Dominican Republic: Electric Sound Amplifier Market 2024

Electric Sound Amplifier Market Size in the Dominican Republic

In 2022, the Dominican electric sound amplifier market decreased by -29.7% to $X for the first time since 2017, thus ending a four-year rising trend. Overall, consumption, however, continues to indicate a tangible increase. Electric sound amplifier consumption peaked at $X in 2021, and then declined significantly in the following year.

Electric Sound Amplifier Exports

Exports from the Dominican Republic

For the fifth year in a row, the Dominican Republic recorded decline in shipments abroad of electric sound amplifier sets, which decreased by -27.9% to X units in 2022. Overall, exports saw a drastic downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 810% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, electric sound amplifier exports surged to $X in 2022. Over the period under review, exports showed a precipitous curtailment. The pace of growth was the most pronounced in 2017 with an increase of 752% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Mexico (X units), Cuba (X units) and British Virgin Islands (X units) were the main destinations of electric sound amplifier exports from the Dominican Republic, together comprising 78% of total exports. Moreover, electric sound amplifier exports in Mexico exceeded the figures recorded by the second-largest exporter, Cuba, twofold.

From 2012 to 2022, the biggest increases were recorded for British Virgin Islands (with a CAGR of +1,500.0%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for electric sound amplifier exported from the Dominican Republic were the United States ($X), Mexico ($X) and Cuba ($X), with a combined 93% share of total exports. Haiti and British Virgin Islands lagged somewhat behind, together comprising a further 7.4%.

British Virgin Islands, with a CAGR of +10,133.3%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average electric sound amplifier export price amounted to $X per unit, jumping by 67% against the previous year. In general, the export price, however, saw a perceptible slump. Over the period under review, the average export prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to British Virgin Islands ($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 British Virgin Islands (+539.6%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Sound Amplifier Imports

Imports into the Dominican Republic

In 2022, after three years of growth, there was significant decline in overseas purchases of electric sound amplifier sets, when their volume decreased by -37% to X units. Overall, imports, however, showed a buoyant increase. The pace of growth was the most pronounced in 2016 with an increase of 101%. Over the period under review, imports attained the maximum at X units in 2021, and then dropped dramatically in the following year.

In value terms, electric sound amplifier imports shrank to $X in 2022. In general, imports recorded a mild downturn. The growth pace was the most rapid in 2021 when imports increased by 94%. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) was the main supplier of electric sound amplifier to the Dominican Republic, accounting for a 91% share of total imports. Moreover, electric sound amplifier 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 Italy (X units), with a 2.4% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +21.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-0.4% per year) and Italy (+19.6% per year).

In value terms, China ($X) constituted the largest supplier of electric sound amplifier sets to the Dominican Republic, comprising 79% of total imports. The second position in the ranking was taken by the United States ($X), with a 9.1% share of total imports. It was followed by Italy, with a 1.5% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-10.1% per year) and Italy (+5.3% per year).

Import Prices by Country

The average electric sound amplifier import price stood at $X per unit in 2022, picking up by 43% against the previous year. In general, the import price, however, saw a abrupt shrinkage. The import price peaked at $X per unit in 2013; however, from 2014 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 ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+4.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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