Costa Rica: Transportation Vehicle Body Market 2025

Transportation Vehicle Body Market Size in Costa Rica

The Costa Rican transportation vehicle body market contracted modestly to $X in 2022, with a decrease of -3% against the previous year. Over the period under review, consumption, however, posted a strong expansion. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Transportation Vehicle Body Production in Costa Rica

In value terms, transportation vehicle body production shrank modestly to $X in 2022 estimated in export price. In general, production, however, posted prominent growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 70%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Transportation Vehicle Body Exports

Exports from Costa Rica

In 2022, after two years of growth, there was significant decline in overseas shipments of bodies for motor vehicles for the transporting people, when their volume decreased by -36.8% to X units. Overall, exports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2015 when exports increased by 617% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, transportation vehicle body exports fell markedly to $X in 2022. In general, exports saw a mild decline. The most prominent rate of growth was recorded in 2015 with an increase of 1,099% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Guatemala (X units), Honduras (X units) and Panama (X units) were the main destinations of transportation vehicle body exports from Costa Rica, together comprising 67% of total exports.

From 2012 to 2022, the biggest increases were recorded for Guatemala (with a CAGR of +11.6%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for transportation vehicle body exported from Costa Rica were Guatemala ($X), Honduras ($X) and the United States ($X), with a combined 96% share of total exports.

Guatemala, with a CAGR of +57.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average transportation vehicle body export price amounted to $X per unit, declining by -10% against the previous year. Over the period under review, the export price, however, enjoyed a strong increase. The pace of growth was the most pronounced in 2021 when the average export price increased by 168%. As a result, the export price attained the peak level of $X per unit, and then shrank in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($X per unit), while the average price for exports to El Salvador ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (+40.6%), while the prices for the other major destinations experienced more modest paces of growth.

Transportation Vehicle Body Imports

Imports into Costa Rica

In 2022, approx. X units of bodies for motor vehicles for the transporting people were imported into Costa Rica; waning by -5% on the previous year's figure. In general, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2019 when imports increased by 22%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, transportation vehicle body imports shrank notably to $X in 2022. Overall, imports recorded a sharp downturn. The most prominent rate of growth was recorded in 2016 with an increase of 4,081% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Brazil (X units), Guatemala (X units) and Mexico (X units) were the main suppliers of transportation vehicle body imports to Costa Rica, with a combined 21% share of total imports. Moreover, transportation vehicle body imports in Brazil exceeded the figures recorded by the second-largest supplier, Guatemala, twofold.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of +7.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) constituted the largest supplier of bodies for motor vehicles for the transporting people to Costa Rica, comprising 52% of total imports. The second position in the ranking was taken by Guatemala ($X), with a 7% share of total imports. It was followed by Mexico, with a 2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil amounted to +14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Guatemala (-4.2% per year) and Mexico (+18.4% per year).

Import Prices by Country

The average transportation vehicle body import price stood at $X per unit in 2022, dropping by -22.5% against the previous year. In general, the import price faced a abrupt decline. The growth pace was the most rapid in 2016 an increase of 3,861% against the previous year. Over the period under review, average import prices reached the maximum at $X 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 Brazil ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+24.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform