Dominican Republic: Plastic Ornamental Articles Market 2024

Plastic Ornamental Articles Market Size in the Dominican Republic

The Dominican plastic ornamental articles market soared to $X in 2022, rising by 20% against the previous year. In general, the total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +53.3% against 2020 indices. Plastic ornamental articles consumption peaked in 2022 and is expected to retain growth in the near future.

Plastic Ornamental Articles Production in the Dominican Republic

In value terms, plastic ornamental articles production fell to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the production volume increased by 21% against the previous year. Plastic ornamental articles production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Plastic Ornamental Articles Exports

Exports from the Dominican Republic

In 2022, overseas shipments of statuettes and other ornamental articles of plastic increased by 5.9% to X tons, rising for the second year in a row after two years of decline. In general, exports recorded a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of 370% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic ornamental articles exports surged to $X in 2022. Overall, exports enjoyed prominent growth. The pace of growth was the most pronounced in 2018 when exports increased by 181%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for plastic ornamental articles exports from the Dominican Republic, accounting for a 48% share of total exports. Moreover, plastic ornamental articles exports to the United States exceeded the volume sent to the second major destination, Mexico (X tons), tenfold. The third position in this ranking was held by Germany (X tons), with a 4.3% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +23.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+75.0% per year) and Germany (+143.6% per year).

In value terms, the United States ($X) remains the key foreign market for statuettes and other ornamental articles of plastic exports from the Dominican Republic, comprising 54% of total exports. The second position in the ranking was held by Germany ($X), with a 15% share of total exports. It was followed by Mexico, with a 3.5% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +23.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+99.9% per year) and Mexico (+63.8% per year).

Export Prices by Country

The average plastic ornamental articles export price stood at $X per ton in 2022, picking up by 54% against the previous year. Overall, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 83% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+31.9%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Ornamental Articles Imports

Imports into the Dominican Republic

In 2022, overseas purchases of statuettes and other ornamental articles of plastic increased by 76% to X tons, rising for the fifth consecutive year after two years of decline. Over the period under review, imports showed buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of 328% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, plastic ornamental articles imports soared to $X in 2022. In general, imports enjoyed strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) was the main plastic ornamental articles supplier to the Dominican Republic, accounting for a 91% share of total imports. It was followed by the United States (X tons), with a 2.3% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +20.0%.

In value terms, China ($X) constituted the largest supplier of statuettes and other ornamental articles of plastic to the Dominican Republic, comprising 88% of total imports. The second position in the ranking was held by the United States ($X), with a 2.5% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +15.1%.

Import Prices by Country

The average plastic ornamental articles import price stood at $X per ton in 2022, surging by 14% against the previous year. In general, the import price, however, continues to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2016 when the average import price increased by 261%. Over the period under review, average import prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-3.2%).

Source: IndexBox Platform

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