Dominican Republic: Power Tool Market 2024

Power Tool Market Size in the Dominican Republic

In 2022, after four years of growth, there was significant decline in the Dominican power tool market, when its value decreased by X% to $X. In general, consumption, however, showed strong growth. Power tool consumption peaked at $X in 2021, and then fell in the following year.

Power Tool Exports

Exports from the Dominican Republic

In 2023, the amount of power tools exported from the Dominican Republic stood at X units, with an increase of X% compared with the year before. Over the period under review, exports posted a resilient expansion. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X units in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, power tool exports rose remarkably to $X in 2023. In general, exports saw a buoyant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

Exports by Country

The United States (X units), Guatemala (X units) and Antigua and Barbuda (X units) were the main destinations of power tool exports from the Dominican Republic, with a combined X% share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guatemala (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Guatemala ($X), the United States ($X) and Antigua and Barbuda ($X) were the largest markets for power tool exported from the Dominican Republic worldwide, together accounting for X% of total exports.

In terms of the main countries of destination, Guatemala, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average power tool export price amounted to $X per unit, standing approx. at the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2020; however, from 2021 to 2023, the export prices remained at a lower figure.

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 Jamaica ($X per unit), while the average price for exports to Cuba ($X per unit) was amongst the lowest.

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

Power Tool Imports

Imports into the Dominican Republic

In 2023, approx. X units of power tools were imported into the Dominican Republic; waning by X% on the year before. In general, imports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Over the period under review, imports reached the peak figure at X units in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, power tool imports skyrocketed to $X in 2023. Overall, imports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of X%. Imports peaked in 2023 and are expected to retain growth in the near future.

Imports by Country

In 2023, China (X units) constituted the largest power tool supplier to the Dominican Republic, with a X% share of total imports. Moreover, power tool imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. The third position in this ranking was held by Mexico (X units), with a X% share.

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

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

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

Import Prices by Country

In 2023, the average power tool import price amounted to $X per unit, increasing by X% against the previous year. Overall, the import price, however, recorded a slight descent. Over the period under review, average import prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2023, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform