Costa Rica: Meat-Preparation Industrial Machinery Market 2024

Meat-Preparation Industrial Machinery Market Size in Costa Rica

In 2022, the Costa Rican meat-preparation industrial machinery market was finally on the rise to reach $X after two years of decline. In general, consumption, however, saw a slight descent. Meat-preparation industrial machinery consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Meat-Preparation Industrial Machinery Exports

Exports from Costa Rica

In 2022, the amount of industrial machinery for the preparation of meat or poultry exported from Costa Rica fell dramatically to X units, with a decrease of -26% on the previous year's figure. Overall, exports, however, saw a modest expansion. The pace of growth was the most pronounced in 2014 when exports increased by 106% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, meat-preparation industrial machinery exports contracted to $X in 2022. In general, exports, however, saw a strong increase. The most prominent rate of growth was recorded in 2014 when exports increased by 88% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Honduras (X units), Guatemala (X units) and Mexico (X units) were the main destinations of meat-preparation industrial machinery exports from Costa Rica, together accounting for 35% of total exports.

From 2012 to 2022, the biggest increases were recorded for Honduras (with a CAGR of +17.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for meat-preparation industrial machinery exported from Costa Rica were El Salvador ($X), Guatemala ($X) and the Netherlands ($X), together comprising 47% of total exports. Mexico, Colombia, the United States, Germany, Honduras, Panama, Nicaragua and Chile lagged somewhat behind, together comprising a further 53%.

Colombia, with a CAGR of +113.8%, recorded the highest growth rate of the value of exports, among 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

In 2022, the average meat-preparation industrial machinery export price amounted to $X per unit, growing by 15% against the previous year. Overall, the export price continues to indicate a remarkable increase. The pace of growth appeared the most rapid in 2015 when the average export price increased by 69%. The export price peaked at $X per unit in 2016; however, from 2017 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 El Salvador ($X per unit), while the average price for exports to Chile ($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 Colombia (+86.2%), while the prices for the other major destinations experienced more modest paces of growth.

Meat-Preparation Industrial Machinery Imports

Imports into Costa Rica

In 2022, purchases abroad of industrial machinery for the preparation of meat or poultry decreased by -1.2% to X units for the first time since 2017, thus ending a four-year rising trend. Overall, imports, however, enjoyed modest growth. The pace of growth appeared the most rapid in 2018 with an increase of 70%. Over the period under review, imports reached the peak figure at X units in 2021, and then shrank modestly in the following year.

In value terms, meat-preparation industrial machinery imports skyrocketed to $X in 2022. Over the period under review, imports saw a noticeable decrease. The growth pace was the most rapid in 2015 when imports increased by 63% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Mexico (X units), Germany (X units) and China (X units) were the main suppliers of meat-preparation industrial machinery imports to Costa Rica, together accounting for 70% of total imports. The United States, Spain, Denmark, Brazil, Italy, Poland, the Netherlands and Panama lagged somewhat behind, together comprising a further 23%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +27.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of industrial machinery for the preparation of meat or poultry to Costa Rica, comprising 41% of total imports. The second position in the ranking was held by the United States ($X), with a 13% share of total imports. It was followed by Spain, with a 9.1% share.

From 2012 to 2022, the average annual growth rate of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-8.7% per year) and Spain (+1.4% per year).

Import Prices by Country

In 2022, the average meat-preparation industrial machinery import price amounted to $X per unit, jumping by 31% against the previous year. Over the period under review, the import price, however, showed a abrupt curtailment. 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 ($X per unit), while the price for Mexico ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform