Cuba: Market for Bromides And Bromide Oxides, Iodides And Iodide Oxides 2024

Market Size for Bromides And Bromide Oxides, Iodides And Iodide Oxides in Cuba

In 2021, the Cuban market for bromides and bromide oxides, iodides and iodide oxides increased by 58% to $X, rising for the second consecutive year after two years of decline. In general, consumption, however, saw a abrupt setback. Bromides, iodides and oxids thereof consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Exports of Bromides And Bromide Oxides, Iodides And Iodide Oxides

Exports from Cuba

In 2021, shipments abroad of bromides and bromide oxides, iodides and iodide oxides was finally on the rise to reach X kg for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, showed a deep slump. The pace of growth was the most pronounced in 2015 when exports increased by 334% against the previous year. The exports peaked at X kg in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, bromides, iodides and oxids thereof exports skyrocketed to $X in 2021. Overall, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when exports increased by 304%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Honduras (X kg) was the main destination for bromides, iodides and oxids thereof exports from Cuba, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Honduras stood at +23.3%.

In value terms, Honduras ($X) also remains the key foreign market for bromides and bromide oxides, iodides and iodide oxides exports from Cuba.

From 2012 to 2021, the average annual rate of growth in terms of value to Honduras totaled +26.3%.

Export Prices by Country

In 2021, the average export price for bromides and bromide oxides, iodides and iodide oxides amounted to $X per ton, rising by 20% against the previous year. Overall, export price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +9.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, bromides, iodides and oxids thereof export price increased by +34.3% against 2018 indices. The most prominent rate of growth was recorded in 2014 an increase of 80%. The export price peaked in 2021 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Honduras.

From 2012 to 2021, the rate of growth in terms of prices for Nicaragua amounted to +42.7% per year.

Imports of Bromides And Bromide Oxides, Iodides And Iodide Oxides

Imports into Cuba

In 2021, approx. X tons of bromides and bromide oxides, iodides and iodide oxides were imported into Cuba; picking up by 99% compared with the previous year's figure. Over the period under review, imports, however, recorded a noticeable decrease. The pace of growth was the most pronounced in 2017 when imports increased by 153% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, bromides, iodides and oxids thereof imports expanded remarkably to $X in 2021. Overall, imports, however, saw a abrupt contraction. The growth pace was the most rapid in 2017 when imports increased by 97% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Spain (X kg) constituted the largest supplier of bromides, iodides and oxids thereof to Cuba, accounting for a 20% share of total imports. Moreover, bromides, iodides and oxids thereof imports from Spain exceeded the figures recorded by the second-largest supplier, Germany (X kg), fivefold. The Netherlands (X kg) ranked third in terms of total imports with a 2.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain totaled +13.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+52.9% per year) and the Netherlands (-44.7% per year).

In value terms, Germany ($X) constituted the largest supplier of bromides and bromide oxides, iodides and iodide oxides to Cuba, comprising 31% of total imports. The second position in the ranking was taken by China ($X), with an 11% share of total imports. It was followed by Spain, with a 9.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +15.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-33.6% per year) and Spain (+1.1% per year).

Import Prices by Country

The average import price for bromides and bromide oxides, iodides and iodide oxides stood at $X per ton in 2021, reducing by -46.7% against the previous year. In general, the import price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2019 when the average import price increased by 30% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was China ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+23.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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