Dominican Republic: Pedestrian-Controlled Tractor Market 2024

Pedestrian-Controlled Tractor Market Size in the Dominican Republic

The Dominican pedestrian-controlled tractor market amounted to $X in 2022, remaining relatively unchanged against the previous year. Over the period under review, consumption continues to indicate strong growth. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Pedestrian-Controlled Tractor Production in the Dominican Republic

In value terms, pedestrian-controlled tractor production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production enjoyed resilient growth. The growth pace was the most rapid in 2019 when the production volume increased by 123%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Pedestrian-Controlled Tractor Exports

Exports from the Dominican Republic

In 2022, overseas shipments of pedestrian-controlled tractors increased by 123% to X units, rising for the second consecutive year after four years of decline. Overall, exports saw a pronounced increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, pedestrian-controlled tractor exports soared to $X in 2022. In general, total exports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.9% 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 +126.7% against 2015 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Ecuador (X units), Colombia (X units) and Panama (X units) were the main destinations of pedestrian-controlled tractor exports from the Dominican Republic.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ecuador (with a CAGR of 0.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for pedestrian-controlled tractor exported from the Dominican Republic were Ecuador ($X), Panama ($X) and Colombia ($X).

Ecuador, with a CAGR of 0.0%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average pedestrian-controlled tractor export price stood at $X per unit in 2022, reducing by -44.8% against the previous year. Overall, the export price, however, recorded a modest expansion. The most prominent rate of growth was recorded in 2019 when the average export price increased by 32% against the previous year. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Panama ($X per unit), while the average price for exports to Ecuador ($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 Haiti (+9.0%).

Pedestrian-Controlled Tractor Imports

Imports into the Dominican Republic

In 2022, the amount of pedestrian-controlled tractors imported into the Dominican Republic soared to X units, picking up by 71% on the previous year's figure. In general, imports, however, saw a deep setback. The pace of growth appeared the most rapid in 2020 with an increase of 173%. Over the period under review, imports hit record highs at X units in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, pedestrian-controlled tractor imports soared to $X in 2022. Over the period under review, imports, however, recorded a drastic downturn. The pace of growth appeared the most rapid in 2017 with an increase of 218%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Indonesia (X units) constituted the largest supplier of pedestrian-controlled tractor to the Dominican Republic, accounting for a 79% share of total imports. Moreover, pedestrian-controlled tractor imports from Indonesia exceeded the figures recorded by the second-largest supplier, China (X units), sixfold.

From 2012 to 2022, the average annual growth rate of volume from Indonesia totaled -11.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-16.9% per year) and Japan (-20.2% per year).

In value terms, Indonesia ($X) constituted the largest supplier of pedestrian-controlled tractors to the Dominican Republic, comprising 85% of total imports. The second position in the ranking was held by China ($X), with a 13% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Indonesia amounted to -8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-14.7% per year) and Japan (-27.7% per year).

Import Prices by Country

The average pedestrian-controlled tractor import price stood at $X per unit in 2022, rising by 65% against the previous year. In general, import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, pedestrian-controlled tractor import price increased by +81.6% against 2020 indices. As a result, import price reached the peak level and is likely to continue 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 China ($X per unit), while the price for Japan ($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 (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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