Dominican Republic: Cotton Fabric Market 2024

Cotton Fabric Market Size in the Dominican Republic

The Dominican cotton fabric market rose notably to $X in 2021, growing by 14% against the previous year. The market value increased at an average annual rate of +2.5% 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 2015 to 2021, the growth of the market remained at a lower figure.

Cotton Fabric Production in the Dominican Republic

In value terms, cotton fabric production rose markedly to $X in 2021 estimated in export price. In general, production, however, showed a pronounced shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 77%. Cotton fabric production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Cotton Fabric Exports

Exports from the Dominican Republic

In 2021, the amount of woven fabrics of cotton exported from the Dominican Republic rose remarkably to X tons, increasing by 15% on the previous year's figure. In general, exports, however, recorded a noticeable shrinkage. The growth pace was the most rapid in 2019 when exports increased by 42%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, cotton fabric exports skyrocketed to $X in 2021. Overall, exports, however, showed a perceptible setback. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Haiti (X tons) was the main destination for cotton fabric exports from the Dominican Republic, accounting for a 89% share of total exports. Moreover, cotton fabric exports to Haiti exceeded the volume sent to the second major destination, Honduras (X tons), more than tenfold. El Salvador (X tons) ranked third in terms of total exports with a 3.3% share.

From 2012 to 2021, the average annual growth rate of volume to Haiti was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+22.0% per year) and El Salvador (+74.1% per year).

In value terms, Haiti ($X) remains the key foreign market for woven fabrics of cotton exports from the Dominican Republic, comprising 90% of total exports. The second position in the ranking was taken by Honduras ($X), with a 5.1% share of total exports. It was followed by El Salvador, with a 3% share.

From 2012 to 2021, the average annual growth rate of value to Haiti was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+29.7% per year) and El Salvador (+97.5% per year).

Export Prices by Country

The average cotton fabric export price stood at $X per ton in 2021, increasing by 37% against the previous year. In general, export price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when the average export price increased by 43%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were Haiti ($X per ton) and Honduras ($X per ton), while the average price for exports to Nicaragua ($X per ton) and El Salvador ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Nicaragua (+18.9%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton Fabric Imports

Imports into the Dominican Republic

In 2021, overseas purchases of woven fabrics of cotton increased by 57% to X tons, rising for the second year in a row after four years of decline. In general, imports showed strong growth. The most prominent rate of growth was recorded in 2015 with an increase of 130%. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, cotton fabric imports soared to $X in 2021. Over the period under review, imports posted mild growth. The pace of growth appeared the most rapid in 2015 when imports increased by 75%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

The United States (X tons), China (X tons) and Nicaragua (X tons) were the main suppliers of cotton fabric imports to the Dominican Republic, together comprising 98% of total imports. India, Honduras, Panama and Guatemala lagged somewhat behind, together comprising a further 19%.

From 2012 to 2021, the biggest increases were recorded for Panama (with a CAGR of +44.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of woven fabrics of cotton to the Dominican Republic, comprising 77% of total imports. The second position in the ranking was held by China ($X), with a 36% share of total imports. It was followed by Nicaragua, with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to +8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.9% per year) and Nicaragua (+3.2% per year).

Import Prices by Country

In 2021, the average cotton fabric import price amounted to $X per ton, picking up by 6% against the previous year. Overall, the import price, however, recorded a noticeable slump. The growth pace was the most rapid in 2014 an increase of 22%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

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 the United States ($X per ton), while the price for Panama ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (-0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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