Dominican Republic: Metal Office Furniture Market 2024

Metal Office Furniture Market Size in the Dominican Republic

The Dominican metal office furniture market soared to $X in 2022, rising by 42% 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). In general, consumption, however, continues to indicate a deep setback. Metal office furniture consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Metal Office Furniture Exports

Exports from the Dominican Republic

In 2022, overseas shipments of metal office furniture increased by 55% to X tons, rising for the second consecutive year after two years of decline. Overall, exports, however, faced a deep setback. The pace of growth appeared the most rapid in 2016 with an increase of 582% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, metal office furniture exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2016 when exports increased by 349%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for metal office furniture exports from the Dominican Republic, with a 70% share of total exports. Moreover, metal office furniture exports to the United States exceeded the volume sent to the second major destination, Haiti (X kg), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at -7.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (-23.5% per year) and British Virgin Islands (0.0% per year).

In value terms, the United States ($X) remains the key foreign market for metal office furniture exports from the Dominican Republic, comprising 73% of total exports. The second position in the ranking was taken by Haiti ($X), with a 26% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at -5.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (-16.6% per year) and British Virgin Islands (0.0% per year).

Export Prices by Country

In 2022, the average metal office furniture export price amounted to $X per ton, jumping by 45% against the previous year. Over the period under review, the export price showed a buoyant increase. The most prominent rate of growth was recorded in 2014 an increase of 89% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Haiti ($X per ton), while the average price for exports to British Virgin Islands ($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 Antigua and Barbuda (+12,722.2%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Office Furniture Imports

Imports into the Dominican Republic

In 2022, the amount of metal office furniture imported into the Dominican Republic skyrocketed to X tons, jumping by 43% compared with the previous year's figure. Overall, imports, however, saw a deep slump. The pace of growth appeared the most rapid in 2019 with an increase of 103% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, metal office furniture imports surged to $X in 2022. In general, imports, however, continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2021 with an increase of 45%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of metal office furniture to the Dominican Republic, with a 72% share of total imports. Moreover, metal office furniture imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), fivefold. Canada (X tons) ranked third in terms of total imports with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-16.4% per year) and Canada (+15.0% per year).

In value terms, the largest metal office furniture suppliers to the Dominican Republic were China ($X), the United States ($X) and Canada ($X), with a combined 92% share of total imports.

Among the main suppliers, Canada, with a CAGR of +25.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average metal office furniture import price stood at $X per ton in 2022, stabilizing at the previous year. In general, the import price, however, enjoyed slight growth. The pace of growth was the most pronounced in 2016 when the average import price increased by 113% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 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 ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+11.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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