Dominican Republic: Men Knitwear Market 2024

Men Knitwear Market Size in the Dominican Republic

In 2022, the Dominican men knitwear market increased by X% to $X, rising for the fourth consecutive year after two years of decline. Overall, consumption saw a buoyant increase. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Men Knitwear Production in the Dominican Republic

In value terms, men knitwear production rose to $X in 2022 estimated in export price. In general, the total production indicated strong growth from 2012 to 2022: its value 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Men Knitwear Exports

Exports from the Dominican Republic

After three years of decline, overseas shipments of men's or boys' clothing (knitted or crocheted) increased by X% to X units in 2022. In general, exports recorded a relatively flat trend pattern. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, men knitwear exports surged to $X in 2022. Over the period under review, exports, however, recorded a drastic downturn. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for men knitwear exports from the Dominican Republic, with a X% share of total exports. It was followed by Haiti (X units), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (X% per year) and the Netherlands (X% per year).

In value terms, the United States ($X) remains the key foreign market for men's or boys' clothing (knitted or crocheted) exports from the Dominican Republic, comprising X% of total exports. The second position in the ranking was taken by Haiti ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (X% per year) and the Netherlands (X% per year).

Export Prices by Country

In 2022, the average men knitwear export price amounted to $X per unit, with an increase of X% against the previous year. In general, the export price, however, showed a abrupt contraction. Over the period under review, the average export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Haiti ($X per unit) was amongst the lowest.

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

Men Knitwear Imports

Imports into the Dominican Republic

For the third consecutive year, the Dominican Republic recorded growth in overseas purchases of men's or boys' clothing (knitted or crocheted), which increased by X% to X units in 2022. In general, imports saw a significant expansion. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, men knitwear imports soared to $X in 2022. Over the period under review, imports continue to indicate buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest men knitwear supplier to the Dominican Republic, accounting for a X% share of total imports. Moreover, men knitwear imports from China exceeded the figures recorded by the second-largest supplier, Panama (X units), more than tenfold. The United States (X units) 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 stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (X% per year) and the United States (X% per year).

In value terms, China ($X) constituted the largest supplier of men's or boys' clothing (knitted or crocheted) to the Dominican Republic, comprising X% of total imports. The second position in the ranking was taken by Panama ($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 stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (X% per year) and the United States (X% per year).

Import Prices by Country

The average men knitwear import price stood at $X per unit in 2022, surging by X% against the previous year. Over the period under review, the import price, however, faced a precipitous curtailment. Over the period under review, average import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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