Dominican Republic: Market for Machines For Preparing, Weaving And Knitting Textiles 2024

Market Size for Machines For Preparing, Weaving And Knitting Textiles in the Dominican Republic

In 2021, the Dominican market for machines for preparing, weaving and knitting textiles decreased by -48.5% to $X, falling for the second year in a row after two years of growth. In general, consumption, however, showed a significant expansion. Textile weaving and knitting machinery consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Exports of Machines For Preparing, Weaving And Knitting Textiles

Exports from the Dominican Republic

For the third consecutive year, the Dominican Republic recorded growth in overseas shipments of machines for preparing, weaving and knitting textiles, which increased by 378% to X units in 2021. Overall, exports continue to indicate a buoyant expansion. The growth pace was the most rapid in 2020 when exports increased by 419%. The exports peaked in 2021 and are likely to continue growth in the near future.

In value terms, textile weaving and knitting machinery exports soared to $X in 2021. In general, exports saw a resilient expansion. The growth pace was the most rapid in 2020 when exports increased by 399%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the near future.

Exports by Country

Vietnam (X units), the United States (X units) and Venezuela (X units) were the main destinations of textile weaving and knitting machinery exports from the Dominican Republic, with a combined 83% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +44.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) emerged as the key foreign market for machines for preparing, weaving and knitting textiles exports from the Dominican Republic, comprising 68% of total exports. The second position in the ranking was held by the United States ($X), with a 14% share of total exports. It was followed by Pakistan, with a 5.1% share.

From 2012 to 2021, the average annual growth rate of value to Vietnam amounted to +259.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+23.7% per year) and Pakistan (0.0% per year).

Export Prices by Country

The average export price for machines for preparing, weaving and knitting textiles stood at $X per unit in 2021, falling by -23.1% against the previous year. Over the period under review, the export price continues to indicate a drastic downturn. The pace of growth was the most pronounced in 2018 when the average export price increased by 121% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Pakistan ($X per unit), while the average price for exports to Venezuela ($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 Vietnam (+188.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Machines For Preparing, Weaving And Knitting Textiles

Imports into the Dominican Republic

In 2021, purchases abroad of machines for preparing, weaving and knitting textiles decreased by -12.6% to X units, falling for the second year in a row after two years of growth. Overall, imports, however, showed a significant increase. The growth pace was the most rapid in 2014 with an increase of 123% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, textile weaving and knitting machinery imports skyrocketed to $X in 2021. In general, imports, however, saw a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 139%. Imports peaked in 2021 and are likely to see gradual growth in years to come.

Imports by Country

Austria (X units), China (X units) and the United States (X units) were the main suppliers of textile weaving and knitting machinery imports to the Dominican Republic, with a combined 63% share of total imports. These countries were followed by Hong Kong SAR, Taiwan (Chinese), Japan, Italy and Honduras, which together accounted for a further 28%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hong Kong SAR (with a CAGR of +46.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Austria ($X) constituted the largest supplier of machines for preparing, weaving and knitting textiles to the Dominican Republic, comprising 40% of total imports. The second position in the ranking was taken by the United States ($X), with a 13% share of total imports. It was followed by Hong Kong SAR, with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Austria totaled +21.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+14.6% per year) and Hong Kong SAR (+39.3% per year).

Import Prices by Country

The average import price for machines for preparing, weaving and knitting textiles stood at $X per unit in 2021, picking up by 54% against the previous year. In general, the import price, however, continues to indicate a mild downturn. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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