Cuba: Storage Unit Market 2025

Storage Unit Market Size in Cuba

The Cuban storage unit market contracted markedly to $X in 2021, waning by -49.7% against the previous year. In general, consumption, however, recorded a significant expansion. As a result, consumption attained the peak level of $X, and then declined sharply in the following year.

Storage Unit Production in Cuba

In value terms, storage unit production dropped rapidly to $X in 2021 estimated in export price. In general, production, however, showed a significant expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by 14,518%. As a result, production reached the peak level of $X, and then contracted sharply in the following year.

Storage Unit Exports

Exports from Cuba

In 2021, overseas shipments of storage units decreased by -47.6% to X units, falling for the third year in a row after two years of growth. In general, exports faced a sharp reduction. The most prominent rate of growth was recorded in 2017 with an increase of 233,900% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, storage unit exports dropped sharply to $X in 2021. Over the period under review, exports showed a deep reduction. The pace of growth was the most pronounced in 2018 with an increase of 49,834%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Spain (X units), China (X units) and the Netherlands (X units) were the main destinations of storage unit exports from Cuba, with a combined 73% share of total exports. Germany and France lagged somewhat behind, together comprising a further 27%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of 0.0%), while the other leaders experienced a decline.

In value terms, China ($X) remains the key foreign market for storage unit exports from Cuba, comprising 62% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 16% share of total exports. It was followed by Spain, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to +3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-2.3% per year) and Spain (-7.6% per year).

Export Prices by Country

The average storage unit export price stood at $X per unit in 2021, shrinking by -16.3% against the previous year. Over the period under review, the export price, however, showed a significant increase. The most prominent rate of growth was recorded in 2019 an increase of 53,020% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2020 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was China ($X per unit), while the average price for exports to Germany ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+19.1%), while the prices for the other major destinations experienced more modest paces of growth.

Storage Unit Imports

Imports into Cuba

In 2021, purchases abroad of storage units was finally on the rise to reach X units after two years of decline. In general, imports recorded a noticeable increase. The pace of growth appeared the most rapid in 2015 when imports increased by 98% against the previous year. As a result, imports attained the peak of X units. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, storage unit imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a perceptible descent. The growth pace was the most rapid in 2015 when imports increased by 130% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Hong Kong SAR (X units) constituted the largest supplier of storage unit to Cuba, accounting for a 80% share of total imports. Moreover, storage unit imports from Hong Kong SAR exceeded the figures recorded by the second-largest supplier, Canada (X units), more than tenfold. Spain (X units) ranked third in terms of total imports with a 4.2% share.

From 2012 to 2021, the average annual growth rate of volume from Hong Kong SAR amounted to +16.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-1.6% per year) and Spain (+32.9% per year).

In value terms, the largest storage unit suppliers to Cuba were Hong Kong SAR ($X), China ($X) and Spain ($X), together comprising 82% of total imports.

Spain, with a CAGR of +36.5%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average storage unit import price amounted to $X per unit, declining by -5.1% against the previous year. Overall, the import price showed a deep contraction. The most prominent rate of growth was recorded in 2018 when the average import price increased by 55%. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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