Dominican Republic: Wire And Cable Market 2024

Wire And Cable Market Size in the Dominican Republic

The Dominican wire and cable market soared to $X in 2022, increasing 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). Overall, consumption enjoyed a perceptible increase. Wire and cable consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Wire And Cable Exports

Exports from the Dominican Republic

In 2022, shipments abroad of insulated wire and cable decreased by X% to X tons, falling for the fifth year in a row after two years of growth. In general, exports, however, recorded mild growth. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, wire and cable exports expanded significantly to $X in 2022. Overall, exports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Haiti (X tons) was the main destination for wire and cable exports from the Dominican Republic, accounting for a X% share of total exports. Moreover, wire and cable exports to Haiti exceeded the volume sent to the second major destination, the United States (X tons), fourfold. The third position in this ranking was held by Canada (X tons), with a X% share.

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

In value terms, Canada ($X) remains the key foreign market for insulated wire and cable exports from the Dominican Republic, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Haiti, with a X% share.

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

Export Prices by Country

In 2022, the average wire and cable export price amounted to $X per ton, rising by X% against the previous year. In general, the export price showed a remarkable increase. The pace of growth was the most pronounced in 2019 an increase of X% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

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

Wire And Cable Imports

Imports into the Dominican Republic

After two years of decline, supplies from abroad of insulated wire and cable increased by X% to X tons in 2022. Overall, total imports indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, wire and cable imports surged to $X in 2022. In general, imports recorded a buoyant expansion. The pace of growth appeared the most rapid in 2021 with an increase of X%. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

China (X tons), Costa Rica (X tons) and Spain (X tons) were the main suppliers of wire and cable imports to the Dominican Republic, with a combined X% share of total imports. The United States, Mexico, South Korea, Trinidad and Tobago and Brazil lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wire and cable suppliers to the Dominican Republic were Costa Rica ($X), the United States ($X) and Spain ($X), together comprising X% of total imports.

Costa Rica, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average wire and cable import price amounted to $X per ton, shrinking by X% against the previous year. In general, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wire and cable import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton, and then reduced notably in the following year.

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 the United States ($X per ton), while the price for Trinidad and Tobago ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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