Dominican Republic: Bracelet Market 2024

Bracelet Market Size in the Dominican Republic

In 2022, the Dominican bracelet market increased by 26% to $X, rising for the third year in a row after two years of decline. The market value increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Bracelet Production in the Dominican Republic

In value terms, bracelet production soared to $X in 2022 estimated in export price. Over the period under review, production, however, saw a noticeable curtailment. The growth pace was the most rapid in 2020 with an increase of 2,127% against the previous year. Bracelet production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Bracelet Exports

Exports from the Dominican Republic

In 2022, approx. X units of watch straps, bands and bracelets were exported from the Dominican Republic; falling by -84.3% compared with 2021. In general, exports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 914% against the previous year. As a result, the exports reached the peak of X units. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, bracelet exports reduced sharply to $X in 2022. Overall, exports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 1,126%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

France (X units) was the main destination for bracelet exports from the Dominican Republic, with a 30% share of total exports. Moreover, bracelet exports to France exceeded the volume sent to the second major destination, the United States (X units), fourfold.

From 2013 to 2022, the average annual rate of growth in terms of volume to France totaled +211.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-19.2% per year) and Sao Tome and Principe (-90.9% per year).

In value terms, France ($X) emerged as the key foreign market for watch straps, bands and bracelets exports from the Dominican Republic, comprising 82% of total exports. The second position in the ranking was held by the United States ($X), with a 17% share of total exports.

From 2013 to 2022, the average annual rate of growth in terms of value to France amounted to -36.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-26.2% per year) and Sao Tome and Principe (-94.1% per year).

Export Prices by Country

In 2022, the average bracelet export price amounted to $X per unit, falling by -55.9% against the previous year. Overall, the export price, however, continues to indicate resilient growth. The pace of growth was the most pronounced in 2014 an increase of 701%. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to Sao Tome and Principe ($X per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-8.6%), while the prices for the other major destinations experienced a decline.

Bracelet Imports

Imports into the Dominican Republic

Bracelet imports into the Dominican Republic expanded notably to X units in 2022, with an increase of 6.1% against the previous year. Over the period under review, imports recorded resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of 238%. Imports peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, bracelet imports rose significantly to $X in 2022. In general, imports saw a prominent increase. The growth pace was the most rapid in 2015 with an increase of 196% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest supplier of bracelet to the Dominican Republic, with a 67% share of total imports. Moreover, bracelet imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), sixfold. The third position in this ranking was held by France (X units), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +18.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+89.8% per year) and France (+6.9% per year).

In value terms, China ($X) constituted the largest supplier of watch straps, bands and bracelets to the Dominican Republic, comprising 65% of total imports. The second position in the ranking was taken by Switzerland ($X), with a 19% share of total imports. It was followed by France, with an 8.5% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +19.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+30.1% per year) and France (+6.3% per year).

Import Prices by Country

The average bracelet import price stood at $X per unit in 2022, increasing by 7.5% against the previous year. In general, import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, bracelet import price increased by +67.3% against 2017 indices. The pace of growth appeared the most rapid in 2018 when the average import price increased by 41%. Over the period under review, average import prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+4.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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