Costa Rica: Spirits And Liqueurs Market 2024

Spirits And Liqueurs Market Size in Costa Rica

The Costa Rican spirits and liqueurs market was finally on the rise to reach $X in 2022, after four years of decline. Over the period under review, consumption, however, saw a mild reduction. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Spirits And Liqueurs Production in Costa Rica

In value terms, spirits and liqueurs production dropped to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Spirits And Liqueurs Exports

Exports from Costa Rica

In 2022, exports of spirits, liqueurs and other spirituous beverages from Costa Rica shrank to X litres, which is down by X% compared with the previous year's figure. Over the period under review, total exports indicated modest growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of X litres, and then declined in the following year.

In value terms, spirits and liqueurs exports fell sharply to $X in 2022. Overall, total exports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Panama (X litres), Peru (X litres) and El Salvador (X litres) were the main destinations of spirits and liqueurs exports from Costa Rica, with a combined X% share of total exports.

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

In value terms, Panama ($X), El Salvador ($X) and Nicaragua ($X) were the largest markets for spirits and liqueurs exported from Costa Rica worldwide, with a combined X% share of total exports. Peru and Guatemala lagged somewhat behind, together accounting for a further X%.

Peru, with a CAGR of X%, recorded the highest growth rate of the value of exports, among 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

The average spirits and liqueurs export price stood at $X per litre in 2022, declining by X% against the previous year. Overall, export price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spirits and liqueurs export price decreased by X% against 2018 indices. The growth pace was the most rapid in 2015 when the average export price increased by X% against the previous year. The export price peaked at $X per litre in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Nicaragua ($X per litre) and Guatemala ($X per litre), while the average price for exports to Peru ($X per litre) and Panama ($X per litre) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Spirits And Liqueurs Imports

Imports into Costa Rica

In 2022, spirits and liqueurs imports into Costa Rica surged to X litres, jumping by X% on 2021. Overall, total imports indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2017 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, spirits and liqueurs imports soared to $X in 2022. In general, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Mexico (X litres) constituted the largest spirits and liqueurs supplier to Costa Rica, with a X% share of total imports. Moreover, spirits and liqueurs imports from Mexico exceeded the figures recorded by the second-largest supplier, the UK (X litres), threefold. The third position in this ranking was taken by Nicaragua (X litres), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Mexico totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (X% per year) and Nicaragua (X% per year).

In value terms, the UK ($X), Mexico ($X) and Nicaragua ($X) were the largest spirits and liqueurs suppliers to Costa Rica, with a combined X% share of total imports. The United States, France, Panama, Spain, Ireland, El Salvador and the Netherlands lagged somewhat behind, together comprising a further X%.

Spain, with a CAGR of X%, saw the highest growth rate of 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

The average spirits and liqueurs import price stood at $X per litre in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. Over the period under review, average import prices hit record highs at $X per litre in 2019; however, from 2020 to 2022, 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 the UK ($X per litre), while the price for El Salvador ($X per litre) was amongst the lowest.

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

Source: IndexBox Platform