Dominican Republic: Imitation Jewellery Market 2023

Imitation Jewellery Market Size in the Dominican Republic

The Dominican imitation jewellery market skyrocketed to $X in 2021, growing by 39% against the previous year. In general, consumption posted a strong expansion. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Imitation Jewellery Production in the Dominican Republic

In value terms, imitation jewellery production expanded slightly to $X in 2021 estimated in export price. Overall, production, however, recorded a notable expansion. The pace of growth appeared the most rapid in 2019 when the production volume increased by 39%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Imitation Jewellery Exports

Exports from the Dominican Republic

In 2021, approx. X tons of imitation jewelry were exported from the Dominican Republic; picking up by 34% on 2020. Overall, exports, however, saw a perceptible slump. The pace of growth appeared the most rapid in 2014 with an increase of 1,107% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, imitation jewellery exports skyrocketed to $X in 2021. Over the period under review, exports posted a measured increase. The pace of growth was the most pronounced in 2014 with an increase of 904% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for imitation jewellery exports from the Dominican Republic, accounting for a approx. 94% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled -1.9%.

In value terms, the United States ($X) also remains the key foreign market for imitation jewellery exports from the Dominican Republic.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +3.7%.

Export Prices by Country

The average imitation jewellery export price stood at $X per ton in 2021, shrinking by -2.9% against the previous year. Over the period under review, the export price, however, showed a resilient increase. The pace of growth was the most pronounced in 2017 when the average export price increased by 73%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2020, and then declined slightly in the following year.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to +5.7% per year.

Imitation Jewellery Imports

Imports into the Dominican Republic

Imitation jewellery imports into the Dominican Republic soared to X tons in 2021, picking up by 48% against the year before. Over the period under review, imports saw a resilient increase. The most prominent rate of growth was recorded in 2019 with an increase of 653%. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, imitation jewellery imports soared to $X in 2021. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 420% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest imitation jewellery supplier to the Dominican Republic, accounting for a 87% share of total imports. Moreover, imitation jewellery imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +19.7%.

In value terms, China ($X) constituted the largest supplier of imitation jewellery to the Dominican Republic, comprising 50% of total imports. The second position in the ranking was taken by the United States ($X), with a 23% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China was relatively modest.

Import Prices by Country

In 2021, the average imitation jewellery import price amounted to $X per ton, approximately reflecting the previous year. Over the period under review, the import price recorded a drastic downturn. The growth pace was the most rapid in 2018 an increase of 44%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for China stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (-8.8%).

Source: IndexBox Market Intelligence Platform

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