Costa Rica: Hand-Operated Air Pump Market 2024

Hand-Operated Air Pump Market Size in Costa Rica

In 2022, the Costa Rican hand-operated air pump market decreased by -12.9% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption, however, continues to indicate a buoyant increase. Hand-operated air pump consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Hand-Operated Air Pump Exports

Exports from Costa Rica

Hand-operated air pump exports from Costa Rica soared to X units in 2022, increasing by 128% on the previous year's figure. Overall, exports showed a significant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 576%. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, hand-operated air pump exports soared to $X in 2022. In general, exports continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 1,506%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for hand-operated air pump exports from Costa Rica, accounting for a 92% share of total exports. It was followed by Guatemala (X units), with a 3% share of total exports. Panama (X units) ranked third in terms of total exports with a 2.1% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +104.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+45.0% per year) and Panama (+21.9% per year).

In value terms, the United States ($X) emerged as the key foreign market for hand or foot-operated air pumps exports from Costa Rica, comprising 80% of total exports. The second position in the ranking was taken by Guatemala ($X), with a 7.5% share of total exports. It was followed by Panama, with a 5.3% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +107.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+57.7% per year) and Panama (+20.6% per year).

Export Prices by Country

In 2022, the average hand-operated air pump export price amounted to $X per unit, falling by -30.9% against the previous year. In general, the export price recorded a drastic downturn. The pace of growth was the most pronounced in 2017 when the average export price increased by 137%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Honduras ($X per unit), while the average price for exports to Ecuador ($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 (+8.8%), while the prices for the other major destinations experienced mixed trend patterns.

Hand-Operated Air Pump Imports

Imports into Costa Rica

In 2022, after two years of growth, there was significant decline in purchases abroad of hand or foot-operated air pumps, when their volume decreased by -9.7% to X units. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 90%. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, hand-operated air pump imports contracted to $X in 2022. In general, imports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2015 with an increase of 90%. Over the period under review, imports reached the maximum at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, China (X units) constituted the largest hand-operated air pump supplier to Costa Rica, accounting for a 50% share of total imports. Moreover, hand-operated air pump imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), twofold. The third position in this ranking was held by the United States (X units), with an 18% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+1.5% per year) and the United States (+3.7% per year).

In value terms, Taiwan (Chinese) ($X), the United States ($X) and China ($X) constituted the largest hand-operated air pump suppliers to Costa Rica, with a combined 89% share of total imports. France lagged somewhat behind, accounting for a further 3.8%.

In terms of the main suppliers, France, with a CAGR of +71.3%, 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 hand-operated air pump import price stood at $X per unit in 2022, reducing by -3.8% against the previous year. Over the period under review, the import price, however, continues to indicate a strong increase. The most prominent rate of growth was recorded in 2016 when the average import price increased by 38%. Over the period under review, average import prices attained the maximum at $X per unit in 2021, and then declined 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 ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform