Dominican Republic: Sandstone Market 2024

Sandstone Market Size in the Dominican Republic

The Dominican sandstone market rose significantly to $X in 2022, increasing by 8.4% against the previous year. Over the period under review, consumption showed slight growth. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Sandstone Production in the Dominican Republic

In value terms, sandstone production expanded notably to $X in 2022 estimated in export price. In general, production continues to indicate measured growth. The pace of growth was the most pronounced in 2020 when the production volume increased by 45% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Sandstone Exports

Exports from the Dominican Republic

In 2022, overseas shipments of sandstone decreased by -9.5% to X tons for the first time since 2017, thus ending a four-year rising trend. Overall, total exports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +82.3% against 2017 indices. The pace of growth was the most pronounced in 2013 when exports increased by 32% against the previous year. The exports peaked at X tons in 2021, and then reduced in the following year.

In value terms, sandstone exports fell rapidly to $X in 2022. Over the period under review, exports, however, recorded a significant expansion. The growth pace was the most rapid in 2018 with an increase of 195%. Over the period under review, the exports hit record highs at $X in 2021, and then contracted significantly in the following year.

Exports by Country

The United States (X tons) was the main destination for sandstone exports from the Dominican Republic, accounting for a 98% share of total exports. It was followed by Jamaica (X kg), with a 2.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +86.2%.

In value terms, the United States ($X) remains the key foreign market for sandstone exports from the Dominican Republic, comprising 99% of total exports. The second position in the ranking was taken by Jamaica ($X), with a 0.3% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +60.7%.

Export Prices by Country

The average sandstone export price stood at $X per ton in 2022, dropping by -8.8% against the previous year. Overall, the export price, however, recorded a significant increase. The pace of growth appeared the most rapid in 2018 when the average export price increased by 163%. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then contracted in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-13.7%).

Sandstone Imports

Imports into the Dominican Republic

In 2022, purchases abroad of sandstone increased by 41% to X tons, rising for the seventh consecutive year after three years of decline. Overall, imports posted a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 160% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, sandstone imports skyrocketed to $X in 2022. In general, imports posted significant growth. The most prominent rate of growth was recorded in 2016 when imports increased by 158%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

Spain (X tons), China (X tons) and India (X tons) were the main suppliers of sandstone imports to the Dominican Republic, with a combined 97% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +188.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Spain ($X) and the United States ($X) were the largest sandstone suppliers to the Dominican Republic, together accounting for 95% of total imports.

Spain, with a CAGR of +165.7%, recorded the highest growth rate of the value of imports, in terms of 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 sandstone import price amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the last decade, it increased at an average annual rate of +3.2%. The pace of growth appeared the most rapid in 2014 an increase of 41%. As a result, import price reached the peak level of $X per ton. From 2015 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 the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+23.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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