Costa Rica: Personal Weighing Machine Market 2024

Personal Weighing Machine Market Size in Costa Rica

The Costa Rican personal weighing machine market fell notably to $X in 2022, with a decrease of -17.8% 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). Overall, consumption, however, enjoyed a resilient expansion. As a result, consumption reached the peak level of $X, and then declined sharply in the following year.

Personal Weighing Machine Exports

Exports from Costa Rica

In 2022, overseas shipments of personal weighing machines decreased by -29.3% to X units for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 2,658% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2021, and then fell remarkably in the following year.

In value terms, personal weighing machine exports fell remarkably to $X in 2022. Over the period under review, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2013 with an increase of 3,106% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Guatemala (X units) was the main destination for personal weighing machine exports from Costa Rica, with a 60% share of total exports. Moreover, personal weighing machine exports to Guatemala exceeded the volume sent to the second major destination, Panama (X units), threefold. The third position in this ranking was held by El Salvador (X units), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Guatemala totaled +64.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+96.9% per year) and El Salvador (+87.5% per year).

In value terms, the largest markets for personal weighing machine exported from Costa Rica were Guatemala ($X), Panama ($X) and El Salvador ($X), together accounting for 96% of total exports.

In terms of the main countries of destination, El Salvador, with a CAGR of +135.9%, recorded the highest growth rate of 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 personal weighing machine export price stood at $X per unit in 2022, almost unchanged from the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average export price increased by 41%. As a result, the export price reached the peak level of $X per unit. From 2016 to 2022, the average export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Panama ($X per unit) and the United States ($X per unit), while the average price for exports to Guatemala ($X per unit) and El Salvador ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to El Salvador (+25.8%), while the prices for the other major destinations experienced mixed trend patterns.

Personal Weighing Machine Imports

Imports into Costa Rica

In 2022, the amount of personal weighing machines imported into Costa Rica reduced markedly to X units, dropping by -20.7% on the previous year's figure. Overall, imports, however, saw a buoyant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 84%. Over the period under review, imports attained the peak figure at X units in 2021, and then fell sharply in the following year.

In value terms, personal weighing machine imports reduced notably to $X in 2022. In general, imports, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2013 when imports increased by 58%. Over the period under review, imports hit record highs at $X in 2021, and then declined remarkably in the following year.

Imports by Country

In 2022, China (X units) constituted the largest personal weighing machine supplier to Costa Rica, with a 61% share of total imports. Moreover, personal weighing machine imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), fivefold. The third position in this ranking was taken by South Korea (X units), with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +18.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+6.9% per year) and South Korea (+17.1% per year).

In value terms, China ($X) constituted the largest supplier of personal weighing machines to Costa Rica, comprising 52% of total imports. The second position in the ranking was held by the United States ($X), with a 15% share of total imports. It was followed by South Korea, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +13.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+6.1% per year) and South Korea (+18.1% per year).

Import Prices by Country

In 2022, the average personal weighing machine import price amounted to $X per unit, with an increase of 3.9% against the previous year. In general, the import price, however, recorded a perceptible downturn. The most prominent rate of growth was recorded in 2020 an increase of 15%. Over the period under review, average import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Taiwan (Chinese) ($X per unit) and South Korea ($X per unit), while the price for China ($X per unit) and Panama ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+2.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform