Dominican Republic: Mannequin Market 2024

Mannequin Market Size in the Dominican Republic

In 2022, after three years of growth, there was significant decline in the Dominican mannequin market, when its value decreased by -32.5% to $X. Overall, consumption continues to indicate a deep setback. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Mannequin Production in the Dominican Republic

In value terms, mannequin production contracted to $X in 2022 estimated in export price. Overall, production, however, saw a tangible increase. The pace of growth was the most pronounced in 2013 when the production volume increased by 212% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Mannequin Exports

Exports from the Dominican Republic

In 2022, overseas shipments of mannequins decreased by -7.7% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, posted a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 1,744%. The exports peaked at X tons in 2021, and then dropped in the following year.

In value terms, mannequin exports stood at $X in 2022. Overall, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 1,427%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The United States (X tons) was the main destination for mannequin exports from the Dominican Republic, accounting for a 83% share of total exports. Moreover, mannequin exports to the United States exceeded the volume sent to the second major destination, Haiti (X tons), eightfold.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +30.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (+64.6% per year) and Venezuela (+2,730.2% per year).

In value terms, the United States ($X) remains the key foreign market for mannequins exports from the Dominican Republic, comprising 97% of total exports. The second position in the ranking was taken by Haiti ($X), with a 0.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +32.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (+54.7% per year) and Venezuela (+512.4% per year).

Export Prices by Country

The average mannequin export price stood at $X per ton in 2022, picking up by 10% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 144%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+1.5%), while the prices for the other major destinations experienced a decline.

Mannequin Imports

Imports into the Dominican Republic

In 2022, overseas purchases of mannequins decreased by -57.5% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports showed a abrupt decline. The most prominent rate of growth was recorded in 2019 when imports increased by 203%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, mannequin imports contracted sharply to $X in 2022. In general, imports saw a abrupt descent. The pace of growth was the most pronounced in 2019 when imports increased by 308%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), the United States (X tons) and Spain (X tons) were the main suppliers of mannequin imports to the Dominican Republic, together accounting for 90% of total imports. Vietnam, Hong Kong SAR, Germany and Italy lagged somewhat behind, together accounting for a further 5.3%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +3,100.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest mannequin suppliers to the Dominican Republic were the United States ($X), China ($X) and Spain ($X), with a combined 87% share of total imports. Germany, Vietnam, Hong Kong SAR and Italy lagged somewhat behind, together accounting for a further 3.7%.

Among the main suppliers, Vietnam, with a CAGR of +708.6%, recorded the highest growth rate of 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

The average mannequin import price stood at $X per ton in 2022, reducing by -22% against the previous year. In general, the import price continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2021 when the average import price increased by 40% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+11.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :