Dominican Republic: Market for Wood Chips And Particles 2024

Market Size for Wood Chips And Particles in the Dominican Republic

In 2022, after two years of growth, there was significant decline in the Dominican wood chips and particles market, when its value decreased by -23.1% to $X. In general, consumption, however, continues to indicate a buoyant increase. Over the period under review, the market reached the maximum level at $X in 2021, and then shrank notably in the following year.

Production of Wood Chips And Particles in the Dominican Republic

In value terms, wood chips and particles production soared to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the production volume increased by 9,656,700%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Exports of Wood Chips And Particles

Exports from the Dominican Republic

After four years of growth, overseas shipments of wood chips and particles decreased by -4.8% to X cubic meters in 2022. Overall, exports showed a pronounced descent. The growth pace was the most rapid in 2021 when exports increased by 600%. Over the period under review, the exports reached the maximum at X cubic meters in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, wood chips and particles exports reached $X in 2022. Over the period under review, exports recorded a slight setback. The pace of growth was the most pronounced in 2016 with an increase of 7,400% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X cubic meters) was the main destination for wood chips and particles exports from the Dominican Republic, with a approx. 20% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at -19.0%.

In value terms, the United States ($X) also remains the key foreign market for wood chips and particles exports from the Dominican Republic.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled -25.7%.

Export Prices by Country

In 2022, the average wood chips and particles export price amounted to $X per cubic meter, growing by 6.3% against the previous year. Overall, the export price recorded a moderate increase. The pace of growth appeared the most rapid in 2016 when the average export price increased by 1,775% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in years to come.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to -8.2% per year.

Imports of Wood Chips And Particles

Imports into the Dominican Republic

In 2022, supplies from abroad of wood chips and particles decreased by -44.1% to X cubic meters for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 2,864%. As a result, imports attained the peak of X cubic meters, and then shrank remarkably in the following year.

In value terms, wood chips and particles imports soared to $X in 2022. Overall, imports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 1,549%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, the United States (X cubic meters) was the main supplier of wood chips and particles to the Dominican Republic, accounting for a 90% share of total imports. Moreover, wood chips and particles imports from the United States exceeded the figures recorded by the second-largest supplier, Chile (X cubic meters), tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to +41.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+44.2% per year) and Guatemala (-8.8% per year).

In value terms, Chile ($X) constituted the largest supplier of wood chips and particles to the Dominican Republic, comprising 88% of total imports. The second position in the ranking was taken by the United States ($X), with an 11% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Chile totaled +63.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+58.3% per year) and Guatemala (+8.1% per year).

Import Prices by Country

In 2022, the average wood chips and particles import price amounted to $X per cubic meter, rising by 343% against the previous year. Over the period under review, the import price enjoyed a strong expansion. The most prominent rate of growth was recorded in 2019 an increase of 1,495% against the previous year. Over the period under review, average import prices attained the maximum at $X per cubic meter in 2020; however, from 2021 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 Chile ($X per cubic meter), while the price for the United States ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+18.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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