Dominican Republic: Natural Stone Sett Market 2024

Natural Stone Sett Market Size in the Dominican Republic

The Dominican natural stone sett market reduced slightly to $X in 2022, which is down by -1.9% against the previous year. Overall, consumption, however, recorded a resilient increase. Natural stone sett consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Natural Stone Sett Production in the Dominican Republic

In value terms, natural stone sett production shrank slightly to $X in 2022 estimated in export price. In general, production, however, saw a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of 64% against the previous year. Natural stone sett production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Natural Stone Sett Exports

Exports from the Dominican Republic

In 2022, overseas shipments of natural stone setts, kerbstones and flagstones increased by 31% to X tons, rising for the second year in a row after three years of decline. Overall, total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +86.0% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 65% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, natural stone sett exports surged to $X in 2022. In general, total exports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +73.2% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 69%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for natural stone sett exports from the Dominican Republic, accounting for a 69% share of total exports. Moreover, natural stone sett exports to the United States exceeded the volume sent to the second major destination, British Virgin Islands (X tons), more than tenfold. Costa Rica (X tons) ranked third in terms of total exports with a 4.8% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: British Virgin Islands (+37.3% per year) and Costa Rica (+10.3% per year).

In value terms, the United States ($X) remains the key foreign market for natural stone setts, kerbstones and flagstones exports from the Dominican Republic, comprising 66% of total exports. The second position in the ranking was held by Barbados ($X), with a 4.8% share of total exports. It was followed by Antigua and Barbuda, with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +5.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Barbados (+12.5% per year) and Antigua and Barbuda (+24.4% per year).

Export Prices by Country

The average natural stone sett export price stood at $X per ton in 2022, with a decrease of -4.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The pace of growth appeared the most rapid in 2018 an increase of 12% 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 failed to regain momentum.

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 Barbados ($X per ton), while the average price for exports to Costa Rica ($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 (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Natural Stone Sett Imports

Imports into the Dominican Republic

In 2022, natural stone sett imports into the Dominican Republic surged to X tons, picking up by 571% against the previous year's figure. Overall, imports, however, showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2019 when imports increased by 1,134% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, natural stone sett imports soared to $X in 2022. Over the period under review, imports showed a remarkable increase. The pace of growth appeared the most rapid in 2015 with an increase of 1,070%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Argentina (X tons), Indonesia (X tons) and Spain (X tons) were the main suppliers of natural stone sett imports to the Dominican Republic, with a combined 91% share of total imports. The United States and China lagged somewhat behind, together accounting for a further 8.5%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +68.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest natural stone sett suppliers to the Dominican Republic were Indonesia ($X), Argentina ($X) and Spain ($X), together accounting for 92% of total imports. The United States and China lagged somewhat behind, together comprising a further 8.1%.

The United States, with a CAGR of +105.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average natural stone sett import price amounted to $X per ton, dropping by -13.5% against the previous year. Overall, the import price, however, recorded buoyant growth. The pace of growth appeared the most rapid in 2016 when the average import price increased by 144%. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then fell in the following year.

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 Spain ($X per ton), while the price for China ($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 (+21.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :