Dominican Republic - Watches - Market Analysis, Forecast, Size, Trends and Insights
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View PricingWatch Price in the Dominican Republic - 2023
Contents:
- Watch Price in the Dominican Republic (CIF) - 2023
- Watch Price in the Dominican Republic (FOB) - 2022
- Watch Imports in the Dominican Republic
- Watch Exports in the Dominican Republic
Watch Price in the Dominican Republic (CIF) - 2023
In March 2023, the average watch import price amounted to $23.4 per unit, waning by -19.1% against the previous month. Overall, the import price, however, showed modest growth. The most prominent rate of growth was recorded in July 2022 an increase of 170% month-to-month. Over the period under review, average import prices hit record highs at $51.2 per unit in January 2023; however, from February 2023 to March 2023, import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for China.
From March 2022 to March 2023, the rate of growth in terms of prices for China amounted to -0.3% per month.
Watch Price in the Dominican Republic (FOB) - 2022
The average watch export price stood at $57 per unit in 2022, dropping by -96.7% against the previous year. In general, the export price recorded a sharp descent. The growth pace was the most rapid in 2021 when the average export price increased by 332%. As a result, the export price attained the peak level of $1,737 per unit, and then plummeted in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($1,402 per unit), while the average price for exports to Peru ($10 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 (-1.3%), while the prices for the other major destinations experienced a decline.
Watch Imports in the Dominican Republic
In 2022, approx. 521K units of watches were imported into the Dominican Republic; with an increase of 29% compared with the previous year's figure. Overall, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 75%. Imports peaked in 2022 and are likely to see steady growth in years to come.
In value terms, watch imports rose remarkably to $14M in 2022. In general, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +8.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +65.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 54% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Watch in the Dominican Republic (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Switzerland | 6.5 | 6.4 | 10.1 | 9.7 | 14.3% |
| China | 3.0 | 1.6 | 2.5 | 2.7 | -3.5% |
| United States | 1.1 | 0.2 | 0.2 | 1.0 | -3.1% |
| Panama | N/A | N/A | N/A | 0.1 | 0% |
| Others | 0.5 | 0.3 | 0.2 | 0.3 | -15.7% |
| Total | 11.0 | 8.4 | 13.0 | 13.9 | 8.1% |
Top Suppliers of Watch to the Dominican Republic in 2022:
- China (246.3K units)
- United States (112.5K units)
- Switzerland (90.1K units)
- Panama (66.0K units)
Watch Exports in the Dominican Republic
In 2022, shipments abroad of watches was finally on the rise to reach 31K units for the first time since 2019, thus ending a two-year declining trend. In general, exports continue to indicate a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, watch exports shrank dramatically to $1.8M in 2022. Overall, exports, however, saw a slight shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 128% against the previous year. Over the period under review, the exports attained the peak figure at $5.3M in 2021, and then fell dramatically in the following year.
| Export of Watch in the Dominican Republic (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1,528 | 3,949 | 5,109 | 1,407 | -2.7% |
| Sao Tome and Principe | 121 | 12.5 | 198 | 324 | 38.9% |
| Haiti | 53.1 | 5.1 | 3.3 | 4.3 | -56.7% |
| Peru | 31.1 | N/A | 1.6 | N/A | -77.3% |
| Mexico | 12.2 | 19.9 | N/A | N/A | 63.1% |
| Others | 118 | 259 | 27.9 | 46.9 | -26.5% |
| Total | 1,863 | 4,245 | 5,340 | 1,783 | -1.5% |
Top Export Markets for Watch from the Dominican Republic in 2022:
- Peru (undefinedK units)
- Sao Tome and Principe (30.0K units)
- United States (1.0K units)
- Haiti (0.1K units)
This report provides an in-depth analysis of the watch market in the Dominican Republic. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 26521100 - Wrist-watches, pocket-watches, with case of precious metal or of metal clad with precious metal
- Prodcom 26521200 - Other wrist-watches, pocket-watches and other watches, i ncluding stop-watches
Country coverage:
- Dominican Republic
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the Dominican Republic
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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