Costa Rica: Rock Cutter Market 2024

Rock Cutter Market Size in Costa Rica

The Costa Rican rock cutter market surged to $X in 2022, picking up by 83% against the previous year. In general, consumption posted a temperate increase. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Rock Cutter Production in Costa Rica

In value terms, rock cutter production shrank notably to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a deep setback. The most prominent rate of growth was recorded in 2019 with an increase of 44,771,000% against the previous year. Rock cutter production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Rock Cutter Exports

Exports from Costa Rica

After three years of growth, overseas shipments of coal or rock cutters and tunnelling machinery decreased by -25% to X units in 2022. Overall, exports, however, enjoyed buoyant growth. The pace of growth was the most pronounced in 2013 with an increase of 343% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, rock cutter exports declined dramatically to $X in 2022. Over the period under review, exports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2013 with an increase of 264% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Honduras (X units) was the main destination for rock cutter exports from Costa Rica, accounting for a 94% share of total exports. Moreover, rock cutter exports to Honduras exceeded the volume sent to the second major destination, Nicaragua (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Honduras stood at +32.8%.

In value terms, Honduras ($X) remains the key foreign market for coal or rock cutters and tunnelling machinery exports from Costa Rica, comprising 100% of total exports. The second position in the ranking was held by Nicaragua ($X), with a 0.1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Honduras stood at +86.0%.

Export Prices by Country

In 2022, the average rock cutter export price amounted to $X per unit, flattening at the previous year. In general, the export price, however, recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2018 an increase of 10%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Honduras ($X per unit), while the average price for exports to Nicaragua stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to El Salvador (+21.4%), while the prices for the other major destinations experienced mixed trend patterns.

Rock Cutter Imports

Imports into Costa Rica

Rock cutter imports into Costa Rica soared to X units in 2022, with an increase of 55% against the previous year's figure. Over the period under review, imports showed resilient growth. The growth pace was the most rapid in 2020 with an increase of 667% against the previous year. As a result, imports reached the peak of X units. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, rock cutter imports soared to $X in 2022. In general, imports posted a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 744%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Germany (X units) constituted the largest rock cutter supplier to Costa Rica, accounting for a 68% share of total imports. Moreover, rock cutter imports from Germany exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. Nicaragua (X units) ranked third in terms of total imports with a 2.9% share.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to +22.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (0.0% per year) and Nicaragua (0.0% per year).

In value terms, Germany ($X) constituted the largest supplier of coal or rock cutters and tunnelling machinery to Costa Rica, comprising 71% of total imports. The second position in the ranking was held by the United States ($X), with a 3% share of total imports. It was followed by China, with a 0.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +42.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+29.2% per year) and China (+53.8% per year).

Import Prices by Country

The average rock cutter import price stood at $X per unit in 2022, which is down by -2.2% against the previous year. Overall, the import price, however, posted prominent growth. The most prominent rate of growth was recorded in 2013 when the average import price increased by 125%. Over the period under review, average import prices reached the maximum at $X per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Nicaragua ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+44.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform