Dominican Republic: Bed-Convertible Seat Market 2024

Bed-Convertible Seat Market Size in the Dominican Republic

After three years of decline, the Dominican bed-convertible seat market increased by 7.3% to $X in 2021. In general, consumption, however, recorded strong growth. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Bed-Convertible Seat Exports

Exports from the Dominican Republic

Bed-convertible seat exports from the Dominican Republic surged to X units in 2021, jumping by 320% against 2020 figures. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by 353%. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, bed-convertible seat exports skyrocketed to $X in 2021. Overall, exports posted notable growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for bed-convertible seat exports from the Dominican Republic, accounting for a 53% share of total exports. Moreover, bed-convertible seat exports to the United States exceeded the volume sent to the second major destination, Germany (X units), threefold. Brazil (X units) ranked third in terms of total exports with a 5.2% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +12.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+9.7% per year) and Brazil (+570.8% per year).

In value terms, the United States ($X) emerged as the key foreign market for seats convertible into beds exports from the Dominican Republic, comprising 17% of total exports. The second position in the ranking was held by Germany ($X), with an 8.1% share of total exports. It was followed by France, with a 5.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+3.1% per year) and France (+67.0% per year).

Export Prices by Country

In 2021, the average bed-convertible seat export price amounted to $X per unit, with an increase of 30% against the previous year. Over the period under review, export price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, bed-convertible seat export price decreased by -16.4% against 2019 indices. The most prominent rate of growth was recorded in 2019 an increase of 46% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2020 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was France ($X per unit), while the average price for exports to Brazil ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+213.4%), while the prices for the other major destinations experienced more modest paces of growth.

Bed-Convertible Seat Imports

Imports into the Dominican Republic

In 2021, purchases abroad of seats convertible into beds decreased by -10.5% to X units, falling for the fourth year in a row after six years of growth. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 85% against the previous year. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, bed-convertible seat imports surged to $X in 2021. Overall, imports, however, recorded a resilient increase. Imports peaked at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

Spain (X units), China (X units) and the United States (X units) were the main suppliers of bed-convertible seat imports to the Dominican Republic, together accounting for 81% of total imports. These countries were followed by Colombia, Sweden and Indonesia, which together accounted for a further 6.8%.

From 2012 to 2021, the biggest increases were recorded for Colombia (with a CAGR of +57.6%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest bed-convertible seat suppliers to the Dominican Republic were China ($X), Spain ($X) and Colombia ($X), together comprising 60% of total imports.

In terms of the main suppliers, Colombia, with a CAGR of +102.0%, 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

In 2021, the average bed-convertible seat import price amounted to $X per unit, growing by 283% against the previous year. Overall, the import price showed a resilient expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Indonesia ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+35.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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