Dominican Republic: Veneer Sheets Market 2024

Veneer Sheets Market Size in the Dominican Republic

The Dominican veneer sheets market declined notably to $X in 2022, waning by -24.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a pronounced slump. Veneer sheets consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Veneer Sheets Exports

Exports from the Dominican Republic

In 2022, overseas shipments of veneer sheets increased by 95% to X cubic meters, rising for the second year in a row after five years of decline. In general, exports recorded a relatively flat trend pattern. Over the period under review, the exports attained the maximum at X cubic meters in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, veneer sheets exports skyrocketed to $X in 2022. Overall, exports, however, saw a mild downturn. The pace of growth appeared the most rapid in 2013 with an increase of 52%. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Curacao (X cubic meters) was the main destination for veneer sheets exports from the Dominican Republic, with a 73% share of total exports. Moreover, veneer sheets exports to Curacao exceeded the volume sent to the second major destination, Jamaica (X cubic meters), fivefold. The third position in this ranking was taken by Honduras (X cubic meters), with a 4.9% share.

From 2012 to 2022, the average annual growth rate of volume to Curacao was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Jamaica (-10.4% per year) and Honduras (+7.2% per year).

In value terms, the largest markets for veneer sheets exported from the Dominican Republic were Jamaica ($X), Honduras ($X) and Curacao ($X), together comprising 92% of total exports. Germany and the United States lagged somewhat behind, together accounting for a further 7.9%.

Among the main countries of destination, Germany, with a CAGR of +103.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average veneer sheets export price stood at $X per cubic meter in 2022, declining by -33.6% against the previous year. In general, the export price showed a mild setback. The most prominent rate of growth was recorded in 2016 an increase of 44%. The export price peaked at $X per cubic meter in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Honduras ($X per cubic meter), while the average price for exports to the United States ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Aruba (+456.0%), while the prices for the other major destinations experienced more modest paces of growth.

Veneer Sheets Imports

Imports into the Dominican Republic

In 2022, imports of veneer sheets into the Dominican Republic shrank significantly to X cubic meters, waning by -28.3% on the previous year. Over the period under review, imports recorded a deep contraction. The pace of growth was the most pronounced in 2014 with an increase of 92%. Over the period under review, imports attained the maximum at X cubic meters in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, veneer sheets imports fell rapidly to $X in 2022. In general, imports continue to indicate a mild descent. The pace of growth appeared the most rapid in 2021 with an increase of 45% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X cubic meters) constituted the largest supplier of veneer sheets to the Dominican Republic, accounting for a 27% share of total imports. Moreover, veneer sheets imports from the United States exceeded the figures recorded by the second-largest supplier, Mexico (X cubic meters), twofold. Spain (X cubic meters) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to -10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-7.0% per year) and Spain (-2.9% per year).

In value terms, Mexico ($X) constituted the largest supplier of veneer sheets to the Dominican Republic, comprising 39% of total imports. The second position in the ranking was held by Peru ($X), with a 14% share of total imports. It was followed by the United States, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Mexico totaled +12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+0.5% per year) and the United States (-9.4% per year).

Import Prices by Country

In 2022, the average veneer sheets import price amounted to $X per cubic meter, growing by 18% against the previous year. In general, the import price saw a strong increase. The pace of growth was the most pronounced in 2018 when the average import price increased by 36% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Mexico ($X per cubic meter), while the price for Canada ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+20.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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