Dominican Republic: Unvulcanized Rubber Market 2024

Unvulcanized Rubber Market Size in the Dominican Republic

The Dominican unvulcanized rubber market rose rapidly to $X in 2022, surging by 6.7% against the previous year. The market value increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Unvulcanized Rubber Production in the Dominican Republic

In value terms, unvulcanized rubber production stood at $X in 2022 estimated in export price. Over the period under review, the total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.7% against 2020 indices. The pace of growth appeared the most rapid in 2016 with an increase of 48% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Unvulcanized Rubber Exports

Exports from the Dominican Republic

In 2022, after two years of decline, there was significant growth in shipments abroad of unvulcanized rubber and articles thereof, when their volume increased by 358% to X tons. Overall, exports, however, saw a abrupt decline. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, unvulcanized rubber exports skyrocketed to $X in 2022. In general, exports, however, showed a deep contraction. The growth pace was the most rapid in 2019 with an increase of 303% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Haiti (X tons) was the main destination for unvulcanized rubber exports from the Dominican Republic, accounting for a 50% share of total exports. Moreover, unvulcanized rubber exports to Haiti exceeded the volume sent to the second major destination, the United States (X tons), twofold. Cuba (X tons) ranked third in terms of total exports with a 20% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Haiti totaled -10.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+7.3% per year) and Cuba (-10.3% per year).

In value terms, the largest markets for unvulcanized rubber exported from the Dominican Republic were Haiti ($X), the United States ($X) and Cuba ($X), with a combined 86% share of total exports. Panama and Turks and Caicos Islands lagged somewhat behind, together comprising a further 9.5%.

Turks and Caicos Islands, with a CAGR of +31.2%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average unvulcanized rubber export price stood at $X per ton in 2022, waning by -13.7% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 65% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Turks and Caicos Islands ($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 Panama (+11.9%), while the prices for the other major destinations experienced more modest paces of growth.

Unvulcanized Rubber Imports

Imports into the Dominican Republic

In 2022, overseas purchases of unvulcanized rubber and articles thereof increased by 4% to X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, imports, however, saw a pronounced contraction. The most prominent rate of growth was recorded in 2014 with an increase of 48% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, unvulcanized rubber imports surged to $X in 2022. In general, imports, however, continue to indicate a perceptible slump. The pace of growth was the most pronounced in 2014 with an increase of 40%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), the United States (X tons) and Spain (X tons) were the main suppliers of unvulcanized rubber imports to the Dominican Republic, with a combined 75% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +33.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest unvulcanized rubber suppliers to the Dominican Republic were China ($X), the United States ($X) and Peru ($X), with a combined 74% share of total imports.

Peru, with a CAGR of +27.0%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average unvulcanized rubber import price stood at $X per ton in 2022, with an increase of 15% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 51%. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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