Costa Rica: Non-Self-Propelled Fork-Lift Truck Market 2024

Non-Self-Propelled Fork-Lift Truck Market Size in Costa Rica

In 2022, the Costa Rican non-self-propelled fork-lift truck market decreased by -4.9% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Non-Self-Propelled Fork-Lift Truck Exports

Exports from Costa Rica

In 2022, shipments abroad of non-self-propelled fork-lift trucks decreased by -3.6% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2018 when exports increased by 125% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, non-self-propelled fork-lift truck exports amounted to $X in 2022. In general, exports recorded a abrupt slump. The growth pace was the most rapid in 2018 with an increase of 2,154% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Colombia (X units) was the main destination for non-self-propelled fork-lift truck exports from Costa Rica, accounting for a 56% share of total exports. Moreover, non-self-propelled fork-lift truck exports to Colombia exceeded the volume sent to the second major destination, Guatemala (X units), more than tenfold. Mexico (X units) ranked third in terms of total exports with a 3.7% share.

From 2012 to 2022, the average annual growth rate of volume to Colombia totaled +31.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (-23.2% per year) and Mexico (0.0% per year).

In value terms, Colombia ($X) remains the key foreign market for non-self-propelled fork-lift trucks exports from Costa Rica, comprising 81% of total exports. The second position in the ranking was taken by El Salvador ($X), with a 5.3% share of total exports. It was followed by Venezuela, with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Colombia stood at +40.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+9.6% per year) and Venezuela (-19.8% per year).

Export Prices by Country

The average non-self-propelled fork-lift truck export price stood at $X per unit in 2022, jumping by 19% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average export price increased by 902%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Colombia ($X per unit), while the average price for exports to Nicaragua ($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 the Dominican Republic (+63.8%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Self-Propelled Fork-Lift Truck Imports

Imports into Costa Rica

In 2022, purchases abroad of non-self-propelled fork-lift trucks decreased by -0.7% to X units, falling for the fourth consecutive year after two years of growth. Overall, imports, however, saw a slight increase. The pace of growth appeared the most rapid in 2015 when imports increased by 225% against the previous year. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, non-self-propelled fork-lift truck imports shrank to $X in 2022. In general, imports saw a perceptible downturn. The pace of growth was the most pronounced in 2018 when imports increased by 152%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of non-self-propelled fork-lift truck to Costa Rica, with a 82% share of total imports. Moreover, non-self-propelled fork-lift truck imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. Switzerland (X units) ranked third in terms of total imports with a 3.1% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +12.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-2.7% per year) and Switzerland (+1.9% per year).

In value terms, the United States ($X) constituted the largest supplier of non-self-propelled fork-lift trucks to Costa Rica, comprising 60% of total imports. The second position in the ranking was taken by China ($X), with a 14% share of total imports. It was followed by Switzerland, with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at -3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.4% per year) and Switzerland (+11.7% per year).

Import Prices by Country

In 2022, the average non-self-propelled fork-lift truck import price amounted to $X per unit, dropping by -12.3% against the previous year. Over the period under review, the import price continues to indicate a abrupt descent. The pace of growth appeared the most rapid in 2016 when the average import price increased by 116% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 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 the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform