Dominican Republic: Market for Cultured Pearls, Precious Or Semi-Precious Stones 2024

Market Size for Cultured Pearls, Precious Or Semi-Precious Stones in the Dominican Republic

The Dominican precious stone and pearl market shrank notably to $X in 2022, reducing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw strong growth. Precious stone and pearl consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Exports of Cultured Pearls, Precious Or Semi-Precious Stones

Exports from the Dominican Republic

In 2022, approx. X tons of cultured pearls, precious or semi-precious stones were exported from the Dominican Republic; reducing by X% compared with 2021 figures. In general, exports faced a sharp slump. The pace of growth appeared the most rapid in 2015 with an increase of X%. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, precious stone and pearl exports contracted rapidly to $X in 2022. Overall, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Canada (X tons) was the main destination for precious stone and pearl exports from the Dominican Republic, with a X% share of total exports. Moreover, precious stone and pearl exports to Canada exceeded the volume sent to the second major destination, Thailand (X tons), twofold. Bulgaria (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Bulgaria (X% per year).

In value terms, the United States ($X) remains the key foreign market for cultured pearls, precious or semi-precious stones exports from the Dominican Republic, comprising X% of total exports. The second position in the ranking was taken by Canada ($X), with an X% share of total exports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Thailand (X% per year).

Export Prices by Country

The average precious stone and pearl export price stood at $X per ton in 2022, almost unchanged from the previous year. In general, the export price, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to the Netherlands ($X per ton) 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 (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cultured Pearls, Precious Or Semi-Precious Stones

Imports into the Dominican Republic

Precious stone and pearl imports into the Dominican Republic declined significantly to X tons in 2022, waning by X% against 2021 figures. Over the period under review, imports, however, enjoyed a pronounced increase. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, precious stone and pearl imports dropped slightly to $X in 2022. In general, imports, however, posted a strong increase. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then contracted modestly in the following year.

Imports by Country

In 2022, the United States (X tons) was the main supplier of precious stone and pearl to the Dominican Republic, with a X% share of total imports. It was followed by China (X kg), with less than X% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled X%.

In value terms, the United States ($X) constituted the largest supplier of cultured pearls, precious or semi-precious stones to the Dominican Republic, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled X%.

Import Prices by Country

In 2022, the average precious stone and pearl import price amounted to $X per ton, rising by X% against the previous year. Overall, the import price enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2020 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

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 ton), while the price for the United States amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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