Dominican Republic: Market for Natural Rubber And Gums 2024

Market Size for Natural Rubber And Gums in the Dominican Republic

In 2022, the Dominican natural rubber and gum market was finally on the rise to reach $X after four years of decline. Over the period under review, consumption, however, saw a abrupt contraction. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Production of Natural Rubber And Gums in the Dominican Republic

In value terms, natural rubber and gum production rose notably to $X in 2022 estimated in export price. Over the period under review, production saw a abrupt shrinkage. The pace of growth was the most pronounced in 2014 with an increase of X%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

In 2022, the average yield of natural rubber and gums in the Dominican Republic declined modestly to X tons per ha, remaining stable against the previous year's figure. Over the period under review, the yield, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, the yield reached the peak level of X tons per ha. From 2014 to 2022, the growth of the average natural rubber and gum yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The natural rubber and gum harvested area in the Dominican Republic stood at X ha in 2022, standing approx. at the previous year's figure. In general, the harvested area showed a slight decline. The most prominent rate of growth was recorded in 2014 with an increase of X%. The natural rubber and gum harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

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Exports of Natural Rubber And Gums

Exports from the Dominican Republic

In 2019, after two years of decline, there was significant decline in shipments abroad of natural rubber and gums, when their volume decreased by X% to X kg. Overall, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2019, the exports remained at a lower figure.

In value terms, natural rubber and gum exports dropped rapidly to $X in 2019. Over the period under review, exports, however, showed a buoyant expansion. The pace of growth was the most pronounced in 2015 with an increase of X%. The exports peaked at $X in 2016; however, from 2017 to 2019, the exports remained at a lower figure.

Exports by Country

The United States (X kg) was the main destination for natural rubber and gum exports from the Dominican Republic, with a X% share of total exports. Moreover, natural rubber and gum exports to the United States exceeded the volume sent to the second major destination, Panama (X kg), sevenfold.

From 2014 to 2019, the average annual growth rate of volume to the United States totaled X%.

In value terms, the largest markets for natural rubber and gum exported from the Dominican Republic were the United States ($X) and Panama ($X).

Panama, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average natural rubber and gum export price stood at $X per ton in 2019, rising by X% against the previous year. Over the period under review, the export price, however, showed a precipitous curtailment. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2019, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2019, amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to the United States amounted to $X per ton.

From 2014 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%).

Imports of Natural Rubber And Gums

Imports into the Dominican Republic

In 2022, supplies from abroad of natural rubber and gums increased by X% to X tons, rising for the second year in a row after three years of decline. Overall, imports, however, saw a drastic downturn. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, natural rubber and gum imports skyrocketed to $X in 2022. Over the period under review, imports, however, showed a noticeable decline. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Guatemala (X tons), the United States (X tons) and Brazil (X tons) were the main suppliers of natural rubber and gum imports to the Dominican Republic, together comprising X% of total imports.

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

In value terms, the largest natural rubber and gum suppliers to the Dominican Republic were the United States ($X), Guatemala ($X) and Brazil ($X), together comprising X% of total imports.

Brazil, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 natural rubber and gum import price stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, import price indicated buoyant growth 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, natural rubber and gum import price increased by X% against 2017 indices. The growth pace was the most rapid in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for Guatemala ($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 more modest paces of growth.

Source: IndexBox Platform

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