Dominican Republic: Static Converter Market 2025

Static Converter Market Size in the Dominican Republic

In 2021, the Dominican static converter market decreased by -18.6% to $X for the first time since 2017, thus ending a three-year rising trend. Over the period under review, the total consumption indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +3.0% 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 +42.8% against 2017 indices. As a result, consumption reached the peak level of $X, and then dropped rapidly in the following year.

Static Converter Production in the Dominican Republic

In value terms, static converter production fell notably to $X in 2021 estimated in export price. In general, production, however, continues to indicate noticeable growth. The growth pace was the most rapid in 2018 when the production volume increased by 87% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then declined notably in the following year.

Static Converter Exports

Exports from the Dominican Republic

In 2021, overseas shipments of static converters increased by 129% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports, however, showed a mild contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 200% against the previous year. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, static converter exports skyrocketed to $X in 2021. In general, exports recorded a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 257%. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

Haiti (X units), Germany (X units) and the Netherlands (X units) were the main destinations of static converter exports from the Dominican Republic, together accounting for 17% of total exports.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +38.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) emerged as the key foreign market for static converters exports from the Dominican Republic, comprising 5.9% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 2.6% share of total exports. It was followed by Haiti, with a 1.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +8.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+29.6% per year) and Haiti (+2.6% per year).

Export Prices by Country

The average static converter export price stood at $X per unit in 2021, picking up by 51% against the previous year. In general, the export price recorded a significant increase. The most prominent rate of growth was recorded in 2013 an increase of 125%. The export price peaked in 2021 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United States ($X per unit), while the average price for exports to Guyana ($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 the United States (+41.2%), while the prices for the other major destinations experienced mixed trend patterns.

Static Converter Imports

Imports into the Dominican Republic

In 2021, overseas purchases of static converters decreased by -10.6% to X units, falling for the fourth year in a row after four years of growth. In general, imports, however, showed strong growth. The most prominent rate of growth was recorded in 2016 with an increase of 133%. Over the period under review, imports attained the maximum at X units in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, static converter imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) was the main static converter supplier to the Dominican Republic, accounting for a 105% share of total imports. Moreover, static converter 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 held by Italy (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 +20.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+7.4% per year) and Italy (+28.4% per year).

In value terms, China ($X) constituted the largest supplier of static converters to the Dominican Republic, comprising 46% of total imports. The second position in the ranking was taken by the United States ($X), with a 17% share of total imports. It was followed by Spain, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+1.6% per year) and Spain (+34.6% per year).

Import Prices by Country

In 2021, the average static converter import price amounted to $X per unit, jumping by 42% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by 79%. Over the period under review, average import prices hit record highs at $X per unit in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+8.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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