Costa Rica: Pumps For Liquids Market 2024

Pumps For Liquids Market Size in Costa Rica

For the fourth year in a row, the Costa Rican pumps for liquids market recorded growth in sales value, which increased by 17% to $X in 2022. Overall, consumption posted a resilient expansion. Pumps for liquids consumption peaked in 2022 and is expected to retain growth in years to come.

Pumps For Liquids Exports

Exports from Costa Rica

After two years of growth, overseas shipments of pumps for liquids decreased by -35% to X units in 2022. Over the period under review, exports showed a deep contraction. The most prominent rate of growth was recorded in 2015 with an increase of 325%. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, pumps for liquids exports fell to $X in 2022. Overall, exports recorded a pronounced decline. The most prominent rate of growth was recorded in 2015 when exports increased by 354% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Honduras (X units), Guatemala (X units) and El Salvador (X units) were the main destinations of pumps for liquids exports from Costa Rica, with a combined 54% share of total exports. The United States, Venezuela, Brazil, Canada, Nicaragua, Panama, the Dominican Republic and Chile lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +21.5%), while the other leaders experienced more modest paces of growth.

In value terms, Honduras ($X), the United States ($X) and Guatemala ($X) were the largest markets for pumps for liquids exported from Costa Rica worldwide, together comprising 61% of total exports. El Salvador, Venezuela, Canada, Nicaragua, Panama, the Dominican Republic, Chile and Brazil lagged somewhat behind, together comprising a further 32%.

Canada, with a CAGR of +78.3%, saw the highest growth rate of the value of exports, in terms of the main countries of destination 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 pumps for liquids export price amounted to $X per unit, with an increase of 35% against the previous year. Overall, the export price showed a strong increase. The pace of growth appeared the most rapid in 2016 an increase of 52%. Over the period under review, the average export prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Brazil ($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 Canada (+46.8%), while the prices for the other major destinations experienced more modest paces of growth.

Pumps For Liquids Imports

Imports into Costa Rica

In 2022, the amount of pumps for liquids imported into Costa Rica soared to X units, with an increase of 36% against the previous year. Overall, imports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 118% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, pumps for liquids imports contracted to $X in 2022. In general, total imports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.6% 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 +7.6% against 2020 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 108% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of pumps for liquids to Costa Rica, with a 72% share of total imports. Moreover, pumps for liquids imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), eightfold. The third position in this ranking was held by Mexico (X units), with a 9.2% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +17.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+1.9% per year) and Mexico (+8.1% per year).

In value terms, the largest pumps for liquids suppliers to Costa Rica were the United States ($X), China ($X) and Mexico ($X), with a combined 78% share of total imports. Italy and the UK lagged somewhat behind, together accounting for a further 4.9%.

The UK, with a CAGR of +28.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average pumps for liquids import price stood at $X per unit in 2022, waning by -31.3% against the previous year. Over the period under review, the import price recorded a deep setback. The growth pace was the most rapid in 2014 when the average import price increased by 77%. The import price peaked at $X per unit in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform