Costa Rica: Market for Welded And Cold-Formed Sections Of Steel 2024

Market Size for Welded And Cold-Formed Sections Of Steel in Costa Rica

In 2022, after four years of decline, there was significant growth in the Costa Rican market for welded and cold-formed sections of steel, when its value increased by 150% to $X. Overall, consumption, however, showed a sharp slump. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Exports of Welded And Cold-Formed Sections Of Steel

Exports from Costa Rica

In 2022, the amount of welded and cold-formed sections of steel exported from Costa Rica declined remarkably to X kg, dropping by -49% compared with 2021 figures. Overall, exports, however, recorded a resilient increase. The growth pace was the most rapid in 2021 when exports increased by 13,585% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, welded and cold-formed steel sections exports declined markedly to $X in 2022. In general, exports, however, recorded prominent growth. The growth pace was the most rapid in 2021 with an increase of 19,352%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Guatemala (X kg) was the main destination for welded and cold-formed steel sections exports from Costa Rica, accounting for a 78% share of total exports. Moreover, welded and cold-formed steel sections exports to Guatemala exceeded the volume sent to the second major destination, Panama (X kg), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Guatemala amounted to +50.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+5.5% per year) and Nicaragua (-33.3% per year).

In value terms, Guatemala ($X) remains the key foreign market for welded and cold-formed sections of steel exports from Costa Rica, comprising 89% of total exports. The second position in the ranking was taken by Panama ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Guatemala totaled +46.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+5.5% per year) and Nicaragua (-23.1% per year).

Export Prices by Country

The average export price for welded and cold-formed sections of steel stood at $X per ton in 2022, approximately mirroring the previous year. Over the period under review, the export price, however, saw a measured expansion. The growth pace was the most rapid in 2021 when the average export price increased by 42% against the previous year. As a result, the export price attained the peak level of $X per ton, and then declined modestly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to Panama ($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 the United Arab Emirates (+66.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Welded And Cold-Formed Sections Of Steel

Imports into Costa Rica

After four years of decline, overseas purchases of welded and cold-formed sections of steel increased by 141% to X tons in 2022. In general, imports, however, faced a precipitous contraction. The most prominent rate of growth was recorded in 2017 with an increase of 1,040%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, welded and cold-formed steel sections imports soared to $X in 2022. Overall, imports, however, saw a deep reduction. The growth pace was the most rapid in 2017 when imports increased by 736%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the Dominican Republic (X tons) was the main supplier of welded and cold-formed steel sections to Costa Rica, accounting for a 98% share of total imports. It was followed by the United States (X kg), with a 1.8% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the Dominican Republic amounted to -23.4%.

In value terms, the Dominican Republic ($X) constituted the largest supplier of welded and cold-formed sections of steel to Costa Rica, comprising 94% of total imports. The second position in the ranking was taken by the United States ($X), with a 3.3% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the Dominican Republic totaled -17.5%.

Import Prices by Country

In 2022, the average import price for welded and cold-formed sections of steel amounted to $X per ton, which is down by -11.1% against the previous year. In general, the import price, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2019 an increase of 106% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then dropped 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 United States ($X per ton), while the price for the Dominican Republic stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Dominican Republic (+7.7%).

Source: IndexBox Platform