Seals; Mechanical Price in the Dominican Republic - 2023

Seals; Mechanical Price in the Dominican Republic (CIF) - 2022

In 2022, the average seals; mechanical import price amounted to $2.7 per unit, declining by -10.8% against the previous year. Overall, the import price showed a abrupt setback. The most prominent rate of growth was recorded in 2019 when the average import price increased by 45% against the previous year. Over the period under review, average import prices reached the peak figure at $5.3 per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 Germany ($10 per unit), while the price for Mexico ($1.4 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+6.9%), while the prices for the other major suppliers experienced a decline.

Seals; Mechanical Price in the Dominican Republic (FOB) - 2022

The average seals; mechanical export price stood at $1.4 per unit in December 2022, waning by -72% against the previous month. In general, the export price showed a deep downturn. As a result, the export price reached the peak level of $7.9 per unit. From January 2022 to December 2022, the the average export prices failed to regain momentum.

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

From December 2021 to December 2022, the rate of growth in terms of prices for the United States amounted to -13.7% per month.

Seals; Mechanical Imports in the Dominican Republic

Seals; mechanical imports into the Dominican Republic expanded modestly to 474K units in 2022, picking up by 1.5% compared with 2021 figures. Over the period under review, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 69% against the previous year. Imports peaked at 480K units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, seals; mechanical imports dropped to $1.3M in 2022. In general, imports, however, showed a deep contraction. The pace of growth was the most pronounced in 2021 with an increase of 70%. Imports peaked at $1.7M in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Import of Seals; Mechanical in the Dominican Republic (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	121	105	91.3	443	54.1%
United States	1,347	390	1,042	438	-31.2%
Germany	38.0	78.7	41.2	78.6	27.4%
Spain	36.8	33.6	35.8	71.0	24.5%
Colombia	27.2	19.3	38.6	40.3	14.0%
Mexico	22.9	42.0	15.3	36.6	16.9%
Others	147	177	175	196	10.1%
Total	1,739	846	1,439	1,303	-9.2%

Top Suppliers of Seals; Mechanical to the Dominican Republic in 2022:

United States (244.3K units)
China (136.2K units)
Mexico (26.1K units)
Spain (21.2K units)
Colombia (13.1K units)
Germany (7.7K units)

Seals; Mechanical Exports in the Dominican Republic

In 2022, shipments abroad of seals; mechanicals decreased by -25.7% to 181K units for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, continue to indicate a resilient expansion. The growth pace was the most rapid in 2021 with an increase of 66%. As a result, the exports attained the peak of 243K units, and then declined significantly in the following year.

In value terms, seals; mechanical exports declined significantly to $370K in 2022. Overall, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 91%. As a result, the exports reached the peak of $441K, and then dropped dramatically in the following year.