Costa Rica: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in Costa Rica

The Costa Rican market for copper bars, rods and profiles plummeted to $X in 2022, which is down by -27.4% 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). Overall, consumption saw a deep contraction. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Exports of Copper Bars, Rods and Profiles

Exports from Costa Rica

In 2022, the amount of copper bars, rods and profiles exported from Costa Rica expanded markedly to X tons, picking up by 15% against the previous year's figure. Overall, exports continue to indicate a pronounced increase. The pace of growth appeared the most rapid in 2020 with an increase of 560%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, copper bar, rod and profile exports stood at $X in 2022. In general, exports enjoyed a perceptible expansion. The growth pace was the most rapid in 2019 with an increase of 495%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Guatemala (X tons), Panama (X tons) and Nicaragua (X tons) were the main destinations of copper bar, rod and profile exports from Costa Rica, together comprising 68% of total exports. The Dominican Republic, Honduras, Mexico, El Salvador, Bolivia and the United States lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the biggest increases were recorded for El Salvador (with a CAGR of +88.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Guatemala ($X) remains the key foreign market for copper bars, rods and profiles exports from Costa Rica, comprising 37% of total exports. The second position in the ranking was held by Nicaragua ($X), with an 18% share of total exports. It was followed by the Dominican Republic, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Guatemala stood at +14.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (-7.4% per year) and the Dominican Republic (+16.4% per year).

Export Prices by Country

In 2022, the average export price for copper bars, rods and profiles amounted to $X per ton, dropping by -12.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2016 when the average export price increased by 46%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Panama ($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 Honduras (+21.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Rods and Profiles

Imports into Costa Rica

In 2022, approx. X tons of copper bars, rods and profiles were imported into Costa Rica; waning by -9.3% compared with 2021 figures. In general, imports saw a noticeable curtailment. The pace of growth appeared the most rapid in 2019 when imports increased by 351% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, copper bar, rod and profile imports contracted dramatically to $X in 2022. Overall, imports showed a noticeable reduction. The growth pace was the most rapid in 2019 with an increase of 408% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

South Korea (X tons), the United States (X tons) and Mexico (X tons) were the main suppliers of copper bar, rod and profile imports to Costa Rica, together comprising 66% of total imports. Peru, Brazil, Belgium, India, Spain and Colombia lagged somewhat behind, together comprising a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Peru (with a CAGR of +94.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of copper bars, rods and profiles to Costa Rica, comprising 46% of total imports. The second position in the ranking was taken by Peru ($X), with a 13% share of total imports. It was followed by Mexico, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at -5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+79.0% per year) and Mexico (-4.5% per year).

Import Prices by Country

The average import price for copper bars, rods and profiles stood at $X per ton in 2022, shrinking by -18.9% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 24%. As a result, import price attained the peak level of $X per ton, and then plummeted 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 Colombia ($X per ton), while the price for South Korea ($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 (+12.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform