Dominican Republic: Spectacles And Goggles Market 2024

Spectacles And Goggles Market Size in the Dominican Republic

In 2021, the Dominican spectacles and goggles market increased by 21% to $X, rising for the second year in a row after four years of decline. Over the period under review, the total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +8.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +60.2% against 2019 indices. Spectacles and goggles consumption peaked in 2021 and is expected to retain growth in the immediate term.

Spectacles And Goggles Exports

Exports from the Dominican Republic

In 2021, exports of spectacles and goggles from the Dominican Republic soared to X units, jumping by 480% compared with 2020. In general, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 713% against the previous year. The exports peaked at X units in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, spectacles and goggles exports surged to $X in 2021. Overall, exports saw a significant expansion. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Mexico (X units), Canada (X units) and Haiti (X units) were the main destinations of spectacles and goggles exports from the Dominican Republic, together comprising 68% of total exports.

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +169.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), Mexico ($X) and Haiti ($X) constituted the largest markets for spectacles and goggles exported from the Dominican Republic worldwide, together comprising 25% of total exports.

Peru, with a CAGR of +211.9%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average spectacles and goggles export price amounted to $X per unit, picking up by 88% against the previous year. In general, export price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The export price peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Canada ($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 Norway (+71.2%), while the prices for the other major destinations experienced more modest paces of growth.

Spectacles And Goggles Imports

Imports into the Dominican Republic

In 2021, supplies from abroad of spectacles and goggles increased by 48% to X units, rising for the third year in a row after two years of decline. Over the period under review, imports enjoyed a strong increase. The pace of growth was the most pronounced in 2015 when imports increased by 73% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, spectacles and goggles imports amounted to $X in 2021. Overall, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.0% 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 +31.8% against 2017 indices. The pace of growth appeared the most rapid in 2015 with an increase of 49% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, China (X units) constituted the largest supplier of spectacles and goggles to the Dominican Republic, accounting for a 64% share of total imports. Moreover, spectacles and goggles imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), fourfold. The third position in this ranking was taken by Mexico (X units), with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +13.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+9.8% per year) and Mexico (+5.5% per year).

In value terms, China ($X), the United States ($X) and Mexico ($X) appeared to be the largest spectacles and goggles suppliers to the Dominican Republic, together accounting for 87% of total imports. Taiwan (Chinese) and Panama lagged somewhat behind, together accounting for a further 3.4%.

Panama, with a CAGR of +9.1%, recorded the highest growth rate of the value of imports, among 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 spectacles and goggles import price stood at $X per unit in 2021, dropping by -24.7% against the previous year. Over the period under review, the import price showed a noticeable decline. The pace of growth appeared the most rapid in 2018 an increase of 57%. As a result, import price attained the peak level of $X per unit. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+14.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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