (X units) was the main destination for food manufacture machinery exports from the Dominican Republic, accounting for a 76% share of total exports. Moreover, food manufacture machinery exports to Spain exceeded the volume sent to the second major destination, Cuba (X units), eightfold. Mexico (X units) ranked third in terms of total exports with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Spain stood at +36.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (+14.9% per year) and Mexico (0.0% per year).

In value terms, the United States ($X), Guatemala ($X) and Spain ($X) were the largest markets for food manufacture machinery exported from the Dominican Republic worldwide, together accounting for 79% of total exports.

The United States, with a CAGR of +103.4%, recorded the highest growth rate of 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 food manufacture machinery export price stood at $X per unit in 2021, with an increase of 184% against the previous year. Over the period under review, the export price recorded a significant expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Guatemala ($X per unit), while the average price for exports to Italy ($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 Guatemala (+117.6%), while the prices for the other major destinations experienced more modest paces of growth.

Food Manufacture Machinery Imports

Imports into the Dominican Republic

In 2021, supplies from abroad of machinery for the preparation or manufacture of food or drink decreased by -2.9% to X units, falling for the second consecutive year after two years of growth. Overall, imports, however, showed noticeable growth. The most prominent rate of growth was recorded in 2013 with an increase of 537% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, food manufacture machinery imports expanded modestly to $X in 2021. Over the period under review, imports, however, showed prominent growth. The pace of growth appeared the most rapid in 2013 with an increase of 537% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

China (X units), the United States (X units) and Turkey (X units) were the main suppliers of food manufacture machinery imports to the Dominican Republic, together comprising 50% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +63.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest food manufacture machinery suppliers to the Dominican Republic were China ($X), the United States ($X) and Spain ($X), with a combined 38% share of total imports. Italy, Germany, Turkey, Panama, Brazil, Taiwan (Chinese), Guatemala and Nicaragua lagged somewhat behind, together comprising a further 17%.

In terms of the main suppliers, Turkey, with a CAGR of +57.7%, saw the highest rates of growth with regard to 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 2021, the average food manufacture machinery import price amounted to $X per unit, growing by 4.9% against the previous year. Over the period under review, the import price saw a prominent increase. The pace of growth appeared the most rapid in 2018 an increase of 88%. Over the period under review, average import prices hit record highs in 2021 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per unit), while the price for Guatemala ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+103.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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