Cuba: Computing Machinery Market 2024

Computing Machinery Market Size in Cuba

In 2021, the Cuban computing machinery market was finally on the rise to reach $X after two years of decline. In general, consumption continues to indicate a modest expansion. Computing machinery consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Computing Machinery Exports

Exports from Cuba

In 2021, overseas shipments of computing machinery and parts and accessories thereof decreased by -58.9% to X tons, falling for the second year in a row after three years of growth. Overall, exports recorded a dramatic descent. The growth pace was the most rapid in 2018 when exports increased by 426% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, computing machinery exports reduced dramatically to $X in 2021. Over the period under review, exports recorded a dramatic shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 155% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Spain (X tons) was the main destination for computing machinery exports from Cuba, with a 28% share of total exports. Moreover, computing machinery exports to Spain exceeded the volume sent to the second major destination, Germany (X kg), twofold. The third position in this ranking was held by Serbia (X kg), with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Spain amounted to +25.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+64.1% per year) and Serbia (+3.3% per year).

In value terms, Spain ($X) emerged as the key foreign market for computing machinery and parts and accessories thereof exports from Cuba, comprising 64% of total exports. The second position in the ranking was held by Germany ($X), with a 20% share of total exports. It was followed by Portugal, with an 18% share.

From 2012 to 2021, the average annual growth rate of value to Spain stood at +34.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+49.0% per year) and Portugal (+157.1% per year).

Export Prices by Country

The average computing machinery export price stood at $X per ton in 2021, surging by 31% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average export price increased by 69%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average 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 Spain ($X per ton), while the average price for exports to Denmark ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Portugal (+38.6%), while the prices for the other major destinations experienced more modest paces of growth.

Computing Machinery Imports

Imports into Cuba

In 2021, after two years of decline, there was significant growth in overseas purchases of computing machinery and parts and accessories thereof, when their volume increased by 139% to X tons. Overall, imports showed a relatively flat trend pattern. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, computing machinery imports soared to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

Spain (X tons), China (X tons) and Panama (X tons) were the main suppliers of computing machinery imports to Cuba, together accounting for 34% of total imports. Mexico, Canada, the Netherlands, the Czech Republic, Italy, Japan and Vietnam lagged somewhat behind, together comprising a further 15%.

From 2012 to 2021, the biggest increases were recorded for the Czech Republic (with a CAGR of +46.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) constituted the largest supplier of computing machinery and parts and accessories thereof to Cuba, comprising 28% of total imports. The second position in the ranking was held by Canada ($X), with an 11% share of total imports. It was followed by Mexico, with a 9.3% share.

From 2012 to 2021, the average annual growth rate of value from Spain amounted to +23.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-13.6% per year) and Mexico (+6.9% per year).

Import Prices by Country

In 2021, the average computing machinery import price amounted to $X per ton, which is down by -29.2% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average import price increased by 38%. As a result, import price reached the peak level of $X per ton, and then dropped remarkably in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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