Dominican Republic: Knotted Carpet Market 2024

Knotted Carpet Market Size in the Dominican Republic

The Dominican knotted carpet market expanded markedly to $X in 2022, surging by 10% 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 showed a temperate expansion. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Knotted Carpet Exports

Exports from the Dominican Republic

In 2022, the amount of knotted carpets and other knotted textile floor coverings exported from the Dominican Republic surged to X square meters, rising by 28% against 2021. Overall, exports recorded a significant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 4,033% against the previous year. As a result, the exports attained the peak of X square meters. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, knotted carpet exports declined rapidly to $X in 2022. Over the period under review, exports posted buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of 2,166% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Canada (X square meters), Argentina (X square meters) and Mexico (X square meters) were the main destinations of knotted carpet exports from the Dominican Republic, together comprising 38% of total exports. The United States, Costa Rica, Haiti, South Korea, Colombia, Honduras, Cuba, Panama, the Netherlands and Bolivia lagged somewhat behind, together accounting for a further 53%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Costa Rica (with a CAGR of +71.0%), while the other leaders experienced more modest paces of growth.

In value terms, Haiti ($X) remains the key foreign market for knotted carpets and other knotted textile floor coverings exports from the Dominican Republic, comprising 49% of total exports. The second position in the ranking was taken by the United States ($X), with a 16% share of total exports. It was followed by Canada, with a 6.1% share.

From 2012 to 2022, the average annual growth rate of value to Haiti amounted to +14.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+44.6% per year) and Canada (0.0% per year).

Export Prices by Country

In 2022, the average knotted carpet export price amounted to $X per square meter, shrinking by -65.3% against the previous year. Overall, the export price recorded a noticeable downturn. The growth pace was the most rapid in 2021 when the average export price increased by 567% against the previous year. The export price peaked at $X per square meter in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Haiti ($X per square meter), while the average price for exports to Canada ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Costa Rica (+115.4%), while the prices for the other major destinations experienced more modest paces of growth.

Knotted Carpet Imports

Imports into the Dominican Republic

Knotted carpet imports into the Dominican Republic rose notably to X square meters in 2022, increasing by 12% compared with the previous year's figure. In general, imports posted a measured expansion. The most prominent rate of growth was recorded in 2014 with an increase of 483%. Imports peaked at X square meters in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, knotted carpet imports expanded rapidly to $X in 2022. Over the period under review, imports showed a buoyant increase. The pace of growth was the most pronounced in 2014 when imports increased by 365% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

India (X square meters), China (X square meters) and Italy (X square meters) were the main suppliers of knotted carpet imports to the Dominican Republic, together comprising 86% of total imports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +50.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of knotted carpets and other knotted textile floor coverings to the Dominican Republic, comprising 39% of total imports. The second position in the ranking was held by China ($X), with a 19% share of total imports. It was followed by India, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Italy totaled +49.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+14.4% per year) and India (+35.9% per year).

Import Prices by Country

In 2022, the average knotted carpet import price amounted to $X per square meter, reducing by -5.8% against the previous year. In general, the import price, however, showed a modest expansion. The most prominent rate of growth was recorded in 2019 an increase of 143% against the previous year. As a result, import price reached the peak level of $X per square meter. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per square meter), while the price for Brazil ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+25.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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