Dominican Republic: Wooden Furniture Treatments Market 2024

Wooden Furniture Treatments Market Size in the Dominican Republic

The Dominican wooden furniture treatments market surged to $X in 2022, picking up by 94% 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 enjoyed a resilient increase. Over the period under review, the market reached the peak level in 2022 and is likely to see steady growth in the immediate term.

Wooden Furniture Treatments Exports

Exports from the Dominican Republic

In 2022, overseas shipments of polishes and creams for wooden furniture and floors decreased by -99.8% to X kg for the first time since 2018, thus ending a three-year rising trend. In general, exports faced a precipitous contraction. The pace of growth was the most pronounced in 2015 with an increase of 1,149% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, wooden furniture treatments exports declined significantly to $X in 2022. Over the period under review, exports showed a dramatic decline. The most prominent rate of growth was recorded in 2015 when exports increased by 1,133% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Turks and Caicos Islands (X kg) was the main destination for wooden furniture treatments exports from the Dominican Republic, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Turks and Caicos Islands stood at -14.3%.

In value terms, Turks and Caicos Islands ($X) emerged as the key foreign market for polishes and creams for wooden furniture and floors exports from the Dominican Republic.

From 2012 to 2022, the average annual growth rate of value to Turks and Caicos Islands stood at -2.1%.

Export Prices by Country

The average wooden furniture treatments export price stood at $X per ton in 2022, surging by 148% against the previous year. In general, the export price saw a buoyant expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Turks and Caicos Islands.

From 2012 to 2022, the rate of growth in terms of prices for Turks and Caicos Islands amounted to +14.3% per year.

Wooden Furniture Treatments Imports

Imports into the Dominican Republic

In 2022, purchases abroad of polishes and creams for wooden furniture and floors increased by 55% to X tons, rising for the fourth year in a row after five years of decline. Overall, total imports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +103.8% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, wooden furniture treatments imports surged to $X in 2022. In general, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +110.6% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Spain (X tons) constituted the largest wooden furniture treatments supplier to the Dominican Republic, with a 50% share of total imports. Moreover, wooden furniture treatments imports from Spain exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. Chile (X tons) ranked third in terms of total imports with a 19% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain totaled +16.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-7.5% per year) and Chile (+9.4% per year).

In value terms, the United States ($X), Spain ($X) and Colombia ($X) were the largest wooden furniture treatments suppliers to the Dominican Republic, with a combined 86% share of total imports.

Among the main suppliers, Spain, with a CAGR of +13.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wooden furniture treatments import price stood at $X per ton in 2022, rising by 15% against the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2016 when the average import price increased by 33% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2017; however, from 2018 to 2022, 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 ($X per ton), while the price for Spain ($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 (+9.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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