Dominican Republic: Wooden Bedroom Furniture Market 2024

Wooden Bedroom Furniture Market Size in the Dominican Republic

The Dominican wooden bedroom furniture market expanded sharply to $X in 2022, increasing by 12% against the previous year. In general, consumption saw a remarkable increase. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Wooden Bedroom Furniture Production in the Dominican Republic

In value terms, wooden bedroom furniture production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production posted prominent growth. The growth pace was the most rapid in 2020 when the production volume increased by 88% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Wooden Bedroom Furniture Exports

Exports from the Dominican Republic

In 2022, shipments abroad of wooden furniture of a kind used in the bedroom increased by 119% to X units, rising for the second consecutive year after two years of decline. In general, exports, however, faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when exports increased by 961%. As a result, the exports attained the peak of X units. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, wooden bedroom furniture exports surged to $X in 2022. Overall, exports, however, recorded a drastic downturn. The pace of growth appeared the most rapid in 2018 with an increase of 1,217%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for wooden bedroom furniture exports from the Dominican Republic, with a 60% share of total exports. Moreover, wooden bedroom furniture exports to the United States exceeded the volume sent to the second major destination, Guyana (X units), fourfold. Haiti (X units) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guyana (+68.5% per year) and Haiti (-8.5% per year).

In value terms, the United States ($X) remains the key foreign market for wooden furniture of a kind used in the bedroom exports from the Dominican Republic, comprising 69% of total exports. The second position in the ranking was taken by Bahamas ($X), with a 14% share of total exports. It was followed by Guyana, with a 6.9% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +10.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahamas (+3.6% per year) and Guyana (+56.0% per year).

Export Prices by Country

In 2022, the average wooden bedroom furniture export price amounted to $X per unit, waning by -18.1% against the previous year. Over the period under review, the export price, however, showed resilient growth. The pace of growth appeared the most rapid in 2020 an increase of 185%. As a result, the export price attained the peak level of $X per unit. From 2021 to 2022, 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 Bahamas ($X per unit), while the average price for exports to Guyana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bahamas (+15.7%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Bedroom Furniture Imports

Imports into the Dominican Republic

In 2022, imports of wooden furniture of a kind used in the bedroom into the Dominican Republic rose markedly to X units, with an increase of 12% compared with 2021. Over the period under review, total imports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +81.6% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 61% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, wooden bedroom furniture imports skyrocketed to $X in 2022. Overall, imports showed a prominent expansion. The pace of growth appeared the most rapid in 2016 with an increase of 86%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), Malaysia (X units) and Poland (X units) were the main suppliers of wooden bedroom furniture imports to the Dominican Republic, together accounting for 64% of total imports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +13.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Malaysia ($X) and Spain ($X) appeared to be the largest wooden bedroom furniture suppliers to the Dominican Republic, with a combined 66% share of total imports.

In terms of the main suppliers, Malaysia, with a CAGR of +18.0%, 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

The average wooden bedroom furniture import price stood at $X per unit in 2022, surging by 31% against the previous year. Over the period under review, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 an increase of 33% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2019; however, from 2020 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 Spain ($X per unit), while the price for Poland ($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 (+18.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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