Dominican Republic: Wooden Kitchen Furniture Market 2024

Wooden Kitchen Furniture Market Size in the Dominican Republic

The Dominican wooden kitchen furniture market reduced slightly to $X in 2022, which is down by -2.1% against the previous year. Overall, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +7.0% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Wooden Kitchen Furniture Production in the Dominican Republic

In value terms, wooden kitchen furniture production shrank to $X in 2022 estimated in export price. In general, the total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.4% 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 -13.5% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 41%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Wooden Kitchen Furniture Exports

Exports from the Dominican Republic

In 2022, approx. X units of wooden furniture for kitchens were exported from the Dominican Republic; with a decrease of -82.1% on 2021 figures. Overall, exports showed a abrupt setback. The pace of growth appeared the most rapid in 2016 with an increase of 238% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, wooden kitchen furniture exports soared to $X in 2022. Over the period under review, exports, however, posted a modest expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 174%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for wooden kitchen furniture exports from the Dominican Republic, accounting for a 81% share of total exports. Moreover, wooden kitchen furniture exports to the United States exceeded the volume sent to the second major destination, Honduras (X units), ninefold. The third position in this ranking was taken by Haiti (X units), with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at -10.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+62.8% per year) and Haiti (-1.9% per year).

In value terms, the United States ($X) remains the key foreign market for wooden furniture for kitchens exports from the Dominican Republic, comprising 92% of total exports. The second position in the ranking was taken by Honduras ($X), with a 3.9% share of total exports. It was followed by Haiti, with a 2.7% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+75.3% per year) and Haiti (+1.0% per year).

Export Prices by Country

The average wooden kitchen furniture export price stood at $X per unit in 2022, rising by 1,128% against the previous year. Over the period under review, the export price showed a buoyant expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to France ($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 the United States (+14.1%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Kitchen Furniture Imports

Imports into the Dominican Republic

After three years of decline, purchases abroad of wooden furniture for kitchens increased by 120% to X units in 2022. Overall, imports saw strong growth. The growth pace was the most rapid in 2013 when imports increased by 125%. Imports peaked at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, wooden kitchen furniture imports surged to $X in 2022. In general, imports posted a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X units), Spain (X units) and Germany (X units) were the main suppliers of wooden kitchen furniture imports to the Dominican Republic, together accounting for 84% of total imports. China, Turkey and the United States lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +56.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of wooden furniture for kitchens to the Dominican Republic, comprising 50% of total imports. The second position in the ranking was taken by Spain ($X), with a 21% share of total imports. It was followed by China, with a 17% share.

From 2012 to 2022, the average annual growth rate of value from Italy stood at +14.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+21.9% per year) and China (+13.9% per year).

Import Prices by Country

The average wooden kitchen furniture import price stood at $X per unit in 2022, shrinking by -2.8% against the previous year. Overall, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wooden kitchen furniture import price increased by +82.5% against 2017 indices. The most prominent rate of growth was recorded in 2019 an increase of 35%. Over the period under review, average import prices attained the maximum at $X per unit in 2021, and then contracted in the following year.

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 China ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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