Dominican Republic: Water-Skis And Surfboards Market 2024

Water-Skis And Surfboards Market Size in the Dominican Republic

The Dominican water-skis and surfboards market skyrocketed to $X in 2022, increasing by 25% against the previous year. In general, consumption showed a remarkable increase. Water-skis and surfboards consumption peaked in 2022 and is expected to retain growth in the immediate term.

Water-Skis And Surfboards Production in the Dominican Republic

In value terms, water-skis and surfboards production reached $X in 2022 estimated in export price. In general, the total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.4% 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 -2.4% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of 30% against the previous year. Water-skis and surfboards production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Water-Skis And Surfboards Exports

Exports from the Dominican Republic

In 2022, approx. X units of water-skis, surfboards and sailboards were exported from the Dominican Republic; which is down by -29% on 2021. In general, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 275%. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, water-skis and surfboards exports rose significantly to $X in 2022. Over the period under review, exports, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of 161% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for water-skis and surfboards exports from the Dominican Republic, accounting for a 14% share of total exports. Moreover, water-skis and surfboards exports to the United States exceeded the volume sent to the second major destination, Cuba (X units), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +14.4%.

In value terms, the United States ($X) remains the key foreign market for water-skis, surfboards and sailboards exports from the Dominican Republic, comprising 8.7% of total exports. The second position in the ranking was taken by Cuba ($X), with a 1.5% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +1.1%.

Export Prices by Country

In 2022, the average water-skis and surfboards export price amounted to $X per unit, rising by 56% against the previous year. Over the period under review, the export price, however, saw a deep contraction. The pace of growth appeared the most rapid in 2013 an increase of 60%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Cuba totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+55.4%), while the prices for the other major destinations experienced mixed trend patterns.

Water-Skis And Surfboards Imports

Imports into the Dominican Republic

In 2022, water-skis and surfboards imports into the Dominican Republic soared to X units, jumping by 196% compared with 2021. Overall, imports recorded a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, water-skis and surfboards imports soared to $X in 2022. Over the period under review, imports enjoyed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest water-skis and surfboards supplier to the Dominican Republic, accounting for a 78% share of total imports. Moreover, water-skis and surfboards imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), sixfold. Hong Kong SAR (X units) ranked third in terms of total imports with a 3.2% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +29.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+26.8% per year) and Hong Kong SAR (+37.4% per year).

In value terms, China ($X) constituted the largest supplier of water-skis, surfboards and sailboards to the Dominican Republic, comprising 75% of total imports. The second position in the ranking was held by the United States ($X), with a 13% share of total imports. It was followed by Spain, with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +21.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+20.0% per year) and Spain (+50.6% per year).

Import Prices by Country

The average water-skis and surfboards import price stood at $X per unit in 2022, falling by -7.5% against the previous year. Overall, the import price saw a abrupt decrease. The growth pace was the most rapid in 2016 when the average import price increased by 17% against the previous year. As a result, import price attained the peak level of $X per unit. From 2017 to 2022, the average import prices failed to regain momentum.

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 Spain ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :