Dominican Republic: Multiple Loudspeakers Market 2024

Multiple Loudspeakers Market Size in the Dominican Republic

The Dominican multiple loudspeakers market shrank to $X in 2021, waning by -14.4% 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, however, recorded a strong increase. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Multiple Loudspeakers Exports

Exports from the Dominican Republic

In 2021, overseas shipments of multiple loudspeakers (in enclosure) increased by 310% to X units, rising for the second year in a row after three years of decline. Overall, exports saw a strong expansion. The pace of growth appeared the most rapid in 2016 with an increase of 480% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in the near future.

In value terms, multiple loudspeakers exports skyrocketed to $X in 2021. In general, exports posted strong growth. The pace of growth appeared the most rapid in 2014 with an increase of 465% against the previous year. The exports peaked in 2021 and are likely to continue growth in years to come.

Exports by Country

Costa Rica (X units), Guatemala (X units) and Cuba (X units) were the main destinations of multiple loudspeakers exports from the Dominican Republic, with a combined 80% 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 Guatemala (with a CAGR of +246.4%), while the other leaders experienced more modest paces of growth.

In value terms, Cuba ($X) remains the key foreign market for multiple loudspeakers (in enclosure) exports from the Dominican Republic, comprising 78% of total exports. The second position in the ranking was held by Haiti ($X), with a 4.8% share of total exports. It was followed by Guatemala, with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Cuba stood at +15.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (+44.4% per year) and Guatemala (+63.1% per year).

Export Prices by Country

In 2021, the average multiple loudspeakers export price amounted to $X per unit, declining by -10.8% against the previous year. Over the period under review, the export price, however, enjoyed a pronounced expansion. The pace of growth appeared the most rapid in 2017 when the average export price increased by 77%. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Cuba ($X per unit), while the average price for exports to Costa Rica ($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 Venezuela (+27.4%), while the prices for the other major destinations experienced more modest paces of growth.

Multiple Loudspeakers Imports

Imports into the Dominican Republic

In 2021, purchases abroad of multiple loudspeakers (in enclosure) decreased by -29% to X units for the first time since 2018, thus ending a two-year rising trend. Overall, imports, however, recorded a prominent increase. The growth pace was the most rapid in 2019 when imports increased by 145% against the previous year. Over the period under review, imports attained the maximum at X units in 2020, and then contracted dramatically in the following year.

In value terms, multiple loudspeakers imports shrank slightly to $X in 2021. In general, imports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2019 with an increase of 119% 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 units) constituted the largest multiple loudspeakers supplier to the Dominican Republic, accounting for a 80% share of total imports. Moreover, multiple loudspeakers imports from China exceeded the figures recorded by the second-largest supplier, Panama (X units), more than tenfold. Malaysia (X units) ranked third in terms of total imports with a 2.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (+12.4% per year) and Malaysia (+12.2% per year).

In value terms, China ($X), Panama ($X) and the United States ($X) were the largest multiple loudspeakers suppliers to the Dominican Republic, with a combined 71% share of total imports. Hong Kong SAR and Malaysia lagged somewhat behind, together accounting for a further 4.9%.

Hong Kong SAR, with a CAGR of +40.6%, saw the highest rates of growth with regard to 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 2021, the average multiple loudspeakers import price amounted to $X per unit, surging by 34% against the previous year. In general, the import price enjoyed a strong expansion. The most prominent rate of growth was recorded in 2014 when the average import price increased by 86%. The import price peaked at $X per unit in 2018; however, from 2019 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 Panama ($X per unit), while the price for Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+26.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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