Dominican Republic: Outboard Boat Motors Market 2024

Outboard Boat Motors Market Size in the Dominican Republic

The Dominican outboard boat motors market was finally on the rise to reach $X in 2022, after two years of decline. In general, consumption showed a resilient expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Outboard Boat Motors Exports

Exports from the Dominican Republic

In 2022, overseas shipments of outboard motors for marine propulsion increased by X% to X units for the first time since 2019, thus ending a two-year declining trend. Overall, exports showed noticeable growth. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, outboard boat motors exports soared to $X in 2022. Over the period under review, exports recorded modest growth. The growth pace was the most rapid in 2019 when exports increased by X%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Haiti (X units), Turks and Caicos Islands (X units) and Panama (X units) were the main destinations of outboard boat motors exports from the Dominican Republic, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turks and Caicos Islands (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for outboard boat motors exported from the Dominican Republic were Turks and Caicos Islands ($X), Haiti ($X) and Panama ($X), with a combined X% share of total exports.

In terms of the main countries of destination, Turks and Caicos Islands, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average outboard boat motors export price amounted to $X per unit, falling by X% against the previous year. Overall, the export price saw a perceptible decrease. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Panama ($X per unit), while the average price for exports to Nicaragua ($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 Panama (X%), while the prices for the other major destinations experienced a decline.

Outboard Boat Motors Imports

Imports into the Dominican Republic

In 2022, the amount of outboard motors for marine propulsion imported into the Dominican Republic skyrocketed to X units, picking up by X% compared with 2021 figures. In general, imports posted a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, outboard boat motors imports skyrocketed to $X in 2022. Overall, imports showed a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Japan (X units) constituted the largest supplier of outboard boat motors to the Dominican Republic, accounting for a X% share of total imports. Moreover, outboard boat motors imports from Japan exceeded the figures recorded by the second-largest supplier, China (X units), threefold. The third position in this ranking was held by the United States (X units), with a X% share.

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

In value terms, Japan ($X) constituted the largest supplier of outboard motors for marine propulsion to the Dominican Republic, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Japan stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and China (X% per year).

Import Prices by Country

The average outboard boat motors import price stood at $X per unit in 2022, picking up by X% against the previous year. In general, import price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, outboard boat motors import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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