Costa Rica: Metal Office Furniture Market 2024

Metal Office Furniture Market Size in Costa Rica

In 2022, the Costa Rican metal office furniture market was finally on the rise to reach $X after four years of decline. Overall, consumption continues to indicate a slight increase. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Metal Office Furniture Exports

Exports from Costa Rica

In 2022, shipments abroad of metal office furniture increased by 25% to X tons for the first time since 2017, thus ending a four-year declining trend. Overall, exports, however, recorded a abrupt setback. The most prominent rate of growth was recorded in 2015 when exports increased by 111% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, metal office furniture exports surged to $X in 2022. In general, exports, however, recorded a abrupt curtailment. The growth pace was the most rapid in 2017 when exports increased by 100%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Mexico (X tons), Bahamas (X tons) and El Salvador (X tons) were the main destinations of metal office furniture exports from Costa Rica, with a combined 69% share of total exports. Guatemala, Germany, Nicaragua, Honduras, Panama, Malaysia and the United States lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +27.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for metal office furniture exported from Costa Rica were Bahamas ($X), Mexico ($X) and El Salvador ($X), together accounting for 70% of total exports.

Among the main countries of destination, El Salvador, with a CAGR of +17.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average metal office furniture export price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Overall, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal office furniture export price decreased by -13.6% against 2019 indices. The growth pace was the most rapid in 2019 when the average export price increased by 43%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Honduras ($X per ton), while the average price for exports to Germany ($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 (+13.3%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Office Furniture Imports

Imports into Costa Rica

In 2022, overseas purchases of metal office furniture were finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 57% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, metal office furniture imports soared to $X in 2022. In general, imports showed a slight increase. The pace of growth appeared the most rapid in 2017 when imports increased by 58%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), the United States (X tons) and Honduras (X tons) were the main suppliers of metal office furniture imports to Costa Rica, with a combined 77% share of total imports. Spain, Guatemala and Canada lagged somewhat behind, together comprising a further 13%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +7.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of metal office furniture to Costa Rica, comprising 42% of total imports. The second position in the ranking was taken by China ($X), with a 19% share of total imports. It was followed by Spain, with a 7.2% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.2% per year) and Spain (+7.3% per year).

Import Prices by Country

In 2022, the average metal office furniture import price amounted to $X per ton, flattening at the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 18% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices failed to regain momentum.

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 Canada ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+0.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform