Dominican Republic: Other Chemical Products Market 2024

Other Chemical Products Market Size in the Dominican Republic

After four years of decline, the Dominican other chemical products market increased by X% to $X in 2023. In general, consumption, however, showed a drastic downturn. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2023, consumption stood at a somewhat lower figure.

Other Chemical Products Exports

Exports from the Dominican Republic

In 2023, shipments abroad of other chemical products was finally on the rise to reach X tons after two years of decline. Overall, exports, however, saw a deep setback. The pace of growth appeared the most rapid in 2017 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2023, the exports failed to regain momentum.

In value terms, other chemical products exports expanded significantly to $X in 2023. Over the period under review, exports, however, recorded a precipitous decrease. The exports peaked at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

Barbados (X tons) was the main destination for other chemical products exports from the Dominican Republic, with a X% share of total exports. Moreover, other chemical products exports to Barbados exceeded the volume sent to the second major destination, Guatemala (X tons), twofold. The third position in this ranking was held by Saint Lucia (X tons), with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Barbados amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (X% per year) and Saint Lucia (X% per year).

In value terms, Barbados ($X), Colombia ($X) and Saint Lucia ($X) constituted the largest markets for other chemical products exported from the Dominican Republic worldwide, with a combined X% share of total exports.

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

Export Prices by Country

In 2023, the average other chemical products export price amounted to $X per ton, with an increase of X% against the previous year. In general, the export price, however, saw a mild downturn. The pace of growth was the most pronounced in 2016 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2023, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Haiti ($X per ton), while the average price for exports to Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Other Chemical Products Imports

Imports into the Dominican Republic

In 2023, overseas purchases of other chemical products were finally on the rise to reach X tons after four years of decline. Overall, imports, however, recorded a significant contraction. The growth pace was the most rapid in 2014 with an increase of X%. Imports peaked at X tons in 2015; however, from 2016 to 2023, imports remained at a lower figure.

In value terms, other chemical products imports totaled $X in 2023. Over the period under review, imports, however, faced a abrupt contraction. The pace of growth was the most pronounced in 2014 with an increase of X%. Imports peaked at $X in 2015; however, from 2016 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, the United States (X tons) constituted the largest supplier of other chemical products to the Dominican Republic, with a X% share of total imports. Moreover, other chemical products imports from the United States exceeded the figures recorded by the second-largest supplier, Colombia (X tons), twofold. The third position in this ranking was held by Spain (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (X% per year) and Spain (X% per year).

In value terms, the United States ($X) constituted the largest supplier of other chemical products to the Dominican Republic, comprising X% of total imports. The second position in the ranking was taken by Mexico ($X), with an X% share of total imports. It was followed by Denmark, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (X% per year) and Denmark (X% per year).

Import Prices by Country

In 2023, the average other chemical products import price amounted to $X per ton, waning by X% against the previous year. Over the period under review, the import price, however, saw a buoyant expansion. The growth pace was the most rapid in 2020 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2022, and then fell slightly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was China ($X per ton), while the price for Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform