Dominican Republic: Plastic Furniture Fittings Market 2024

Plastic Furniture Fittings Market Size in the Dominican Republic

The Dominican plastic furniture fittings market declined significantly to $X in 2021, which is down by -32.3% 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). Overall, consumption, however, showed a significant expansion. As a result, consumption attained the peak level of $X, and then contracted dramatically in the following year.

Plastic Furniture Fittings Exports

Exports from the Dominican Republic

In 2021, plastic furniture fittings exports from the Dominican Republic shrank sharply to X tons, which is down by -82.2% on the previous year's figure. Overall, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 1,241% against the previous year. As a result, the exports attained the peak of X tons, and then fell sharply in the following year.

In value terms, plastic furniture fittings exports contracted remarkably to $X in 2021. Over the period under review, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 1,347% against the previous year. As a result, the exports reached the peak of $X, and then fell notably in the following year.

Exports by Country

Mexico (X tons) was the main destination for plastic furniture fittings exports from the Dominican Republic, accounting for a 49% share of total exports. Moreover, plastic furniture fittings exports to Mexico exceeded the volume sent to the second major destination, Haiti (X kg), threefold. Guatemala (X kg) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to Mexico totaled +53.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (+24.9% per year) and Guatemala (+89.2% per year).

In value terms, Mexico ($X) remains the key foreign market for plastic fittings for furniture exports from the Dominican Republic, comprising 72% of total exports. The second position in the ranking was held by Haiti ($X), with a 9.5% share of total exports. It was followed by Guatemala, with a 7.5% share.

From 2012 to 2021, the average annual growth rate of value to Mexico amounted to +62.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (+19.0% per year) and Guatemala (+69.5% per year).

Export Prices by Country

The average plastic furniture fittings export price stood at $X per ton in 2021, with an increase of 30% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 48% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+5.4%), while the prices for the other major destinations experienced a decline.

Plastic Furniture Fittings Imports

Imports into the Dominican Republic

In 2021, the amount of plastic fittings for furniture imported into the Dominican Republic dropped sharply to X tons, which is down by -35.7% compared with the previous year's figure. Over the period under review, imports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2020 when imports increased by 689%. As a result, imports attained the peak of X tons, and then contracted markedly in the following year.

In value terms, plastic furniture fittings imports dropped remarkably to $X in 2021. In general, imports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 706% against the previous year. As a result, imports reached the peak of $X, and then plummeted in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of plastic furniture fittings to the Dominican Republic, accounting for a 45% share of total imports. Moreover, plastic furniture fittings imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), sixfold. The third position in this ranking was held by the United States (X tons), with a 6.5% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +39.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+83.0% per year) and the United States (+0.0% per year).

In value terms, China ($X) constituted the largest supplier of plastic fittings for furniture to the Dominican Republic, comprising 32% of total imports. The second position in the ranking was taken by the United States ($X), with an 11% share of total imports. It was followed by Turkey, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +22.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-4.1% per year) and Turkey (+70.2% per year).

Import Prices by Country

In 2021, the average plastic furniture fittings import price amounted to $X per ton, surging by 11% against the previous year. Over the period under review, the import price, however, recorded a deep setback. The growth pace was the most rapid in 2015 an increase of 37%. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (-4.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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