Costa Rica: Market for Iron Or Steel Solid Fuel Domestic Appliances 2024

Market Size for Iron Or Steel Solid Fuel Domestic Appliances in Costa Rica

After two years of growth, the Costa Rican metal solid fuel appliances market decreased by -47.4% to $X in 2022. Over the period under review, consumption, however, recorded a buoyant increase. Metal solid fuel appliances consumption peaked at $X in 2021, and then shrank rapidly in the following year.

Exports of Iron Or Steel Solid Fuel Domestic Appliances

Exports from Costa Rica

In 2022, the amount of iron or steel solid fuel domestic appliances exported from Costa Rica contracted remarkably to X units, reducing by -18.8% against 2021 figures. In general, exports showed a noticeable descent. The most prominent rate of growth was recorded in 2013 when exports increased by 32% against the previous year. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal solid fuel appliances exports declined remarkably to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 219% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Guatemala (X units), Mexico (X units) and Germany (X units) were the main destinations of metal solid fuel appliances exports from Costa Rica, with a combined 23% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Guatemala (with a CAGR of 0.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Panama ($X) remains the key foreign market for iron or steel solid fuel domestic appliances exports from Costa Rica, comprising 62% of total exports. The second position in the ranking was taken by Guatemala ($X), with a 14% share of total exports. It was followed by Brazil, with a 14% share.

From 2012 to 2022, the average annual growth rate of value to Panama amounted to +45.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+15.6% per year) and Brazil (+39.4% per year).

Export Prices by Country

The average metal solid fuel appliances export price stood at $X per unit in 2022, which is down by -19.2% against the previous year. In general, the export price, however, continues to indicate a measured increase. The growth pace was the most rapid in 2021 an increase of 179%. As a result, the export price attained the peak level of $X per unit, and then reduced sharply in the following year.

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 Panama ($X per unit), while the average price for exports to Ecuador ($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 Panama (+45.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron Or Steel Solid Fuel Domestic Appliances

Imports into Costa Rica

In 2022, supplies from abroad of iron or steel solid fuel domestic appliances decreased by -54.4% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, recorded strong growth. The pace of growth appeared the most rapid in 2018 when imports increased by 363% against the previous year. Over the period under review, imports reached the peak figure at X units in 2021, and then declined notably in the following year.

In value terms, metal solid fuel appliances imports declined significantly to $X in 2022. In general, imports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2021 when imports increased by 493% against the previous year. As a result, imports reached the peak of $X, and then declined remarkably in the following year.

Imports by Country

The United States (X units), Brazil (X units) and Taiwan (Chinese) (X units) were the main suppliers of metal solid fuel appliances imports to Costa Rica, together accounting for 88% of total imports.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +37.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of iron or steel solid fuel domestic appliances to Costa Rica, comprising 54% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 20% share of total imports. It was followed by Argentina, with a 9.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +27.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+55.0% per year) and Argentina (+63.2% per year).

Import Prices by Country

In 2022, the average metal solid fuel appliances import price amounted to $X per unit, with an increase of 28% against the previous year. In general, the import price continues to indicate a resilient expansion. The growth pace was the most rapid in 2021 an increase of 88%. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per unit), while the price for Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+41.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform