Dominican Republic: Market for Electric Shavers, Hair-Removing Appliances And Hair Clippers 2022

Market Size for Electric Shavers, Hair-Removing Appliances And Hair Clippers in the Dominican Republic

For the sixth year in a row, the Dominican market for electric shavers, hair-removing appliances and hair clippers recorded growth in sales value, which increased by 0.2% to $X in 2021. Over the period under review, consumption enjoyed a prominent expansion. Over the period under review, the market hit record highs in 2021 and is likely to see steady growth in the immediate term.

Exports of Electric Shavers, Hair-Removing Appliances And Hair Clippers

Exports from the Dominican Republic

In 2021, overseas shipments of electric shavers, hair-removing appliances and hair clippers increased by 869% to X units for the first time since 2018, thus ending a two-year declining trend. In general, exports saw a significant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 30,835%. As a result, the exports reached the peak of X units. From 2019 to 2021, the growth of the exports of remained at a lower figure.

In value terms, exports of electric shavers, hair-removing appliances and hair clippers skyrocketed to $X in 2021. Over the period under review, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 27,233%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports of remained at a lower figure.

Exports by Country

Cuba (X units), the United States (X units) and Italy (X units) were the main destinations of exports of electric shavers, hair-removing appliances and hair clippers from the Dominican Republic, with a combined 90% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cuba (with a CAGR of +159.5%), while the other leaders experienced more modest paces of growth.

In value terms, Cuba ($X) remains the key foreign market for electric shavers, hair-removing appliances and hair clippers exports from the Dominican Republic, comprising 77% of total exports. The second position in the ranking was held by the United States ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Cuba stood at +250.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+49.2% per year) and Italy (0.0% per year).

Export Prices by Country

The average export price for electric shavers, hair-removing appliances and hair clippers stood at $X per unit in 2021, picking up by 209% against the previous year. Over the period under review, the export price recorded a prominent expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Italy ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cuba (+34.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Electric Shavers, Hair-Removing Appliances And Hair Clippers

Imports into the Dominican Republic

For the fourth consecutive year, the Dominican Republic recorded growth in purchases abroad of electric shavers, hair-removing appliances and hair clippers, which increased by 2.5% to X units in 2021. Overall, imports showed buoyant growth. The pace of growth appeared the most rapid in 2020 when imports increased by 118% against the previous year. Over the period under review, imports of attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, imports of electric shavers, hair-removing appliances and hair clippers shrank slightly to $X in 2021. Over the period under review, imports recorded buoyant growth. The pace of growth appeared the most rapid in 2018 when imports increased by 60% against the previous year. Imports peaked at $X in 2020, and then contracted slightly in the following year.

Imports by Country

In 2021, China (X units) was the main electric shavers, hair-removing appliances and hair clippers supplier to the Dominican Republic, accounting for a 93% share of total imports. Moreover, imports of electric shavers, hair-removing appliances and hair clippers from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +24.7%.

In value terms, China ($X) constituted the largest supplier of electric shavers, hair-removing appliances and hair clippers to the Dominican Republic, comprising 75% of total imports. The second position in the ranking was held by the United States ($X), with a 22% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +11.5%.

Import Prices by Country

The average import price for electric shavers, hair-removing appliances and hair clippers stood at $X per unit in 2021, waning by -2.7% against the previous year. Overall, the import price continues to indicate a abrupt slump. The pace of growth was the most pronounced in 2014 when the average import price increased by 10%. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per unit), while the price for China stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+7.3%).

Source: IndexBox Platform

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