Costa Rica: Wooden Furniture Treatments Market 2024

Wooden Furniture Treatments Market Size in Costa Rica

After two years of decline, the Costa Rican wooden furniture treatments market increased by 70% to $X in 2022. Over the period under review, consumption, however, continues to indicate a noticeable descent. Wooden furniture treatments consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Wooden Furniture Treatments Exports

Exports from Costa Rica

In 2022, exports of polishes and creams for wooden furniture and floors from Costa Rica contracted sharply to X tons, which is down by -20.4% on the previous year's figure. Over the period under review, exports recorded a mild downturn. The most prominent rate of growth was recorded in 2016 when exports increased by 515%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, wooden furniture treatments exports declined dramatically to $X in 2022. Overall, exports showed a abrupt shrinkage. The growth pace was the most rapid in 2016 with an increase of 299% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Nicaragua (X tons), Guatemala (X kg) and Honduras (X kg) were the main destinations of wooden furniture treatments exports from Costa Rica, with a combined 90% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Nicaragua (with a CAGR of +7.0%), while shipments for the other leaders experienced a decline.

In value terms, Nicaragua ($X) remains the key foreign market for polishes and creams for wooden furniture and floors exports from Costa Rica, comprising 56% of total exports. The second position in the ranking was taken by Honduras ($X), with a 23% share of total exports. It was followed by El Salvador, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Nicaragua was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (-14.7% per year) and El Salvador (-8.2% per year).

Export Prices by Country

The average wooden furniture treatments export price stood at $X per ton in 2022, rising by 4% against the previous year. Over the period under review, the export price, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2019 an increase of 9% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Nicaragua ($X per ton), while the average price for exports to Guatemala ($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 Panama (+2.8%), while the prices for the other major destinations experienced a decline.

Wooden Furniture Treatments Imports

Imports into Costa Rica

In 2022, supplies from abroad of polishes and creams for wooden furniture and floors increased by 63% to X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, imports, however, recorded a noticeable setback. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, wooden furniture treatments imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate a noticeable downturn. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Mexico (X tons) constituted the largest supplier of wooden furniture treatments to Costa Rica, accounting for a 52% share of total imports. Moreover, wooden furniture treatments imports from Mexico exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. The third position in this ranking was taken by Chile (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Mexico stood at -6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+0.2% per year) and Chile (+4.9% per year).

In value terms, Mexico ($X), the United States ($X) and Chile ($X) constituted the largest wooden furniture treatments suppliers to Costa Rica, together accounting for 92% of total imports. China, the UK and Spain lagged somewhat behind, together accounting for a further 6.5%.

China, with a CAGR of +92.4%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average wooden furniture treatments import price amounted to $X per ton, approximately equating the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 14%. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the UK ($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 (+4.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform