Costa Rica: Headphone Market 2024

Headphone Market Size in Costa Rica

In 2022, the Costa Rican headphone market decreased by -2.6% to $X, falling for the second consecutive year after four years of growth. In general, consumption, however, enjoyed a resilient increase. Headphone consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Headphone Exports

Exports from Costa Rica

In 2022, overseas shipments of headphones decreased by -24.1% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of 199% against the previous year. The exports peaked at X units in 2021, and then reduced markedly in the following year.

In value terms, headphone exports shrank to $X in 2022. In general, exports, however, posted significant growth. The pace of growth was the most pronounced in 2014 with an increase of 539% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Nicaragua (X units), Guatemala (X units) and France (X units) were the main destinations of headphone exports from Costa Rica, with a combined 49% share of total exports.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +90.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Nicaragua ($X) remains the key foreign market for headphones exports from Costa Rica, comprising 43% of total exports. The second position in the ranking was held by Guatemala ($X), with a 14% share of total exports. It was followed by France, with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Nicaragua amounted to +39.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+9.3% per year) and France (+116.9% per year).

Export Prices by Country

The average headphone export price stood at $X per unit in 2022, jumping by 17% against the previous year. Over the period under review, the export price posted mild growth. The pace of growth was the most pronounced in 2014 when the average export price increased by 114%. The export price peaked at $X per unit in 2016; however, from 2017 to 2022, the 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 Nicaragua ($X per unit), while the average price for exports to the Dominican Republic ($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 Jamaica (+25.5%), while the prices for the other major destinations experienced more modest paces of growth.

Headphone Imports

Imports into Costa Rica

In 2022, overseas purchases of headphones decreased by -7.9% to X units, falling for the second consecutive year after four years of growth. In general, imports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of 106%. Over the period under review, imports hit record highs at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, headphone imports reached $X in 2022. Over the period under review, imports, however, showed a prominent increase. The pace of growth was the most pronounced in 2020 when imports increased by 68%. As a result, imports reached the peak of $X; afterwards, it flattened through to 2022.

Imports by Country

Panama (X units), China (X units) and the United States (X units) were the main suppliers of headphone imports to Costa Rica, with a combined 91% share of total imports. Vietnam, Hong Kong SAR and Mexico lagged somewhat behind, together comprising a further 8%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +199.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of headphones to Costa Rica, comprising 56% of total imports. The second position in the ranking was held by China ($X), with a 17% share of total imports. It was followed by Panama, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +12.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+18.0% per year) and Panama (+44.3% per year).

Import Prices by Country

In 2022, the average headphone import price amounted to $X per unit, growing by 8.9% against the previous year. Over the period under review, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, headphone import price increased by +68.2% against 2019 indices. The pace of growth was the most pronounced in 2020 an increase of 50%. The import price peaked at $X per unit in 2017; however, from 2018 to 2022, import prices remained at a 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 ($X per unit), while the price for Panama ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+18.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform