Dominican Republic: Wooden Office Furniture Market 2024

Wooden Office Furniture Market Size in the Dominican Republic

The Dominican wooden office furniture market rose sharply to $X in 2021, growing by 11% against the previous year. The market value increased at an average annual rate of +3.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Wooden Office Furniture Production in the Dominican Republic

In value terms, wooden office furniture production reached $X in 2021 estimated in export price. Overall, the total production indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -9.2% against 2019 indices. The growth pace was the most rapid in 2019 with an increase of 21%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Wooden Office Furniture Exports

Exports from the Dominican Republic

In 2021, the amount of wooden furniture of a kind used in offices exported from the Dominican Republic surged to X units, with an increase of 81% on the year before. Overall, exports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2018 when exports increased by 174%. The exports peaked at X units in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, wooden office furniture exports soared to $X in 2021. Over the period under review, exports, however, recorded a mild contraction. The pace of growth was the most pronounced in 2018 when exports increased by 196%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X units), Haiti (X units) and Aruba (X units) were the main destinations of wooden office furniture exports from the Dominican Republic, together accounting for 98% of total exports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +10.7%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) remains the key foreign market for wooden furniture of a kind used in offices exports from the Dominican Republic, comprising 73% of total exports. The second position in the ranking was taken by Haiti ($X), with a 23% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +6.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (-8.2% per year) and Aruba (-57.8% per year).

Export Prices by Country

In 2021, the average wooden office furniture export price amounted to $X per unit, approximately mirroring the previous year. In general, the export price saw a drastic downturn. The most prominent rate of growth was recorded in 2014 an increase of 30% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Aruba ($X per unit), while the average price for exports to Haiti ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Aruba (-2.9%), while the prices for the other major destinations experienced a decline.

Wooden Office Furniture Imports

Imports into the Dominican Republic

Wooden office furniture imports into the Dominican Republic expanded significantly to X units in 2021, picking up by 8.4% compared with the previous year. In general, imports, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2016 with an increase of 27% against the previous year. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, wooden office furniture imports surged to $X in 2021. Over the period under review, imports, however, recorded a abrupt decrease. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of wooden office furniture to the Dominican Republic, accounting for a 41% share of total imports. Moreover, wooden office furniture imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), twofold. Lithuania (X units) ranked third in terms of total imports with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-7.2% per year) and Lithuania (+35.7% per year).

In value terms, the United States ($X), China ($X) and Italy ($X) were the largest wooden office furniture suppliers to the Dominican Republic, together accounting for 74% of total imports. These countries were followed by Spain, Lithuania, Indonesia, Portugal, Brazil and Hong Kong SAR, which together accounted for a further 20%.

In terms of the main suppliers, Lithuania, with a CAGR of +27.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average wooden office furniture import price amounted to $X per unit, rising by 35% against the previous year. Over the last nine years, it increased at an average annual rate of +1.7%. The import price peaked at $X per unit in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Spain ($X per unit), while the price for Portugal ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+13.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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