Costa Rica: Plastic Household Articles Market 2024

Plastic Household Articles Market Size in Costa Rica

In 2022, after two years of growth, there was significant decline in the Costa Rican plastic household articles market, when its value decreased by -8.3% to $X. Overall, the total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +12.6% against 2019 indices. Plastic household articles consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Plastic Household Articles Exports

Exports from Costa Rica

In 2022, plastic household articles exports from Costa Rica expanded remarkably to X tons, growing by 5.3% compared with the previous year. Overall, exports posted a resilient increase. The pace of growth appeared the most rapid in 2018 with an increase of 83%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic household articles exports expanded modestly to $X in 2022. In general, total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -3.6% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of 52%. The exports peaked at $X in 2020; afterwards, it flattened through to 2022.

Exports by Country

Nicaragua (X tons) was the main destination for plastic household articles exports from Costa Rica, with a 49% share of total exports. Moreover, plastic household articles exports to Nicaragua exceeded the volume sent to the second major destination, El Salvador (X tons), threefold. Guatemala (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Nicaragua totaled +15.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+18.4% per year) and Guatemala (+6.5% per year).

In value terms, Nicaragua ($X), Guatemala ($X) and El Salvador ($X) appeared to be the largest markets for plastic household articles exported from Costa Rica worldwide, together accounting for 64% of total exports. Honduras, the United States, Panama and the Dominican Republic lagged somewhat behind, together comprising a further 30%.

The United States, with a CAGR of +34.0%, recorded 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 more modest paces of growth.

Export Prices by Country

The average plastic household articles export price stood at $X per ton in 2022, approximately equating the previous year. Overall, the export price saw a slight curtailment. The pace of growth was the most pronounced in 2021 when the average export price increased by 11% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Nicaragua ($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 the United States (+12.0%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Household Articles Imports

Imports into Costa Rica

After two years of growth, supplies from abroad of household articles and toilet articles of plastics decreased by -0.3% to X tons in 2022. The total import volume increased at an average annual rate of +4.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 18%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, plastic household articles imports reduced to $X in 2022. Overall, total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +11.4% against 2019 indices. The pace of growth appeared the most rapid in 2013 with an increase of 23%. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of plastic household articles to Costa Rica, with a 42% share of total imports. Moreover, plastic household articles imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. Guatemala (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-0.8% per year) and Guatemala (+12.3% per year).

In value terms, China ($X) constituted the largest supplier of household articles and toilet articles of plastics to Costa Rica, comprising 40% of total imports. The second position in the ranking was taken by the United States ($X), with a 16% share of total imports. It was followed by Guatemala, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-2.1% per year) and Guatemala (+9.1% per year).

Import Prices by Country

In 2022, the average plastic household articles import price amounted to $X per ton, waning by -8% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 19%. As a result, import price reached the peak level of $X per ton, and then dropped 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 Mexico ($X per ton), while the price for Panama ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform