Costa Rica: Market for Wiring sets used in vehicles, aircraft or ships 2024

Market Size for Wiring sets used in vehicles, aircraft or ships in Costa Rica

The Costa Rican market for wiring sets used in vehicles, aircraft or ships amounted to $X in 2022, rising by 4.2% against the previous year. In general, consumption saw a strong expansion. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Wiring sets used in vehicles, aircraft or ships in Costa Rica

In value terms, production of wiring sets used in vehicles, aircraft or ships rose rapidly to $X in 2022 estimated in export price. In general, production recorded a strong expansion. The pace of growth was the most pronounced in 2015 when the production volume increased by 46% against the previous year. Over the period under review, production of attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Wiring sets used in vehicles, aircraft or ships

Exports from Costa Rica

After two years of decline, overseas shipments of wiring sets used in vehicles, aircraft or ships increased by 78% to X tons in 2022. Over the period under review, exports enjoyed a notable expansion. The growth pace was the most rapid in 2019 with an increase of 154%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of wiring sets used in vehicles, aircraft or ships skyrocketed to $X in 2022. Overall, exports saw a pronounced increase. The pace of growth was the most pronounced in 2019 with an increase of 91% against the previous year. Over the period under review, the exports of reached the maximum at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) and Mexico (X tons) were the main destinations of exports of wiring sets used in vehicles, aircraft or ships from Costa Rica.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +73.7%).

In value terms, the largest markets for wiring sets used in vehicles, aircraft or ships exported from Costa Rica were the United States ($X) and Mexico ($X).

In terms of the main countries of destination, the United States, with a CAGR of +85.9%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2022, the average export price for wiring sets used in vehicles, aircraft or ships amounted to $X per ton, dropping by -9.3% against the previous year. Over the period under review, the export price saw a pronounced slump. The most prominent rate of growth was recorded in 2017 an increase of 40%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Mexico totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+7.0%).

Imports of Wiring sets used in vehicles, aircraft or ships

Imports into Costa Rica

In 2022, after two years of growth, there was significant decline in purchases abroad of wiring sets used in vehicles, aircraft or ships, when their volume decreased by -28.4% to X tons. In general, imports, however, saw pronounced growth. The pace of growth was the most pronounced in 2021 when imports increased by 85% against the previous year. As a result, imports attained the peak of X tons, and then shrank significantly in the following year.

In value terms, imports of wiring sets used in vehicles, aircraft or ships shrank to $X in 2022. The total import value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 38%. As a result, imports attained the peak of $X, and then contracted in the following year.

Imports by Country

The United States (X tons), Mexico (X tons) and Panama (X tons) were the main suppliers of imports of wiring sets used in vehicles, aircraft or ships to Costa Rica, together comprising 60% of total imports. China, Taiwan (Chinese), South Korea, Malaysia, Brazil, Germany, Colombia, Japan and the Philippines lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +63.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of wiring sets used in vehicles, aircraft or ships to Costa Rica, comprising 42% of total imports. The second position in the ranking was taken by Mexico ($X), with a 20% share of total imports. It was followed by China, with a 5.7% share.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-0.9% per year) and China (-3.0% per year).

Import Prices by Country

The average import price for wiring sets used in vehicles, aircraft or ships stood at $X per ton in 2022, surging by 21% against the previous year. Over the period under review, the import price, however, saw a slight setback. The pace of growth was the most pronounced in 2014 when the average import price increased by 39%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Panama ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+21.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform