Dominican Republic: Tin Bar Market 2024

Tin Bar Market Size in the Dominican Republic

In 2022, after two years of decline, there was significant growth in the Dominican tin bar market, when its value increased by 56% to $X. Overall, the total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Tin Bar Production in the Dominican Republic

In value terms, tin bar production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 57%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Tin Bar Exports

Exports from the Dominican Republic

In 2022, exports of tin bars, rods, profiles and wires from the Dominican Republic fell rapidly to X tons, shrinking by -98.3% on 2021 figures. In general, exports, however, showed a mild increase. The most prominent rate of growth was recorded in 2021 with an increase of 17,821% against the previous year. As a result, the exports reached the peak of X tons, and then dropped markedly in the following year.

In value terms, tin bar exports fell dramatically to $X in 2022. Over the period under review, exports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 135,678% against the previous year. As a result, the exports attained the peak of $X, and then contracted markedly in the following year.

Exports by Country

Haiti (X kg) was the main destination for tin bar exports from the Dominican Republic, with a 71% share of total exports. Moreover, tin bar exports to Haiti exceeded the volume sent to the second major destination, Turks and Caicos Islands (X kg), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Haiti totaled -1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turks and Caicos Islands (0.0% per year) and the United States (-11.5% per year).

In value terms, Haiti ($X) emerged as the key foreign market for tin bars, rods, profiles and wires exports from the Dominican Republic, comprising 95% of total exports. The second position in the ranking was taken by Turks and Caicos Islands ($X), with a 4.5% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Haiti amounted to +18.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turks and Caicos Islands (0.0% per year) and the United States (-7.5% per year).

Export Prices by Country

In 2022, the average tin bar export price amounted to $X per ton, dropping by -28.4% against the previous year. In general, the export price, however, enjoyed a prominent increase. The growth pace was the most rapid in 2014 when the average export price increased by 969% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average 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 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 Haiti (+20.7%).

Tin Bar Imports

Imports into the Dominican Republic

In 2022, purchases abroad of tin bars, rods, profiles and wires increased by 148% to X tons, rising for the second year in a row after three years of decline. In general, imports enjoyed resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, tin bar imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of tin bar to the Dominican Republic, with a 86% share of total imports. Moreover, tin bar imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), eightfold.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at +20.0%.

In value terms, the United States ($X) constituted the largest supplier of tin bars, rods, profiles and wires to the Dominican Republic, comprising 94% of total imports. The second position in the ranking was held by China ($X), with a 5.6% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +20.7%.

Import Prices by Country

The average tin bar import price stood at $X per ton in 2022, with an increase of 6.7% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 40% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices 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 stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+0.6%).

Source: IndexBox Platform

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