Costa Rica: Market for Primary Cells and Batteries 2024

Market Size for Primary Cells and Batteries in Costa Rica

In 2022, the Costa Rican primary cell and battery market decreased by -5.1% to $X for the first time since 2017, thus ending a four-year rising trend. Overall, consumption, however, posted a prominent expansion. Over the period under review, the market hit record highs at $X in 2021, and then declined in the following year.

Production of Primary Cells and Batteries in Costa Rica

In value terms, primary cell and battery production expanded remarkably to $X in 2022 estimated in export price. Over the period under review, production posted a resilient expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by 54%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Exports of Primary Cells and Batteries

Exports from Costa Rica

Primary cell and battery exports from Costa Rica surged to X units in 2022, rising by 43% on the previous year. Overall, exports posted a remarkable increase. The pace of growth appeared the most rapid in 2016 when exports increased by 89% against the previous year. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, primary cell and battery exports surged to $X in 2022. Over the period under review, exports posted a prominent expansion. The pace of growth appeared the most rapid in 2018 with an increase of 90%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Peru (X units), Mexico (X units) and Panama (X units) were the main destinations of primary cell and battery exports from Costa Rica, together comprising 69% of total exports.

From 2012 to 2022, the biggest increases were recorded for Peru (with a CAGR of +235.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), Mexico ($X) and Panama ($X) constituted the largest markets for primary cell and battery exported from Costa Rica worldwide, with a combined 68% share of total exports.

In terms of the main countries of destination, Peru, with a CAGR of +137.8%, saw 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

In 2022, the average primary cell and battery export price amounted to $X per unit, reducing by -10.4% against the previous year. In general, export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, primary cell and battery export price decreased by -6.0% against 2018 indices. The most prominent rate of growth was recorded in 2018 an increase of 67% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Nicaragua ($X per unit) and the United States ($X per unit), while the average price for exports to Colombia ($X per unit) and Peru ($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 Nicaragua (+2.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Primary Cells and Batteries

Imports into Costa Rica

Primary cell and battery imports into Costa Rica contracted to X units in 2022, dropping by -8.8% against 2021 figures. Over the period under review, imports, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 100% against the previous year. Imports peaked at X units in 2021, and then shrank in the following year.

In value terms, primary cell and battery imports reduced to $X in 2022. In general, total imports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +13.5% against 2020 indices. The pace of growth was the most pronounced in 2016 when imports increased by 32%. Imports peaked at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, China (X units) constituted the largest primary cell and battery supplier to Costa Rica, with a 43% share of total imports. Moreover, primary cell and battery imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), twofold. Indonesia (X units) ranked third in terms of total imports with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +22.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+7.7% per year) and Indonesia (+15.0% per year).

In value terms, the largest primary cell and battery suppliers to Costa Rica were China ($X), the United States ($X) and Indonesia ($X), with a combined 76% share of total imports. Japan, Belgium, Thailand, Guatemala and Mexico lagged somewhat behind, together accounting for a further 16%.

Among the main suppliers, Belgium, with a CAGR of +91.1%, saw the highest rates of growth with regard to the value of imports, 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 primary cell and battery import price amounted to $X per unit, waning by -2% against the previous year. Overall, the import price continues to indicate a deep setback. The most prominent rate of growth was recorded in 2013 an increase of 19% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

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 Thailand ($X per unit), while the price for Guatemala ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+24.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform