Cuba: Domestic Appliances Market 2024

Domestic Appliances Market Size in Cuba

The Cuban domestic appliances market fell to $X in 2021, reducing by -9.2% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. Domestic appliances consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Domestic Appliances Production in Cuba

In value terms, domestic appliances production fell significantly to $X in 2021 estimated in export price. Overall, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the production volume increased by 63% against the previous year. As a result, production attained the peak level of $X, and then fell significantly in the following year.

Domestic Appliances Exports

Exports from Cuba

In 2021, approx. X units of domestic appliances were exported from Cuba; picking up by 217% against the previous year's figure. Over the period under review, exports, however, continue to indicate a abrupt decrease. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, domestic appliances exports surged to $X in 2021. Overall, exports continue to indicate a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Panama (X units) was the main destination for domestic appliances exports from Cuba, with a 30% share of total exports. Moreover, domestic appliances exports to Panama exceeded the volume sent to the second major destination, the Dominican Republic (X units), more than tenfold. The third position in this ranking was taken by Angola (X units), with a 2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Panama amounted to +3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (+51.1% per year) and Angola (-30.2% per year).

In value terms, Panama ($X) remains the key foreign market for domestic appliances exports from Cuba, comprising 2.9% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 0.2% share of total exports. It was followed by the Dominican Republic, with a 0.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Panama amounted to -3.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (0.0% per year) and the Dominican Republic (+37.2% per year).

Export Prices by Country

In 2021, the average domestic appliances export price amounted to $X per unit, with a decrease of -3.8% against the previous year. In general, the export price, however, continues to indicate a resilient expansion. The pace of growth was the most pronounced in 2013 when the average export price increased by 68%. Over the period under review, the average export prices reached the maximum at $X per unit in 2020, and then shrank modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Pakistan ($X per unit), while the average price for exports to the Dominican Republic ($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 Angola (+0.2%), while the prices for the other major destinations experienced a decline.

Domestic Appliances Imports

Imports into Cuba

In 2021, approx. X units of domestic appliances were imported into Cuba; increasing by 10% compared with 2020. Over the period under review, imports, however, faced a abrupt decline. The pace of growth appeared the most rapid in 2015 when imports increased by 41%. Imports peaked at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, domestic appliances imports declined dramatically to $X in 2021. Overall, imports, however, continue to indicate a slight slump. The pace of growth appeared the most rapid in 2015 with an increase of 36% 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

Panama (X units), China (X units) and Portugal (X units) were the main suppliers of domestic appliances imports to Cuba.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Portugal (with a CAGR of +16.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Panama ($X), China ($X) and Portugal ($X) appeared to be the largest domestic appliances suppliers to Cuba, with a combined 74% share of total imports. These countries were followed by Spain, Mexico and Brazil, which together accounted for a further 7.5%.

Spain, with a CAGR of +11.1%, recorded 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

The average domestic appliances import price stood at $X per unit in 2021, falling by -24.7% against the previous year. Overall, import price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +9.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, domestic appliances import price increased by +16.2% against 2019 indices. The pace of growth appeared the most rapid in 2013 an increase of 114% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2020, and then contracted markedly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Spain ($X per unit), while the price for Portugal ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+3.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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