Costa Rica: Natural Stone Sett Market 2024

Natural Stone Sett Market Size in Costa Rica

The Costa Rican natural stone sett market declined modestly to $X in 2022, almost unchanged from the previous year. In general, consumption recorded a remarkable increase. Natural stone sett consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Natural Stone Sett Production in Costa Rica

In value terms, natural stone sett production contracted to $X in 2022 estimated in export price. Overall, production saw a strong increase. The most prominent rate of growth was recorded in 2014 when the production volume increased by 78%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Natural Stone Sett Exports

Exports from Costa Rica

In 2022, overseas shipments of natural stone setts, kerbstones and flagstones were finally on the rise to reach X tons for the first time since 2016, thus ending a five-year declining trend. Over the period under review, exports, however, recorded a precipitous shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 3,009% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, natural stone sett exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a significant decrease. The pace of growth appeared the most rapid in 2016 with an increase of 671%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Nicaragua (X tons) and Panama (X tons) were the main destinations of natural stone sett exports from Costa Rica.

From 2012 to 2022, the biggest increases were recorded for Nicaragua (with a CAGR of +22.4%).

In value terms, Nicaragua ($X) and Panama ($X) constituted the largest markets for natural stone sett exported from Costa Rica worldwide.

Among the main countries of destination, Panama, with a CAGR of +8.7%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2022, the average natural stone sett export price amounted to $X per ton, surging by 57% against the previous year. Overall, the export price continues to indicate a strong increase. The pace of growth appeared the most rapid in 2013 an increase of 140% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Nicaragua totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+166.7%), while the prices for the other major destinations experienced more modest paces of growth.

Natural Stone Sett Imports

Imports into Costa Rica

In 2022, the amount of natural stone setts, kerbstones and flagstones imported into Costa Rica soared to X tons, picking up by 89% on 2021. In general, imports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2016 with an increase of 582% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, natural stone sett imports soared to $X in 2022. Overall, imports recorded significant growth. The pace of growth appeared the most rapid in 2016 when imports increased by 332% against the previous year. Over the period under review, imports reached the maximum at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the Dominican Republic (X tons) constituted the largest supplier of natural stone sett to Costa Rica, accounting for a 33% share of total imports. Moreover, natural stone sett imports from the Dominican Republic exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. The third position in this ranking was held by China (X tons), with a 5.7% share.

From 2012 to 2022, the average annual growth rate of volume from the Dominican Republic amounted to +23.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+102.6% per year) and China (+10.8% per year).

In value terms, the Dominican Republic ($X) constituted the largest supplier of natural stone setts, kerbstones and flagstones to Costa Rica, comprising 27% of total imports. The second position in the ranking was taken by China ($X), with a 9.7% share of total imports. It was followed by Italy, with a 6.9% share.

From 2012 to 2022, the average annual growth rate of value from the Dominican Republic totaled +15.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+13.5% per year) and Italy (+67.6% per year).

Import Prices by Country

In 2022, the average natural stone sett import price amounted to $X per ton, waning by -15.3% against the previous year. Over the period under review, the import price saw a pronounced slump. The most prominent rate of growth was recorded in 2017 when the average import price increased by 42%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, 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 Indonesia ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nicaragua (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform