Costa Rica: Nucleic Acid Market 2024

Nucleic Acid Market Size in Costa Rica

The Costa Rican nucleic acid market fell notably to $X in 2022, dropping by -27.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed a perceptible reduction. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Nucleic Acid Exports

Exports from Costa Rica

Nucleic acid exports from Costa Rica skyrocketed to X tons in 2022, growing by 255% on the previous year's figure. Over the period under review, exports posted a resilient expansion. Over the period under review, the exports attained the maximum at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, nucleic acid exports surged to $X in 2022. Overall, exports saw a temperate increase. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Mexico (X tons) was the main destination for nucleic acid exports from Costa Rica, with a 41% share of total exports. Moreover, nucleic acid exports to Mexico exceeded the volume sent to the second major destination, the United States (X tons), threefold. Honduras (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Mexico stood at +26.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+75.6% per year) and Honduras (+41.1% per year).

In value terms, the United States ($X), Mexico ($X) and Peru ($X) appeared to be the largest markets for nucleic acid exported from Costa Rica worldwide, with a combined 75% share of total exports.

Among the main countries of destination, the United States, with a CAGR of +61.6%, saw 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 nucleic acid export price stood at $X per ton in 2022, picking up by 12% against the previous year. In general, the export price, however, showed a deep slump. The most prominent rate of growth was recorded in 2019 when the average export price increased by 82%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to Nicaragua ($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 Honduras (+8.7%), while the prices for the other major destinations experienced a decline.

Nucleic Acid Imports

Imports into Costa Rica

In 2022, after two years of growth, there was significant decline in purchases abroad of nucleic acids and their salts, when their volume decreased by -27.6% to X tons. Over the period under review, imports saw a mild decline. The pace of growth appeared the most rapid in 2021 with an increase of 74% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, nucleic acid imports fell dramatically to $X in 2022. In general, imports saw a pronounced downturn. The growth pace was the most rapid in 2021 when imports increased by 79% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest nucleic acid supplier to Costa Rica, accounting for a 58% share of total imports. Moreover, nucleic acid imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The United States (X tons) ranked third in terms of total imports with a 4.8% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+14.2% per year) and the United States (-6.2% per year).

In value terms, China ($X) constituted the largest supplier of nucleic acids and their salts to Costa Rica, comprising 51% of total imports. The second position in the ranking was held by Germany ($X), with a 22% share of total imports. It was followed by the United States, with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+10.0% per year) and the United States (-1.0% per year).

Import Prices by Country

In 2022, the average nucleic acid import price amounted to $X per ton, increasing by 7.5% against the previous year. In general, the import price, however, continues to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2019 when the average import price increased by 40%. As a result, import price attained the peak level of $X per ton. From 2020 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 India ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform