Costa Rica: Bearing Market 2024

Bearing Market Size in Costa Rica

The Costa Rican bearing market contracted to $X in 2022, shrinking by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a mild downturn. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Bearing Exports

Exports from Costa Rica

Bearing exports from Costa Rica skyrocketed to X tons in 2022, rising by X% on the previous year. Over the period under review, exports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, bearing exports surged to $X in 2022. Overall, total exports indicated buoyant 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, exports decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Panama (X tons), the United States (X tons) and Nicaragua (X tons) were the main destinations of bearing exports from Costa Rica, together accounting for X% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Panama (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for bearing exported from Costa Rica were Panama ($X), the United States ($X) and Guatemala ($X), with a combined X% share of total exports.

Panama, with a CAGR of X%, saw the highest growth rate of the value of exports, among 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 2021, the average bearing export price amounted to $X per ton, declining by X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Honduras ($X per ton), while the average price for exports to Nicaragua ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Panama (X%), while the prices for the other major destinations experienced more modest paces of growth.

Bearing Imports

Imports into Costa Rica

In 2022, approx. X tons of ball or roller bearings were imported into Costa Rica; which is down by X% compared with the previous year. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, bearing imports contracted to $X in 2022. Over the period under review, imports saw a slight decrease. The pace of growth was the most pronounced in 2017 when imports increased by X%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The United States (X tons), China (X tons) and Japan (X tons) were the main suppliers of bearing imports to Costa Rica, with a combined X% share of total imports. Panama, Hong Kong SAR, Germany, South Korea, Belgium, Taiwan (Chinese) and Colombia lagged somewhat behind, together comprising a further X%.

From 2012 to 2021, the biggest increases were recorded for Hong Kong SAR (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Japan ($X) and China ($X) appeared to be the largest bearing suppliers to Costa Rica, together accounting for X% of total imports. Germany, Panama, Belgium, South Korea, Hong Kong SAR, Taiwan (Chinese) and Colombia lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Hong Kong SAR, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average bearing import price amounted to $X per ton, surging by X% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform