Dominican Republic: Prefabricated Buildings Market 2024

Prefabricated Buildings Market Size in the Dominican Republic

In 2022, the Dominican prefabricated buildings market increased by 201% to $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption posted a remarkable increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Prefabricated Buildings Exports

Exports from the Dominican Republic

In 2022, shipments abroad of prefabricated buildings increased by 23% to X units, rising for the second consecutive year after three years of decline. Over the period under review, exports, however, continue to indicate a precipitous shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 898% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, prefabricated buildings exports surged to $X in 2022. In general, exports, however, showed a dramatic shrinkage. The growth pace was the most rapid in 2021 with an increase of 650% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for prefabricated buildings exports from the Dominican Republic, accounting for a 73% share of total exports. Moreover, prefabricated buildings exports to the United States exceeded the volume sent to the second major destination, Bahamas (X units), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +50.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahamas (0.0% per year) and Cuba (+1,278.4% per year).

In value terms, the United States ($X), Bahamas ($X) and Cuba ($X) constituted the largest markets for prefabricated buildings exported from the Dominican Republic worldwide, with a combined 100% share of total exports.

Cuba, with a CAGR of +384.0%, saw the highest growth rate of the value of exports, in terms of 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

In 2022, the average prefabricated buildings export price amounted to $X per unit, rising by 59% against the previous year. Over the period under review, the export price posted a strong increase. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cuba ($X per unit), while the average price for exports to the United States ($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 (+6.2%), while the prices for the other major destinations experienced mixed trend patterns.

Prefabricated Buildings Imports

Imports into the Dominican Republic

In 2022, purchases abroad of prefabricated buildings increased by 173% to X units for the first time since 2018, thus ending a three-year declining trend. Over the period under review, imports posted moderate growth. Over the period under review, imports attained the maximum at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, prefabricated buildings imports soared to $X in 2022. Overall, imports continue to indicate a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Spain (X units), Israel (X units) and the United States (X units) were the main suppliers of prefabricated buildings imports to the Dominican Republic, with a combined 59% share of total imports. China, Italy, Turkey and Mexico lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +28.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest prefabricated buildings suppliers to the Dominican Republic were the United States ($X), Italy ($X) and Spain ($X), together accounting for 56% of total imports.

Italy, with a CAGR of +39.7%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average prefabricated buildings import price amounted to $X per unit, picking up by 13% against the previous year. Overall, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, prefabricated buildings import price decreased by -5.3% against 2020 indices. The pace of growth was the most pronounced in 2020 an increase of 39%. As a result, import price reached the peak level of $X per unit. From 2021 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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