Dominican Republic: Salt Market 2024

Salt Market Size in the Dominican Republic

In 2022, the Dominican salt market increased by 56% to $X, rising for the fifth year in a row after three years of decline. Over the period under review, the total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +110.6% against 2017 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Salt Production in the Dominican Republic

In value terms, salt production totaled $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 9.9%. Salt production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Salt Exports

Exports from the Dominican Republic

In 2022, overseas shipments of salt and pure sodium chloride were finally on the rise to reach X tons after two years of decline. In general, exports continue to indicate a buoyant expansion. The growth pace was the most rapid in 2016 when exports increased by 199% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, salt exports soared to $X in 2022. Overall, exports saw a resilient increase. The most prominent rate of growth was recorded in 2017 when exports increased by 83%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Haiti (X tons), Colombia (X tons) and the United States (X tons) were the main destinations of salt exports from the Dominican Republic, together accounting for 74% of total exports. Suriname, Guyana, Panama and Jamaica lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Suriname (with a CAGR of +327.8%), while the other leaders experienced more modest paces of growth.

In value terms, Haiti ($X) remains the key foreign market for salt and pure sodium chloride exports from the Dominican Republic, comprising 36% of total exports. The second position in the ranking was taken by Colombia ($X), with a 16% share of total exports. It was followed by Suriname, with a 16% share.

From 2012 to 2022, the average annual growth rate of value to Haiti stood at +3.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+92.5% per year) and Suriname (+215.6% per year).

Export Prices by Country

In 2022, the average salt export price amounted to $X per ton, growing by 17% against the previous year. Overall, export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, salt export price decreased by -1.9% against 2020 indices. The growth pace was the most rapid in 2018 when the average export price increased by 48% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Suriname ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guyana (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Salt Imports

Imports into the Dominican Republic

Salt imports into the Dominican Republic skyrocketed to X tons in 2022, picking up by 113% against the previous year's figure. Overall, imports posted a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, salt imports skyrocketed to $X in 2022. In general, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +9.3% 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 +46.6% 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, the United States (X tons) was the main supplier of salt to the Dominican Republic, accounting for a 97% share of total imports. It was followed by Mexico (X tons), with a 0.8% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at +43.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-4.2% per year) and Colombia (-4.2% per year).

In value terms, the United States ($X) constituted the largest supplier of salt and pure sodium chloride to the Dominican Republic, comprising 79% of total imports. The second position in the ranking was held by Colombia ($X), with a 5.6% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States totaled +16.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+1.3% per year) and Mexico (-0.1% per year).

Import Prices by Country

The average salt import price stood at $X per ton in 2022, with a decrease of -34.4% against the previous year. In general, the import price continues to indicate a deep slump. The pace of growth was the most pronounced in 2018 when the average import price increased by 7.4%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a 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 Colombia ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :