From January to October 2021, the bilateral import and export volume of goods between China and the Dominican Republic was US$3,444.66 million, an increase of US$1,258.9615 million compared with the same period in 2020, a year-on-year increase of 57.6%.
From January to October 2021, the total value of China's exports to the Dominican Republic was US$3,171,589,100, an increase of US$1,223,736,100 compared with the same period in 2020, a year-on-year increase of 63.1%; the total value of China's imports from the Dominican Republic was US$273,069,500, compared with The same period in 2020 increased by $35.2255 million, a year-on-year increase of 13.6%.
Over the past 25 years, Dominica has been one of the strongest growth countries in Latin America. From 2014 to 2016, its average annual GDP growth rate was about 7.1%. In 2017, GDP growth slowed down due to cyclical decelerations due to hurricanes and other weather and other factors, but it also reached 4.6%. Institutional analysis said that the looser monetary policy of Dominica after 2017 will support its continued economic recovery. It is expected that the country's economic growth rate will be above 5% in 2018.
Although Dominica has a small land area, it has dozens of free trade zones. A large number of export processing enterprises have been stationed in the free trade zone, mainly including textile and garment industry, medical and manufacturing industry, tobacco processing industry, and footwear industry. There are also electronic goods and electronic services, which are industries that continue to have "growth potential" in the future in Dominica. At present, the most important sources of investment in the free trade zone are the United States, Canada, the United Kingdom and Germany, etc. After the establishment of diplomatic relations between China and the Dominican Republic and the signing of a bilateral investment protection agreement, these free trade zones are also expected to welcome more Chinese enterprises.
Dongqi Crane currently has no crane business in Dominican Republic, but as a global crane supplier based in China, it is looking forward to the day when it will open up the Dominican crane market. This article will analyze the development direction of the Dominican crane market in 2022 from the size and trend of the Dominican overhead crane market.
Before we start discussing the aerial crane market in Dominica, we have a few small questions that need to be answered first. Let’s take a look
The Dominican Overhead Crane Market contracted significantly to $X in 2020, down -X% compared to the previous year. Overall, consumption continued to show a relatively flat trend pattern. In 2009, the growth rate was the fastest, with an increase of X% year-on-year. Consumption of overhead cranes peaked at $X in 2011; however, from 2012 to 2020, consumption failed to regain momentum.
In value terms, the production of overhead cranes in 2020 is estimated to have dropped significantly to $X at export prices. Overall, production showed a relatively stable trend pattern. The growth rate was most pronounced in 2009, with an X% increase over the previous year. During the period under review, production peaked at $X in 2011; however, from 2012 to 2020, production failed to regain momentum.
In 2020, overseas shipments of fixed-support overhead cranes finally picked up, reaching X units for the first time since 2015, ending a four-year downward trend. In general, however, there has been a sudden drop in exports. During the period under review, exports reached a maximum of X units in 2007; however, from 2008 to 2020, export figures were slightly lower.
Overhead crane exports surged to $X in 2020 by value. But overall, exports face a sharp contraction. During the period under review, exports hit an all-time high of $X in 2007; however, from 2008 to 2020, exports failed to regain momentum.
Haiti (X units) was the main destination for the export of overhead cranes from the Dominican Republic, accounting for about X% of the total export value.
From 2007 to 2020, the average annual growth rate of shipments to Haiti was -X%.
In terms of value, Haiti ($X) remains the main foreign market for Dominican Republic bridge crane exports.
From 2007 to 2020, the value to Haiti has grown at an average annual rate of -X%.
In 2020, the Dominican Republic's imports of overhead cranes decreased significantly to X units, a -X% decrease compared to 2019. But overall, imports continued to show marked growth. The fastest growth was in 2013, with imports increasing by X% year-on-year. During the period under review, imports in 2017 hit a record high of X units; however, from 2018 to 2020, imports failed to regain momentum. In value terms, 2020 overhead crane imports fell significantly to $X. But overall, imports have increased significantly. The most significant growth rate occurred in 2013, with an X% year-on-year increase. During the period under review, imports peaked at $X in 2017; however, from 2018 to 2020, imports failed to regain momentum.
China (X units), Spain (X units) and the United States (X units) are the main suppliers of overhead cranes imported to the Dominican Republic.
From 2007 to 2020, the largest increase was in China, while other leaders saw more modest growth in purchases.
China ($X), Spain ($X) and the United States ($X) are the largest overhead crane suppliers in the Dominican Republic by value. During the period under review, China experienced the highest growth in the value of imports among the major suppliers, while other leaders saw more modest growth in purchases.
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