Dominican Republic: Market for Non-Numerically Controlled Sharpening Machines For Working Metal 2024

Market Size for Non-Numerically Controlled Sharpening Machines For Working Metal in the Dominican Republic

The Dominican non-numerically controlled sharpening machine market surged to $X in 2022, growing by 186% 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 recorded a significant increase. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Exports of Non-Numerically Controlled Sharpening Machines For Working Metal

Exports from the Dominican Republic

Non-numerically controlled sharpening machine exports from the Dominican Republic shrank sharply to less than X units in 2022, which is down by 99.9% against 2021. In general, exports, however, saw a significant increase. The pace of growth appeared the most rapid in 2020 when exports increased by 67% against the previous year. The exports peaked at X units in 2021, and then contracted notably in the following year.

In value terms, non-numerically controlled sharpening machine exports soared to $X in 2022. Over the period under review, exports saw a abrupt curtailment. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for non-numerically controlled sharpening machine exports from the Dominican Republic, with a 60% share of total exports. Moreover, non-numerically controlled sharpening machine exports to the United States exceeded the volume sent to the second major destination, Haiti (X units), threefold.

From 2019 to 2021, the average annual growth rate of volume to the United States totaled +22.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (0.0% per year) and Turks and Caicos Islands (0.0% per year).

In value terms, the United States ($X) remains the key foreign market for non-numerically controlled sharpening machines for working metal exports from the Dominican Republic, comprising 75% of total exports. The second position in the ranking was held by Haiti ($X), with a 23% share of total exports.

From 2019 to 2021, the average annual rate of growth in terms of value to the United States stood at -82.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (-86.2% per year) and Turks and Caicos Islands (0.0% per year).

Export Prices by Country

In 2021, the average non-numerically controlled sharpening machine export price amounted to $X per unit, declining by -93.1% against the previous year. Overall, the export price recorded a significant curtailment. The pace of growth appeared the most rapid in 2020 when the average export price decreased by -75.6% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Turks and Caicos Islands ($X per unit) was amongst the lowest.

From 2019 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-85.4%).

Imports of Non-Numerically Controlled Sharpening Machines For Working Metal

Imports into the Dominican Republic

Non-numerically controlled sharpening machine imports into the Dominican Republic skyrocketed to X units in 2022, jumping by 271% on the previous year's figure. In general, imports saw significant growth. The growth pace was the most rapid in 2019 when imports increased by 1,143% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, non-numerically controlled sharpening machine imports surged to $X in 2022. Over the period under review, imports posted a prominent increase. The most prominent rate of growth was recorded in 2019 when imports increased by 1,431%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Spain (X units) constituted the largest non-numerically controlled sharpening machine supplier to the Dominican Republic, with a 65% share of total imports. Moreover, non-numerically controlled sharpening machine imports from Spain exceeded the figures recorded by the second-largest supplier, China (X units), threefold. The third position in this ranking was held by Italy (X units), with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain amounted to +56.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+30.9% per year) and Italy (+27.1% per year).

In value terms, Italy ($X), Spain ($X) and China ($X) were the largest non-numerically controlled sharpening machine suppliers to the Dominican Republic, with a combined 85% share of total imports.

Spain, with a CAGR of +45.0%, recorded the highest rates of growth with regard to the value of imports, among 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 non-numerically controlled sharpening machine import price amounted to $X per unit, dropping by -64.5% against the previous year. Overall, the import price recorded a abrupt curtailment. The growth pace was the most rapid in 2020 an increase of 39% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Spain ($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 (+34.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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