Dominican Republic: Market for Petroleum Lubricating Oil And Grease 2024

Market Size for Petroleum Lubricating Oil And Grease in the Dominican Republic

The Dominican market for petroleum lubricating oil and grease rose modestly to $X in 2022, surging by X% against the previous year. Over the period under review, consumption continues to indicate resilient 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.

Production of Petroleum Lubricating Oil And Grease in the Dominican Republic

In value terms, petroleum lubricating oil and grease production rose to $X in 2022 estimated in export price. In general, production posted strong growth. The growth pace was the most rapid in 2017 when the production volume increased by X%. Petroleum lubricating oil and grease production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Petroleum Lubricating Oil And Grease

Exports from the Dominican Republic

In 2022, overseas shipments of petroleum lubricating oil and grease decreased by X% to X kg, falling for the third year in a row after two years of growth. In general, exports saw a sharp decline. The growth pace was the most rapid in 2018 when exports increased by X%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, petroleum lubricating oil and grease exports dropped dramatically to $X in 2022. Over the period under review, exports showed a precipitous setback. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Haiti (X kg) was the main destination for petroleum lubricating oil and grease exports from the Dominican Republic, with a approx. X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Haiti stood at X%.

In value terms, Haiti ($X) emerged as the key foreign market for petroleum lubricating oil and grease exports from the Dominican Republic.

From 2012 to 2022, the average annual growth rate of value to Haiti amounted to X%.

Export Prices by Country

In 2022, the average export price for petroleum lubricating oil and grease amounted to $X per ton, dropping by X% against the previous year. In general, the export price saw a noticeable contraction. The growth pace was the most rapid in 2019 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Haiti.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to X% per year.

Imports of Petroleum Lubricating Oil And Grease

Imports into the Dominican Republic

In 2022, the amount of petroleum lubricating oil and grease imported into the Dominican Republic surged to X tons, with an increase of X% on the previous year. In general, imports, however, recorded a noticeable decline. The pace of growth was the most pronounced in 2021 with an increase of X%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, petroleum lubricating oil and grease imports surged to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United States (X tons), Canada (X tons) and Germany (X tons) were the main suppliers of petroleum lubricating oil and grease imports to the Dominican Republic, with a combined X% share of total imports.

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

In value terms, the United States ($X) constituted the largest supplier of petroleum lubricating oil and grease to the Dominican Republic, comprising X% of total imports. The second position in the ranking was taken by Canada ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

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

Import Prices by Country

The average import price for petroleum lubricating oil and grease stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the import price saw temperate growth. The pace of growth was the most pronounced in 2018 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average 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 the United States ($X per ton), while the price for Mexico ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :