Dominican Republic: Baking Soda Market 2024

Baking Soda Market Size in the Dominican Republic

In 2021, the Dominican baking soda market decreased by -7.9% to $X, falling for the second year in a row after three years of growth. Overall, the total consumption indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -17.1% against 2019 indices. Baking soda consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Baking Soda Exports

Exports from the Dominican Republic

In 2021, approx. X tons of baking soda were exported from the Dominican Republic; shrinking by -87.7% against 2020. Overall, exports saw a deep downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 1,818% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, baking soda exports shrank notably to $X in 2021. In general, exports saw a pronounced contraction. The growth pace was the most rapid in 2015 with an increase of 2,122% against the previous year. The exports peaked at $X in 2020, and then declined markedly in the following year.

Exports by Country

Honduras (X tons) was the main destination for baking soda exports from the Dominican Republic, accounting for a 84% share of total exports. Moreover, baking soda exports to Honduras exceeded the volume sent to the second major destination, the United States (X kg), more than tenfold. The third position in this ranking was taken by Haiti (X kg), with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Honduras was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-27.1% per year) and Haiti (+33.4% per year).

In value terms, Honduras ($X) emerged as the key foreign market for baking soda exports from the Dominican Republic, comprising 76% of total exports. The second position in the ranking was taken by Haiti ($X), with a 10% share of total exports. It was followed by the United States, with a 4.9% share.

From 2012 to 2021, the average annual growth rate of value to Honduras was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (+29.6% per year) and the United States (-17.0% per year).

Export Prices by Country

In 2021, the average baking soda export price amounted to $X per ton, which is down by -21.8% against the previous year. Over the period under review, export price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, baking soda export price increased by +47.3% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the average export price increased by 88%. As a result, the export price attained the peak level of $X per ton, and then contracted remarkably in the following year.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Trinidad and Tobago ($X per ton), while the average price for exports to the United States ($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 Jamaica (+58.0%), while the prices for the other major destinations experienced more modest paces of growth.

Baking Soda Imports

Imports into the Dominican Republic

In 2021, purchases abroad of baking soda decreased by -14.5% to X tons, falling for the second consecutive year after three years of growth. The total import volume increased at an average annual rate of +1.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by 28%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, baking soda imports shrank to $X in 2021. Overall, total imports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -16.7% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of 28% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Russia (X tons) constituted the largest baking soda supplier to the Dominican Republic, accounting for a 50% share of total imports. Moreover, baking soda imports from Russia exceeded the figures recorded by the second-largest supplier, the UK (X tons), fourfold. The third position in this ranking was held by Turkey (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Russia totaled +16.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+15.2% per year) and Turkey (+2.8% per year).

In value terms, the largest baking soda suppliers to the Dominican Republic were Russia ($X), Germany ($X) and the UK ($X), with a combined 62% share of total imports. These countries were followed by Turkey, Italy, China, the United States, Sweden and the Netherlands, which together accounted for a further 30%.

Italy, with a CAGR of +30.7%, recorded the highest rates of growth with regard to 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

The average baking soda import price stood at $X per ton in 2021, surging by 7.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2017 when the average import price increased by 10% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+23.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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