Dominican Republic: Travel Set Market 2024

Travel Set Market Size in the Dominican Republic

The Dominican travel set market soared to $X in 2021, surging by 27% against the previous year. In general, consumption enjoyed strong growth. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Travel Set Production in the Dominican Republic

In value terms, travel set production soared to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a resilient expansion. The growth pace was the most rapid in 2019 when the production volume increased by 101%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Travel Set Exports

Exports from the Dominican Republic

In 2021, shipments abroad of travel sets increased by 40% to X units for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, faced a dramatic shrinkage. The pace of growth was the most pronounced in 2014 with an increase of 179%. Over the period under review, the exports attained the maximum at X units in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, travel set exports reduced slightly to $X in 2021. Over the period under review, exports, however, continue to indicate a precipitous descent. The pace of growth appeared the most rapid in 2014 when exports increased by 176% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Jamaica (X units) was the main destination for travel set exports from the Dominican Republic, accounting for a 63% share of total exports. Moreover, travel set exports to Jamaica exceeded the volume sent to the second major destination, Mexico (X units), twofold. The third position in this ranking was held by China (X units), with a 6.7% share.

From 2012 to 2021, the average annual growth rate of volume to Jamaica amounted to -9.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-26.4% per year) and China (-16.8% per year).

In value terms, Jamaica ($X), Mexico ($X) and Spain ($X) constituted the largest markets for travel set exported from the Dominican Republic worldwide, with a combined 95% share of total exports. These countries were followed by China, Guatemala and the United States, which together accounted for a further 5.3%.

The United States, with a CAGR of -8.3%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average travel set export price amounted to $X per unit, waning by -30.8% against the previous year. Overall, the export price recorded a perceptible reduction. The most prominent rate of growth was recorded in 2017 when the average export price increased by 23% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Spain ($X per unit), while the average price for exports to Guatemala ($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 Haiti (+66.0%), while the prices for the other major destinations experienced mixed trend patterns.

Travel Set Imports

Imports into the Dominican Republic

In 2021, approx. X units of travel sets were imported into the Dominican Republic; surging by 45% on the year before. Over the period under review, imports enjoyed a significant expansion. The growth pace was the most rapid in 2019 when imports increased by 143% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, travel set imports skyrocketed to $X in 2021. In general, imports saw a strong increase. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest travel set supplier to the Dominican Republic, with a 61% share of total imports. Moreover, travel set imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X units), threefold. Costa Rica (X units) ranked third in terms of total imports with a 5.6% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +18.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+84.3% per year) and Costa Rica (+59.5% per year).

In value terms, China ($X) constituted the largest supplier of travel sets to the Dominican Republic, comprising 51% of total imports. The second position in the ranking was taken by Mexico ($X), with a 19% share of total imports. It was followed by Costa Rica, with a 4.6% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+69.4% per year) and Costa Rica (+42.5% per year).

Import Prices by Country

The average travel set import price stood at $X per unit in 2021, surging by 24% against the previous year. In general, the import price, however, recorded a abrupt setback. Over the period under review, average import prices attained the maximum at $X per unit in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+18.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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