Dominican Republic: Market for Iron and Steel Wire 2024

Market Size for Iron and Steel Wire in the Dominican Republic

In 2022, after seven years of growth, there was significant decline in the Dominican iron and steel wire market, when its value decreased by X% to $X. Overall, consumption showed a prominent increase. Iron and steel wire consumption peaked at $X in 2021, and then reduced in the following year.

Production of Iron and Steel Wire in the Dominican Republic

In value terms, iron and steel wire production declined markedly to $X in 2022 estimated in export price. Over the period under review, production showed a remarkable increase. The growth pace was the most rapid in 2021 when the production volume increased by X%. As a result, production attained the peak level of $X, and then dropped markedly in the following year.

Exports of Iron and Steel Wire

Exports from the Dominican Republic

Iron and steel wire exports from the Dominican Republic fell remarkably to X tons in 2022, waning by X% against the previous year. Over the period under review, exports faced a dramatic contraction. The pace of growth was the most pronounced in 2021 with an increase of X%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, iron and steel wire exports declined remarkably to $X in 2022. Overall, exports recorded a abrupt slump. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Haiti (X tons) and the United States (X tons) were the main destinations of iron and steel wire exports from the Dominican Republic.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of X%).

In value terms, the largest markets for iron and steel wire exported from the Dominican Republic were Haiti ($X) and the United States ($X).

In terms of the main countries of destination, the United States, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The average iron and steel wire export price stood at $X per ton in 2022, increasing by X% against the previous year. In general, export price indicated a resilient increase 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, iron and steel wire export price increased by X% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Haiti stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Haiti (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Iron and Steel Wire

Imports into the Dominican Republic

Iron and steel wire imports into the Dominican Republic stood at X tons in 2022, surging by X% compared with the previous year's figure. Over the period under review, imports saw a prominent expansion. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, iron and steel wire imports stood at $X in 2022. Overall, imports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest iron and steel wire supplier to the Dominican Republic, with a X% share of total imports. Moreover, iron and steel wire imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), fourfold. El Salvador (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and El Salvador (X% per year).

In value terms, China ($X) constituted the largest supplier of iron and steel wire to the Dominican Republic, comprising X% of total imports. The second position in the ranking was held by El Salvador ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: El Salvador (X% per year) and the United States (X% per year).

Import Prices by Country

The average iron and steel wire import price stood at $X per ton in 2022, shrinking by X% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2021, and then declined modestly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :