Dominican Republic: Interchangeable Tool Market 2024

Interchangeable Tool Market Size in the Dominican Republic

In 2022, the Dominican interchangeable tool market increased by X% to $X, rising for the seventh consecutive year after two years of decline. In general, consumption continues to indicate a resilient expansion. Interchangeable tool consumption peaked in 2022 and is expected to retain growth in years to come.

Interchangeable Tool Production in the Dominican Republic

In value terms, interchangeable tool production amounted to $X in 2022 estimated in export price. In general, production saw a buoyant expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Interchangeable Tool Exports

Exports from the Dominican Republic

In 2022, overseas shipments of interchangeable tools for hand tools increased by X% to X tons, rising for the second consecutive year after three years of decline. Overall, exports continue to indicate a strong increase. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, interchangeable tool exports plummeted to $X in 2022. In general, exports recorded strong growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Jamaica (X tons) was the main destination for interchangeable tool exports from the Dominican Republic, accounting for a X% share of total exports. Moreover, interchangeable tool exports to Jamaica exceeded the volume sent to the second major destination, the United States (X tons), fivefold. Peru (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Jamaica 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 Peru (X% per year).

In value terms, the largest markets for interchangeable tool exported from the Dominican Republic were the United States ($X), Jamaica ($X) and Haiti ($X), with a combined X% share of total exports.

Jamaica, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average interchangeable tool export price stood at $X per ton in 2022, which is down by X% against the previous year. Over the period under review, the export price, however, enjoyed temperate growth. The most prominent rate of growth was recorded in 2016 when the average export price increased by X%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

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 the United States ($X per ton), while the average price for exports to Peru ($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 Haiti (X%), while the prices for the other major destinations experienced mixed trend patterns.

Interchangeable Tool Imports

Imports into the Dominican Republic

Interchangeable tool imports into the Dominican Republic reduced to X tons in 2022, waning by X% against the previous year's figure. Overall, imports, however, showed strong growth. The growth pace was the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of X tons, and then reduced in the following year.

In value terms, interchangeable tool imports totaled $X in 2022. In general, imports, however, enjoyed buoyant growth. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Mexico (X tons) and the United States (X tons) were the main suppliers of interchangeable tool imports to the Dominican Republic, together accounting for X% of total imports. Spain, Germany, Sweden and Brazil lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Mexico ($X) were the largest interchangeable tool suppliers to the Dominican Republic, together comprising X% of total imports. Sweden, Germany, Spain and Brazil lagged somewhat behind, together accounting for a further X%.

Sweden, with a CAGR of X%, saw 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

The average interchangeable tool import price stood at $X per ton in 2022, rising by X% against the previous year. Overall, the import price, however, continues to indicate a pronounced reduction. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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 Sweden ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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