Dominican Republic: Composition Leather Market 2024

Composition Leather Market Size in the Dominican Republic

In 2021, the Dominican composition leather market increased by 53% to $X for the first time since 2018, thus ending a two-year declining trend. In general, the total consumption indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -28.6% against 2018 indices. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Composition Leather Exports

Exports from the Dominican Republic

In 2021, overseas shipments of composition leather increased by 114% to X square meters, rising for the second consecutive year after three years of decline. Overall, exports saw a remarkable increase. The growth pace was the most rapid in 2020 with an increase of 14,684% against the previous year. The exports peaked at X square meters in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, composition leather exports skyrocketed to $X in 2021. In general, exports showed a significant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 13,868%. The exports peaked in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Cambodia (X square meters) was the main destination for composition leather exports from the Dominican Republic, accounting for a 46% share of total exports. Moreover, composition leather exports to Cambodia exceeded the volume sent to the second major destination, the United States (X square meters), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Cambodia was relatively modest.

In value terms, Cambodia ($X) emerged as the key foreign market for composition leather exports from the Dominican Republic, comprising 44% of total exports. The second position in the ranking was taken by the United States ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Cambodia was relatively modest.

Export Prices by Country

In 2021, the average composition leather export price amounted to $X per square meter, dropping by -7.1% against the previous year. Overall, the export price, however, continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2014 when the average export price increased by 1,773% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per square meter in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per square meter), while the average price for exports to Cambodia stood at $X per square meter.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-0.0%).

Composition Leather Imports

Imports into the Dominican Republic

After two years of decline, supplies from abroad of composition leather increased by 40% to X square meters in 2021. Over the period under review, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -22.7% against 2018 indices. The growth pace was the most rapid in 2014 when imports increased by 69%. Over the period under review, imports reached the peak figure at X square meters in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, composition leather imports soared to $X in 2021. Overall, total imports indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -29.5% against 2018 indices. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Turkey (X square meters), Bolivia (X square meters) and Italy (X square meters) were the main suppliers of composition leather imports to the Dominican Republic, with a combined 68% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +76.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constituted the largest supplier of composition leather to the Dominican Republic, comprising 47% of total imports. The second position in the ranking was taken by Italy ($X), with a 14% share of total imports. It was followed by Bolivia, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from Turkey amounted to +28.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+78.2% per year) and Bolivia (+37.7% per year).

Import Prices by Country

In 2021, the average composition leather import price amounted to $X per square meter, growing by 12% against the previous year. Overall, the import price, however, recorded a noticeable slump. Over the period under review, average import prices hit record highs at $X per square meter in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Czech Republic ($X per square meter), while the price for Paraguay ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+38.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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