Cuba: Plastic Furniture Market 2024

Plastic Furniture Market Size in Cuba

The Cuban plastic furniture market totaled $X in 2021, picking up by 5.2% against the previous year. Over the period under review, consumption continues to indicate a strong expansion. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Plastic Furniture Production in Cuba

In value terms, plastic furniture production fell to $X in 2021 estimated in export price. In general, production saw prominent growth. The pace of growth appeared the most rapid in 2013 with an increase of 128%. Plastic furniture production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Plastic Furniture Exports

Exports from Cuba

In 2021, plastic furniture exports from Cuba soared to X units, growing by 283% compared with the year before. Overall, exports, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2015 when exports increased by 909% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, plastic furniture exports skyrocketed to $X in 2021. In general, exports, however, continue to indicate a sharp decline. The growth pace was the most rapid in 2015 with an increase of 1,722%. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Spain (X units), Angola (X units) and Costa Rica (X units) were the main destinations of plastic furniture exports from Cuba.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Costa Rica (with a CAGR of +2.3%), while the other leaders experienced mixed trend patterns.

In value terms, Spain ($X) emerged as the key foreign market for plastic furniture exports from Cuba, comprising 70% of total exports. The second position in the ranking was taken by Costa Rica ($X), with a 15% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Spain was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (-3.4% per year) and Angola (-40.3% per year).

Export Prices by Country

The average plastic furniture export price stood at $X per unit in 2021, dropping by -43.8% against the previous year. Overall, the export price showed a perceptible slump. The growth pace was the most rapid in 2020 when the average export price increased by 151% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Spain ($X per unit), while the average price for exports to Angola ($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 Panama (-0.6%), while the prices for the other major destinations experienced a decline.

Plastic Furniture Imports

Imports into Cuba

In 2021, overseas purchases of furniture of plastic were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, recorded a abrupt downturn. Imports peaked at X units in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, plastic furniture imports shrank to $X in 2021. Overall, imports, however, showed a deep reduction. The pace of growth appeared the most rapid in 2017 when imports increased by 68%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Turkey (X units) constituted the largest plastic furniture supplier to Cuba, with a 59% share of total imports. Moreover, plastic furniture imports from Turkey exceeded the figures recorded by the second-largest supplier, Canada (X units), fivefold. The third position in this ranking was taken by China (X units), with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey totaled +72.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+16.8% per year) and China (-16.8% per year).

In value terms, Turkey ($X) constituted the largest supplier of plastic furniture to Cuba, comprising 41% of total imports. The second position in the ranking was taken by Canada ($X), with a 15% share of total imports. It was followed by Spain, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Turkey amounted to +71.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+12.9% per year) and Spain (+24.3% per year).

Import Prices by Country

In 2021, the average plastic furniture import price amounted to $X per unit, reducing by -50% against the previous year. Over the period under review, the import price recorded a deep reduction. The pace of growth was the most pronounced in 2020 when the average import price increased by 24% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+7.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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