Dominican Republic: Table Flatware Market 2024

Table Flatware Market Size in the Dominican Republic

In 2022, the Dominican table flatware market increased by 4.3% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the near future.

Table Flatware Production in the Dominican Republic

In value terms, table flatware production reached $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 26% against the previous year. Table flatware production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Table Flatware Exports

Exports from the Dominican Republic

In 2022, overseas shipments of table flatware increased by 28% to X tons, rising for the second consecutive year after four years of decline. Overall, exports saw a strong increase. The most prominent rate of growth was recorded in 2014 when exports increased by 633%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, table flatware exports fell slightly to $X in 2022. Over the period under review, exports enjoyed measured growth. The pace of growth was the most pronounced in 2014 with an increase of 408% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Haiti (X tons) was the main destination for table flatware exports from the Dominican Republic, accounting for a 66% share of total exports. Moreover, table flatware exports to Haiti exceeded the volume sent to the second major destination, the United States (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Haiti stood at +38.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-9.1% per year) and Turks and Caicos Islands (+305.4% per year).

In value terms, Haiti ($X) emerged as the key foreign market for table flatware exports from the Dominican Republic, comprising 61% of total exports. The second position in the ranking was held by the United States ($X), with a 26% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Haiti stood at +29.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-7.0% per year) and Turks and Caicos Islands (+257.9% per year).

Export Prices by Country

In 2022, the average table flatware export price amounted to $X per ton, with a decrease of -24.6% against the previous year. Over the period under review, the export price continues to indicate a mild decrease. The pace of growth appeared the most rapid in 2013 when the average export price increased by 66% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Turks and Caicos Islands ($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 Jamaica (+94.8%), while the prices for the other major destinations experienced mixed trend patterns.

Table Flatware Imports

Imports into the Dominican Republic

In 2022, table flatware imports into the Dominican Republic reached X tons, rising by 10% against the previous year. Overall, imports posted buoyant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 91% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, table flatware imports soared to $X in 2022. Over the period under review, imports showed a buoyant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 62%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of table flatware to the Dominican Republic, accounting for a 71% share of total imports. Moreover, table flatware imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), sixfold. The third position in this ranking was taken by India (X tons), with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +13.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+13.5% per year) and India (+15.2% per year).

In value terms, China ($X) constituted the largest supplier of table flatware to the Dominican Republic, comprising 61% of total imports. The second position in the ranking was taken by Spain ($X), with a 16% share of total imports. It was followed by India, with a 4.5% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+12.3% per year) and India (+9.5% per year).

Import Prices by Country

In 2022, the average table flatware import price amounted to $X per ton, rising by 18% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced shrinkage. Over the period under review, average import prices attained the maximum at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+3.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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