Report Update Apr 1, 2024

Dominican Republic - Iron and Steel - Market Analysis, Forecast, Size, Trends and Insights

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Dominican Republic: Iron And Steel Market 2024

Iron And Steel Market Size in the Dominican Republic

The Dominican iron and steel market fell to $X in 2021, which is down by -9.9% 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 faced a significant contraction. The pace of growth appeared the most rapid in 2014 with a decrease of -3.4%. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Iron And Steel Exports

Exports from the Dominican Republic

In 2018, shipments abroad of iron and steel increased by 3.3% to X kg for the first time since 2014, thus ending a three-year declining trend. Overall, exports, however, showed a sharp reduction. The exports peaked at X tons in 2014; however, from 2015 to 2018, the exports stood at a somewhat lower figure.

In value terms, iron and steel exports contracted sharply to $X in 2018. Over the period under review, exports, however, recorded a significant curtailment. The pace of growth appeared the most rapid in 2016 when exports increased by 1,213%. The exports peaked at $X in 2014; however, from 2015 to 2018, the exports stood at a somewhat lower figure.

Exports by Country

France (X kg) was the main destination for iron and steel exports from the Dominican Republic, accounting for a approx. 100% share of total exports.

From 2014 to 2018, the average annual rate of growth in terms of volume to France was relatively modest.

From 2014 to 2018, the average annual rate of growth in terms of value to France was relatively modest.

Export Prices by Country

In 2018, the average iron and steel export price amounted to $X per ton, with a decrease of -22.6% against the previous year. Overall, the export price continues to indicate a abrupt decline. The pace of growth was the most pronounced in 2016 an increase of 3,182% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2018, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for France.

From 2014 to 2018, the rate of growth in terms of prices for Haiti amounted to -10.9% per year.

Iron And Steel Imports

Imports into the Dominican Republic

For the ninth year in a row, the Dominican Republic recorded decline in overseas purchases of iron and steel, which decreased by -4% to X tons in 2021. Over the period under review, imports saw a precipitous curtailment. The smallest decline of -1.7% was in 2013. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, iron and steel imports contracted to $X in 2021. Overall, imports faced a dramatic curtailment. The pace of growth appeared the most rapid in 2014 when imports increased by 21% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Trinidad and Tobago (X tons) constituted the largest supplier of iron and steel to the Dominican Republic, with a 72% share of total imports. Moreover, iron and steel imports from Trinidad and Tobago exceeded the figures recorded by the second-largest supplier, Brazil (X tons), fourfold. The third position in this ranking was held by Russia (X tons), with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Trinidad and Tobago stood at -35.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-41.6% per year) and Russia (-59.4% per year).

In value terms, Trinidad and Tobago ($X), Brazil ($X) and Russia ($X) were the largest iron and steel suppliers to the Dominican Republic, together accounting for 85% of total imports.

Brazil, with a CAGR of -32.9%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average iron and steel import price stood at $X per ton in 2021, falling by -9.4% against the previous year. Overall, the import price, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2014 when the average import price increased by 62%. Over the period under review, average import prices reached the maximum at $X per ton in 2019; however, from 2020 to 2021, 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 Mexico ($X per ton), while the price for Trinidad and Tobago ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+18.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for iron and steel in the world?

China remains the largest iron and steel consuming country worldwide, accounting for 64% of total volume. Moreover, iron and steel consumption in China exceeded the figures recorded by the second-largest consumer, Japan, more than tenfold. The third position in this ranking was held by India, with a 5.8% share.

What are the largest producers of iron and steel in the world?

China constituted the country with the largest volume of iron and steel production, comprising approx. 63% of total volume. Moreover, iron and steel production in China exceeded the figures recorded by the second-largest producer, India, more than tenfold. The third position in this ranking was held by Japan, with a 5.9% share.

What are the leading suppliers of iron and steel to the Dominican Republic?

In value terms, Trinidad and Tobago, Brazil and Russia constituted the largest iron and steel suppliers to the Dominican Republic, with a combined 85% share of total imports.

What is the average export price for iron and steel in the Dominican Republic?

In 2018, the average iron and steel export price amounted to $8,903 per ton, falling by -22.6% against the previous year.

What is the average import price for iron and steel in the Dominican Republic?

The average iron and steel import price stood at $1,085 per ton in 2021, waning by -9.4% against the previous year.

This report provides an in-depth analysis of the iron and steel 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.

Product coverage:

Country coverage:

Dominican Republic

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Dominican Republic
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023