Dominican Republic: Microphone Market 2024

Microphone Market Size in the Dominican Republic

The Dominican microphone market surged to $X in 2022, with an increase of 55% 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). Overall, consumption posted buoyant growth. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the near future.

Microphone Exports

Exports from the Dominican Republic

Microphone exports from the Dominican Republic shrank remarkably to X units in 2022, reducing by -34.3% compared with 2021. Over the period under review, exports, however, showed strong growth. The pace of growth was the most pronounced in 2013 with an increase of 2,136%. As a result, the exports attained the peak of X units. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, microphone exports fell rapidly to $X in 2022. Overall, exports, however, showed a prominent increase. The pace of growth was the most pronounced in 2017 when exports increased by 1,633%. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for microphone exports from the Dominican Republic, accounting for a 72% share of total exports. Moreover, microphone exports to the United States exceeded the volume sent to the second major destination, the Netherlands (X units), fourfold. The third position in this ranking was held by France (X units), with a 7.4% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +34.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (0.0% per year) and France (-28.8% per year).

In value terms, the United States ($X) remains the key foreign market for microphones and their stands exports from the Dominican Republic, comprising 86% of total exports. The second position in the ranking was held by the Netherlands ($X), with an 8.8% share of total exports. It was followed by France, with a 2.4% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +41.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (0.0% per year) and France (-31.8% per year).

Export Prices by Country

In 2022, the average microphone export price amounted to $X per unit, waning by -39% against the previous year. Overall, the export price recorded a deep downturn. The most prominent rate of growth was recorded in 2017 when the average export price increased by 1,517%. As a result, the export price reached the peak level of $X per unit. From 2018 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to France ($X per unit) 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 (+5.4%), while the prices for the other major destinations experienced a decline.

Microphone Imports

Imports into the Dominican Republic

In 2022, microphone imports into the Dominican Republic soared to X units, jumping by 60% on 2021 figures. In general, imports saw a significant expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 99% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, microphone imports soared to $X in 2022. Over the period under review, imports posted resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest microphone supplier to the Dominican Republic, accounting for a 86% share of total imports. Moreover, microphone imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), eightfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +35.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+20.6% per year) and Germany (+150.5% per year).

In value terms, China ($X) constituted the largest supplier of microphones and their stands to the Dominican Republic, comprising 76% of total imports. The second position in the ranking was held by the United States ($X), with a 13% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled +11.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+1.6% per year) and Germany (+124.3% per year).

Import Prices by Country

The average microphone import price stood at $X per unit in 2022, which is down by -12.8% against the previous year. Overall, the import price continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2020 when the average import price increased by 10% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (-10.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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