Dominican Republic: Silver Market 2025

Silver Market Size in the Dominican Republic

The Dominican silver market dropped modestly to $X in 2021, which is down by -2.2% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Silver Production in the Dominican Republic

In value terms, silver production contracted modestly to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 20%. Silver production peaked at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Silver Exports

Exports from the Dominican Republic

For the third consecutive year, the Dominican Republic recorded decline in overseas shipments of silver including silver plated with gold or platinum, which decreased by -7.4% to X tons in 2021. In general, exports, however, saw significant growth. The growth pace was the most rapid in 2018 when exports increased by 2,843%. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, silver exports dropped to $X in 2021. Over the period under review, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 3,609%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Canada (X tons) was the main destination for silver exports from the Dominican Republic, accounting for a 95% share of total exports. Moreover, silver exports to Canada exceeded the volume sent to the second major destination, the United States (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Canada totaled +37.9%.

In value terms, Canada ($X) remains the key foreign market for silver including silver plated with gold or platinum exports from the Dominican Republic, comprising 93% of total exports. The second position in the ranking was held by the United States ($X), with a 6.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Canada amounted to +33.3%.

Export Prices by Country

In 2021, the average silver export price amounted to $X per kg, stabilizing at the previous year. In general, the export price, however, showed a pronounced reduction. The pace of growth was the most pronounced in 2013 when the average export price increased by 91% against the previous year. The export price peaked at $X per kg in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per kg), while the average price for exports to Canada amounted to $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+2.3%), while the prices for the other major destinations experienced a decline.

Silver Imports

Imports into the Dominican Republic

In 2021, supplies from abroad of silver including silver plated with gold or platinum decreased by -12.9% to X tons, falling for the second year in a row after three years of growth. Over the period under review, imports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2014 when imports increased by 1,859% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, silver imports reached $X in 2021. In general, imports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2014 when imports increased by 2,121%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest silver supplier to the Dominican Republic, accounting for a 89% share of total imports. Moreover, silver imports from the United States exceeded the figures recorded by the second-largest supplier, Chile (X kg), more than tenfold. The third position in this ranking was held by China (X kg), with a 3.5% share.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at +22.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+59.8% per year) and China (+93.7% per year).

In value terms, the United States ($X) constituted the largest supplier of silver including silver plated with gold or platinum to the Dominican Republic, comprising 96% of total imports. The second position in the ranking was taken by Italy ($X), with a 2.6% share of total imports. It was followed by China, with a 0.4% share.

From 2012 to 2021, the average annual growth rate of value from the United States totaled +26.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+106.4% per year) and China (+94.6% per year).

Import Prices by Country

In 2021, the average silver import price amounted to $X per ton, rising by 26% against the previous year. Over the last nine years, it increased at an average annual rate of +2.9%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+25.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :