Dominican Republic: Grinding Machine Market 2024

Grinding Machine Market Size in the Dominican Republic

In 2021, the Dominican grinding machine market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption saw a resilient expansion. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Grinding Machine Exports

Exports from the Dominican Republic

In 2021, overseas shipments of machines having individual functions, for mixing, kneading, crushing or grinding decreased by -87.8% to X units, falling for the second consecutive year after four years of growth. Overall, exports recorded a deep contraction. The pace of growth was the most pronounced in 2017 when exports increased by 727% against the previous year. Over the period under review, the exports attained the maximum at X units in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, grinding machine exports shrank sharply to $X in 2021. In general, exports continue to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 138%. Over the period under review, the exports reached the maximum at $X in 2020, and then plummeted in the following year.

Exports by Country

Haiti (X units) was the main destination for grinding machine exports from the Dominican Republic, accounting for a 93% share of total exports. Moreover, grinding machine exports to Haiti exceeded the volume sent to the second major destination, the United States (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Haiti amounted to -32.1%.

In value terms, Haiti ($X) remains the key foreign market for machines having individual functions, for mixing, kneading, crushing or grinding exports from the Dominican Republic, comprising 81% of total exports. The second position in the ranking was taken by the United States ($X), with a 2.8% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Haiti totaled -16.7%.

Export Prices by Country

In 2021, the average grinding machine export price amounted to $X per unit, declining by -6.6% against the previous year. Overall, the export price, however, continues to indicate a strong expansion. The pace of growth was the most pronounced in 2015 when the average export price increased by 873% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Haiti ($X per unit), while the average price for exports to the United States stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Haiti (+23.2%).

Grinding Machine Imports

Imports into the Dominican Republic

In 2021, supplies from abroad of machines having individual functions, for mixing, kneading, crushing or grinding was finally on the rise to reach X units after two years of decline. Overall, imports enjoyed a resilient expansion. Over the period under review, imports reached the maximum at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, grinding machine imports skyrocketed to $X in 2021. Over the period under review, imports posted a strong increase. The pace of growth appeared the most rapid in 2015 with an increase of 131%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of grinding machine to the Dominican Republic, with a 60% share of total imports. Moreover, grinding machine imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), fourfold. Italy (X units) ranked third in terms of total imports with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +30.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-5.3% per year) and Italy (+87.4% per year).

In value terms, the largest grinding machine suppliers to the Dominican Republic were China ($X), the United States ($X) and Germany ($X), together accounting for 67% of total imports. These countries were followed by Italy, Sweden, Spain and Guatemala, which together accounted for a further 23%.

Guatemala, with a CAGR of +206.8%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average grinding machine import price stood at $X per unit in 2021, which is down by -53.2% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 116% against the previous year. As a result, import price attained the peak level of $X per unit, and then fell significantly in the following year.

Prices varied noticeably country of origin: 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 (+21.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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