Costa Rica: Base Metal Padlock Market 2024

Base Metal Padlock Market Size in Costa Rica

The Costa Rican base metal padlock market declined to $X in 2022, stabilizing at 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). In general, consumption recorded a relatively flat trend pattern. Base metal padlock consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Base Metal Padlock Exports

Exports from Costa Rica

In 2022, exports of base metal padlocks from Costa Rica fell remarkably to X kg, waning by -59.5% against the previous year. Overall, exports recorded a sharp descent. The most prominent rate of growth was recorded in 2015 with an increase of 399%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, base metal padlock exports expanded remarkably to $X in 2022. Over the period under review, exports continue to indicate a significant decrease. The most prominent rate of growth was recorded in 2015 when exports increased by 437% against the previous year. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Panama (X kg) was the main destination for base metal padlock exports from Costa Rica, accounting for a 78% share of total exports. Moreover, base metal padlock exports to Panama exceeded the volume sent to the second major destination, the United States (X kg), fivefold.

From 2012 to 2022, the average annual growth rate of volume to Panama totaled +3.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-3.3% per year) and the United Arab Emirates (-2.8% per year).

In value terms, Panama ($X) remains the key foreign market for base metal padlocks exports from Costa Rica, comprising 77% of total exports. The second position in the ranking was held by the United States ($X), with a 17% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Panama stood at +5.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-6.8% per year) and the United Arab Emirates (-7.4% per year).

Export Prices by Country

The average base metal padlock export price stood at $X per ton in 2022, growing by 159% against the previous year. Over the period under review, the export price continues to indicate a buoyant increase. The pace of growth appeared the most rapid in 2013 when the average export price increased by 256% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Panama ($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 Nicaragua (+13.6%), while the prices for the other major destinations experienced more modest paces of growth.

Base Metal Padlock Imports

Imports into Costa Rica

In 2022, after three years of decline, there was growth in supplies from abroad of base metal padlocks, when their volume increased by 1.5% to X tons. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 12%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, base metal padlock imports shrank modestly to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 15% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest base metal padlock supplier to Costa Rica, with a 75% share of total imports. Moreover, base metal padlock imports from China exceeded the figures recorded by the second-largest supplier, Colombia (X tons), sixfold. The third position in this ranking was held by the United States (X tons), with a 5.5% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+12.3% per year) and the United States (-4.9% per year).

In value terms, China ($X) constituted the largest supplier of base metal padlocks to Costa Rica, comprising 69% of total imports. The second position in the ranking was held by Colombia ($X), with a 16% share of total imports. It was followed by the United States, with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+7.4% per year) and the United States (-4.3% per year).

Import Prices by Country

In 2022, the average base metal padlock import price amounted to $X per ton, declining by -3.3% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 10% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained 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 the United States ($X per ton), while the price for Panama ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform