Costa Rica: Market for Television, Video and Digital Cameras 2024

Market Size for Television, Video and Digital Cameras in Costa Rica

In 2022, after two years of growth, there was decline in the Costa Rican market for television, video and digital cameras, when its value decreased by -0.4% to $X. Overall, consumption continues to indicate a prominent increase. Television, video and digital camera consumption peaked at $X in 2021, and then reduced slightly in the following year.

Exports of Television, Video and Digital Cameras

Exports from Costa Rica

After five years of decline, shipments abroad of television, video and digital cameras increased by 64% to X units in 2022. Over the period under review, exports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2016 with an increase of 106% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, television, video and digital camera exports surged to $X in 2022. Overall, exports, however, faced a abrupt shrinkage. The growth pace was the most rapid in 2016 when exports increased by 80%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for television, video and digital camera exports from Costa Rica, with a 44% share of total exports. Moreover, television, video and digital camera exports to the United States exceeded the volume sent to the second major destination, Russia (X units), twofold. Mexico (X units) ranked third in terms of total exports with a 3.9% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+2.1% per year) and Mexico (-17.5% per year).

In value terms, the United States ($X) remains the key foreign market for television, video and digital cameras exports from Costa Rica, comprising 28% of total exports. The second position in the ranking was taken by Honduras ($X), with a 10% share of total exports. It was followed by Panama, with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to -4.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (-14.3% per year) and Panama (-21.4% per year).

Export Prices by Country

The average export price for television, video and digital cameras stood at $X per unit in 2022, reducing by -9.1% against the previous year. Over the period under review, export price indicated tangible growth from 2012 to 2022: its price 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, television, video and digital camera export price increased by +55.1% against 2017 indices. The most prominent rate of growth was recorded in 2013 an increase of 57%. The export price peaked at $X per unit in 2021, and then dropped in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Panama ($X per unit), while the average price for exports to Russia ($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 Panama (+24.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Television, Video and Digital Cameras

Imports into Costa Rica

For the third year in a row, Costa Rica recorded growth in purchases abroad of television, video and digital cameras, which increased by 6% to X units in 2022. Overall, imports recorded a prominent increase. The growth pace was the most rapid in 2018 when imports increased by 47% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, television, video and digital camera imports declined to $X in 2022. In general, total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.4% 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 +93.8% against 2016 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 48% against the previous year. Imports peaked at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, China (X units) constituted the largest television, video and digital camera supplier to Costa Rica, with a 85% share of total imports. Moreover, television, video and digital camera imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China stood at +11.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+32.1% per year) and the United States (-11.9% per year).

In value terms, the largest television, video and digital camera suppliers to Costa Rica were China ($X), the United States ($X) and Hong Kong SAR ($X), together accounting for 80% of total imports.

Among the main suppliers, Hong Kong SAR, with a CAGR of +12.9%, recorded the highest growth rate of 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

The average import price for television, video and digital cameras stood at $X per unit in 2022, reducing by -10.8% against the previous year. Over the period under review, the import price recorded a deep slump. The most prominent rate of growth was recorded in 2015 an increase of 7.9%. The import price peaked at $X per unit in 2012; however, from 2013 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 United States ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+16.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform