Dominican Republic: Men Swimwear Market 2024

Men Swimwear Market Size in the Dominican Republic

The Dominican men swimwear market skyrocketed to $X in 2021, increasing by 46% against the previous year. Overall, consumption continues to indicate a strong expansion. Over the period under review, the market attained the peak level in 2021 and is likely to continue growth in the immediate term.

Men Swimwear Production in the Dominican Republic

In value terms, men swimwear production soared to $X in 2021 estimated in export price. In general, production recorded resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of 97%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Men Swimwear Exports

Exports from the Dominican Republic

In 2021, overseas shipments of men’s swimwear (excluding of knitted or crocheted textiles) increased by 70% to X units, rising for the fifth consecutive year after two years of decline. Over the period under review, exports posted a resilient expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 652% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, men swimwear exports soared to $X in 2021. In general, exports posted a strong increase. The most prominent rate of growth was recorded in 2014 when exports increased by 752% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for men swimwear exports from the Dominican Republic, accounting for a 85% share of total exports. Moreover, men swimwear exports to the United States exceeded the volume sent to the second major destination, Italy (X units), more than tenfold. The third position in this ranking was held by France (X units), with a 4.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +25.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (0.0% per year) and France (+13.7% per year).

In value terms, the United States ($X) remains the key foreign market for men’s swimwear (excluding of knitted or crocheted textiles) exports from the Dominican Republic, comprising 62% of total exports. The second position in the ranking was held by Italy ($X), with a 20% share of total exports. It was followed by Spain, with a 7.9% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +15.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (0.0% per year) and Spain (-4.2% per year).

Export Prices by Country

In 2021, the average men swimwear export price amounted to $X per unit, shrinking by -11.9% against the previous year. In general, the export price saw a pronounced reduction. The growth pace was the most rapid in 2013 when the average export price increased by 67%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Canada ($X per unit), while the average price for exports to the United States ($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 Mexico (+21.9%), while the prices for the other major destinations experienced mixed trend patterns.

Men Swimwear Imports

Imports into the Dominican Republic

In 2021, supplies from abroad of men’s swimwear (excluding of knitted or crocheted textiles) was finally on the rise to reach X units after three years of decline. Over the period under review, imports continue to indicate buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, men swimwear imports soared to $X in 2021. Overall, imports recorded a pronounced increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of men swimwear to the Dominican Republic, accounting for a 86% share of total imports. Moreover, men swimwear imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. The third position in this ranking was taken by Canada (X units), with a 2.4% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +23.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-9.8% per year) and Canada (+3.7% per year).

In value terms, China ($X) constituted the largest supplier of men’s swimwear (excluding of knitted or crocheted textiles) to the Dominican Republic, comprising 53% of total imports. The second position in the ranking was held by the United States ($X), with a 7.1% share of total imports. It was followed by Panama, with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-11.5% per year) and Panama (+58.8% per year).

Import Prices by Country

In 2021, the average men swimwear import price amounted to $X per unit, with a decrease of -47.6% against the previous year. Over the period under review, the import price continues to indicate a abrupt setback. The pace of growth appeared the most rapid in 2018 an increase of 62%. As a result, import price reached the peak level of $X per unit. From 2019 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bulgaria (+32.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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