Costa Rica: Plastic Ornamental Articles Market 2024

Plastic Ornamental Articles Market Size in Costa Rica

The Costa Rican plastic ornamental articles market shrank significantly to $X in 2022, falling by -16.6% 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). In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then shrank notably in the following year.

Plastic Ornamental Articles Exports

Exports from Costa Rica

In 2022, the amount of statuettes and other ornamental articles of plastic exported from Costa Rica shrank modestly to X tons, dropping by -2% on the year before. Over the period under review, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 214%. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, plastic ornamental articles exports plummeted to $X in 2022. In general, exports, however, posted significant growth. The pace of growth appeared the most rapid in 2019 with an increase of 200%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Guatemala (X tons), the Dominican Republic (X tons) and the United States (X tons) were the main destinations of plastic ornamental articles exports from Costa Rica, with a combined 63% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guatemala (with a CAGR of +70.9%), while the other leaders experienced more modest paces of growth.

In value terms, Guatemala ($X) remains the key foreign market for statuettes and other ornamental articles of plastic exports from Costa Rica, comprising 38% of total exports. The second position in the ranking was held by the Dominican Republic ($X), with a 16% share of total exports. It was followed by El Salvador, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Guatemala amounted to +75.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (+27.9% per year) and El Salvador (+33.1% per year).

Export Prices by Country

In 2022, the average plastic ornamental articles export price amounted to $X per ton, which is down by -15.2% against the previous year. In general, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic ornamental articles export price increased by +22.3% against 2020 indices. The growth pace was the most rapid in 2017 when the average export price increased by 103%. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then reduced rapidly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Colombia ($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 (+18.4%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Ornamental Articles Imports

Imports into Costa Rica

In 2022, plastic ornamental articles imports into Costa Rica shrank to X tons, waning by -12.1% on the previous year's figure. Overall, imports showed a slight reduction. The growth pace was the most rapid in 2021 when imports increased by 32% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, plastic ornamental articles imports plummeted to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 53% against the previous year. As a result, imports reached the peak of $X, and then reduced dramatically in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest plastic ornamental articles supplier to Costa Rica, accounting for a 64% share of total imports. Moreover, plastic ornamental articles imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold. Guatemala (X tons) ranked third in terms of total imports with a 5.6% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-2.3% per year) and Guatemala (+10.6% per year).

In value terms, China ($X) constituted the largest supplier of statuettes and other ornamental articles of plastic to Costa Rica, comprising 63% of total imports. The second position in the ranking was held by the United States ($X), with a 15% share of total imports. It was followed by Guatemala, with a 3.6% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-0.7% per year) and Guatemala (+11.2% per year).

Import Prices by Country

The average plastic ornamental articles import price stood at $X per ton in 2022, falling by -6.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 16% against the previous year. As a result, import price reached the peak level of $X per ton, and then shrank in the following year.

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 Taiwan (Chinese) ($X per ton), while the price for Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform