Dominican Republic: Screwdriver Market 2024

Screwdriver Market Size in the Dominican Republic

In 2021, the Dominican screwdriver market increased by 24% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in the near future.

Screwdriver Exports

Exports from the Dominican Republic

After five years of growth, shipments abroad of screwdrivers decreased by -99.6% to X kg in 2021. In general, exports recorded a precipitous curtailment. The pace of growth appeared the most rapid in 2018 with an increase of 1,360%. Over the period under review, the exports hit record highs at X tons in 2020, and then reduced markedly in the following year.

In value terms, screwdriver exports reduced dramatically to $X in 2021. Over the period under review, exports continue to indicate a pronounced reduction. The growth pace was the most rapid in 2017 with an increase of 492% against the previous year. The exports peaked at $X in 2020, and then contracted remarkably in the following year.

Exports by Country

Saint Kitts and Nevis (X kg), the United States (X kg) and Panama (X kg) were the main destinations of screwdriver exports from the Dominican Republic, together comprising 92% of total exports.

From 2012 to 2021, the biggest increases were recorded for Saint Kitts and Nevis (with a CAGR of +19.6%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) emerged as the key foreign market for screwdrivers exports from the Dominican Republic, comprising 87% of total exports. The second position in the ranking was held by Panama ($X), with a 7.5% share of total exports. It was followed by Saint Kitts and Nevis, with a 0.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +49.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (-26.5% per year) and Saint Kitts and Nevis (0.0% per year).

Export Prices by Country

The average screwdriver export price stood at $X per ton in 2021, with an increase of 385% against the previous year. In general, the export price enjoyed a significant expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Saint Kitts and Nevis ($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 the United States (+18.5%), while the prices for the other major destinations experienced mixed trend patterns.

Screwdriver Imports

Imports into the Dominican Republic

For the fifth consecutive year, the Dominican Republic recorded growth in purchases abroad of screwdrivers, which increased by 24% to X tons in 2021. Over the period under review, total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +89.7% against 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of 28%. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in years to come.

In value terms, screwdriver imports surged to $X in 2021. The total import value increased at an average annual rate of +1.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 34%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of screwdriver to the Dominican Republic, with a 74% share of total imports. Moreover, screwdriver imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X tons), fourfold. The third position in this ranking was held by the United States (X tons), with a 2.2% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +13.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+3.7% per year) and the United States (-19.1% per year).

In value terms, China ($X) constituted the largest supplier of screwdrivers to the Dominican Republic, comprising 52% of total imports. The second position in the ranking was taken by Mexico ($X), with a 24% share of total imports. It was followed by the United States, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+2.2% per year) and the United States (-4.8% per year).

Import Prices by Country

In 2021, the average screwdriver import price amounted to $X per ton, waning by -3.4% against the previous year. Overall, the import price showed a pronounced slump. The pace of growth appeared the most rapid in 2014 an increase of 8.5% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

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 ($X per ton), while the price for China ($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 (+17.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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