Report Update Nov 1, 2024

Costa Rica - Urea - Market Analysis, Forecast, Size, Trends and Insights

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Costa Rica: Urea Market 2024

Urea Market Size in Costa Rica

In 2022, after three years of growth, there was significant decline in the Costa Rican urea market, when its value decreased by -8.1% to $X. In general, consumption enjoyed resilient growth. Urea consumption peaked at $X in 2021, and then shrank in the following year.

Urea Exports

Exports from Costa Rica

In 2022, after four years of decline, there was significant growth in shipments abroad of urea, when their volume increased by 44% to X tons. Over the period under review, exports, however, recorded a significant decline. The pace of growth appeared the most rapid in 2016 when exports increased by 218% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, urea exports skyrocketed to $X in 2022. Overall, exports, however, showed a precipitous shrinkage. The pace of growth appeared the most rapid in 2016 with an increase of 135% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Honduras (X tons) was the main destination for urea exports from Costa Rica, with a 72% share of total exports. Moreover, urea exports to Honduras exceeded the volume sent to the second major destination, Panama (X tons), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Honduras amounted to +47.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (-35.2% per year) and Nicaragua (+0.9% per year).

In value terms, Honduras ($X) remains the key foreign market for urea exports from Costa Rica, comprising 64% of total exports. The second position in the ranking was taken by Panama ($X), with a 24% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Honduras stood at +31.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (-34.6% per year) and Nicaragua (-2.0% per year).

Export Prices by Country

The average urea export price stood at $X per ton in 2022, reducing by -2.3% against the previous year. Overall, the export price recorded a pronounced slump. The growth pace was the most rapid in 2017 when the average export price increased by 21% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Nicaragua ($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 (+0.8%), while the prices for the other major destinations experienced a decline.

Urea Imports

Imports into Costa Rica

Urea imports into Costa Rica totaled X tons in 2022, growing by 5.9% on 2021 figures. In general, imports enjoyed resilient growth. The most prominent rate of growth was recorded in 2020 when imports increased by 71% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, urea imports declined to $X in 2022. Over the period under review, imports posted a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 96%. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

Russia (X tons), Trinidad and Tobago (X tons) and China (X tons) were the main suppliers of urea imports to Costa Rica, with a combined 70% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Trinidad and Tobago (with a CAGR of +29.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest urea suppliers to Costa Rica were Russia ($X), Trinidad and Tobago ($X) and China ($X), with a combined 72% share of total imports. The United States, Estonia, the Netherlands, Belarus, Switzerland and Lithuania lagged somewhat behind, together accounting for a further 24%.

In terms of the main suppliers, the United States, with a CAGR of +26.1%, 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

The average urea import price stood at $X per ton in 2022, with a decrease of -17.4% against the previous year. Overall, the import price continues to indicate a mild setback. The growth pace was the most rapid in 2021 an increase of 50%. As a result, import price attained the peak level of $X per ton, and then shrank notably 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 the Netherlands ($X per ton), while the price for Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+44.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

This report provides an in-depth analysis of the urea market in Costa Rica. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 4001 -

Country coverage:

Costa Rica

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Costa Rica
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023