
Dominican Republic - Woven Fabrics of Silk or of Silk Waste - Market Analysis, Forecast, Size, Trends and Insights
Dominican Republic: Silk Fabric Market 2023
Silk Fabric Market Size in the Dominican Republic
The Dominican silk fabric market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption recorded a significant increase. Silk fabric consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.
Silk Fabric Exports
Exports from the Dominican Republic
In 2021, overseas shipments of woven fabrics of silk or of silk waste decreased by -4.3% to X square meters, falling for the third consecutive year after four years of growth. Overall, exports saw a abrupt downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 89%. As a result, the exports attained the peak of X square meters. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.
In value terms, silk fabric exports stood at $X in 2021. Over the period under review, exports showed a noticeable decline. The pace of growth was the most pronounced in 2018 when exports increased by 104% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.
Exports by Country
The United States (X square meters) was the main destination for silk fabric exports from the Dominican Republic, with a approx. 100% share of total exports.
From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at -6.4%.
In value terms, the United States ($X) also remains the key foreign market for woven fabrics of silk or of silk waste exports from the Dominican Republic.
From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to -1.2%.
Export Prices by Country
In 2021, the average silk fabric export price amounted to $X per square meter, rising by 4.5% against the previous year. Over the last nine-year period, it increased at an average annual rate of +5.6%. The most prominent rate of growth was recorded in 2013 an increase of 55% against the previous year. The export price peaked at $X per square meter in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for the United States.
From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to +5.5% per year.
Silk Fabric Imports
Imports into the Dominican Republic
After two years of decline, purchases abroad of woven fabrics of silk or of silk waste increased by 73% to X square meters in 2021. In general, imports showed significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 1,271%. Over the period under review, imports reached the maximum at X square meters in 2018; however, from 2019 to 2021, imports remained at a lower figure.
In value terms, silk fabric imports skyrocketed to $X in 2021. Overall, imports posted a significant expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 759%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.
Imports by Country
In 2021, South Korea (X square meters) constituted the largest silk fabric supplier to the Dominican Republic, with a 85% share of total imports. Moreover, silk fabric imports from South Korea exceeded the figures recorded by the second-largest supplier, India (X square meters), more than tenfold. The third position in this ranking was held by the United States (X square meters), with a 3.1% share.
From 2012 to 2021, the average annual rate of growth in terms of volume from South Korea totaled +32.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+47.8% per year) and the United States (+16.2% per year).
In value terms, South Korea ($X) constituted the largest supplier of woven fabrics of silk or of silk waste to the Dominican Republic, comprising 95% of total imports. The second position in the ranking was taken by the United States ($X), with a 1.1% share of total imports. It was followed by China, with a 0.6% share.
From 2012 to 2021, the average annual growth rate of value from South Korea stood at +29.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+10.9% per year) and China (-9.0% per year).
Import Prices by Country
The average silk fabric import price stood at $X per square meter in 2021, falling by -3.9% against the previous year. Over the period under review, the import price saw a slight downturn. The pace of growth was the most pronounced in 2020 when the average import price increased by 105%. The import price peaked at $X per square meter in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per square meter), while the price for India ($X per square meter) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (-1.9%), while the prices for the other major suppliers experienced a decline.
Source: IndexBox Platform
Base Year | Historical Period | Forecast Period | Units |
---|---|---|---|
2022 | 2012-2022 | 2023-2030 | US$, Tons |
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the silk fabric market in the Dominican Republic. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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