Costa Rica: Base Metal Keys Market 2024

Base Metal Keys Market Size in Costa Rica

The Costa Rican base metal keys market was finally on the rise to reach $X in 2022, after five years of decline. In general, consumption, however, saw a abrupt curtailment. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Base Metal Keys Exports

Exports from Costa Rica

Base metal keys exports from Costa Rica dropped dramatically to X kg in 2022, shrinking by -24.7% on 2021. In general, exports saw a noticeable curtailment. The pace of growth appeared the most rapid in 2019 with an increase of 233% against the previous year. As a result, the exports reached the peak of X kg. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, base metal keys exports contracted rapidly to $X in 2022. Overall, exports recorded a perceptible descent. The pace of growth appeared the most rapid in 2019 with an increase of 378%. Over the period under review, the exports reached the maximum at $X in 2021, and then declined significantly in the following year.

Exports by Country

The United States (X kg), Mexico (X kg) and Panama (X kg) were the main destinations of base metal keys exports from Costa Rica, together comprising 58% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +34.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for base metal keys exported from Costa Rica were the United States ($X), Brazil ($X) and Panama ($X), with a combined 64% share of total exports. Mexico, the Dominican Republic, the Netherlands, France, Bolivia, Kuwait, Nicaragua, Guatemala, Sweden and Germany lagged somewhat behind, together accounting for a further 27%.

Mexico, with a CAGR of +83.3%, saw 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

The average base metal keys export price stood at $X per ton in 2022, waning by -10.3% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 46%. As a result, the export price attained the peak level of $X per ton, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+48.1%), while the prices for the other major destinations experienced more modest paces of growth.

Base Metal Keys Imports

Imports into Costa Rica

In 2022, overseas purchases of base metal keys were finally on the rise to reach X tons after five years of decline. Over the period under review, imports, however, showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2016 when imports increased by 54% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, base metal keys imports skyrocketed to $X in 2022. Overall, imports, however, continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2016 with an increase of 35%. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest base metal keys supplier to Costa Rica, with a 44% share of total imports. Moreover, base metal keys imports from China exceeded the figures recorded by the second-largest supplier, Peru (X tons), twofold. Hong Kong SAR (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+1.4% per year) and Hong Kong SAR (+49.4% per year).

In value terms, the largest base metal keys suppliers to Costa Rica were Peru ($X), China ($X) and Hong Kong SAR ($X), with a combined 55% share of total imports. Mexico, Colombia, the United States and Japan lagged somewhat behind, together accounting for a further 29%.

In terms of the main suppliers, Colombia, with a CAGR of +57.6%, saw the highest rates of growth with regard to 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

The average base metal keys import price stood at $X per ton in 2022, shrinking by -6.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2017 when the average import price increased by 20% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then reduced in the following year.

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 the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+17.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform