Report Update Nov 1, 2024

Cuba - Hand Tools - Market Analysis, Forecast, Size, Trends and Insights

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Cuba: Hand Tools Market 2024

Hand Tools Market Size in Cuba

In 2021, after five years of decline, there was significant growth in the Cuban hand tools market, when its value increased by 200% to $X. Overall, consumption continues to indicate a pronounced increase. Hand tools consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Hand Tools Exports

Exports from Cuba

In 2021, shipments abroad of hand tools decreased by -60.9% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports saw a sharp curtailment. The pace of growth was the most pronounced in 2019 with an increase of 309% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, hand tools exports declined sharply to $X in 2021. Overall, exports faced a precipitous setback. The most prominent rate of growth was recorded in 2016 with an increase of 328% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Venezuela (X kg) was the main destination for hand tools exports from Cuba, with a 52% share of total exports. Moreover, hand tools exports to Venezuela exceeded the volume sent to the second major destination, Panama (X kg), threefold. France (X kg) ranked third in terms of total exports with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Venezuela stood at -29.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+12.8% per year) and France (+34.2% per year).

In value terms, France ($X), Peru ($X) and Panama ($X) appeared to be the largest markets for hand tools exported from Cuba worldwide, with a combined 71% share of total exports.

Peru, with a CAGR of +83.6%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average hand tools export price amounted to $X per ton, increasing by 31% against the previous year. Overall, the export price, however, saw a perceptible downturn. The pace of growth appeared the most rapid in 2016 an increase of 229% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to Spain ($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 (+104.7%), while the prices for the other major destinations experienced more modest paces of growth.

Hand Tools Imports

Imports into Cuba

In 2021, purchases abroad of hand tools was finally on the rise to reach X tons after three years of decline. Overall, imports enjoyed moderate growth. Imports peaked at X tons in 2015; afterwards, it flattened through to 2021.

In value terms, hand tools imports soared to $X in 2021. In general, imports saw a relatively flat trend pattern. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of hand tools to Cuba, with a 39% share of total imports. Moreover, hand tools imports from Spain exceeded the figures recorded by the second-largest supplier, China (X tons), sevenfold. Portugal (X tons) ranked third in terms of total imports with a 3.4% share.

From 2012 to 2021, the average annual growth rate of volume from Spain amounted to +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-7.8% per year) and Portugal (+37.4% per year).

In value terms, Spain ($X) constituted the largest supplier of hand tools to Cuba, comprising 39% of total imports. The second position in the ranking was held by Russia ($X), with a 3.7% share of total imports. It was followed by China, with a 2.9% share.

From 2012 to 2021, the average annual growth rate of value from Spain amounted to -2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+9.1% per year) and China (-14.6% per year).

Import Prices by Country

In 2021, the average hand tools import price amounted to $X per ton, shrinking by -20.8% against the previous year. In general, the import price continues to indicate a pronounced downturn. The pace of growth appeared the most rapid in 2020 an increase of 16%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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 Russia ($X per ton), while the price for Portugal ($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 (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for hand tools in the world?

The countries with the highest volumes of hand tools consumption in 2020 were China, the United States and Russia, together accounting for 46% of global consumption.

What are the largest producers of hand tools in the world?

China remains the largest hand tools producing country worldwide, accounting for 62% of total volume. Moreover, hand tools production in China exceeded the figures recorded by the second-largest producer, the United States, ninefold. The third position in this ranking was occupied by Taiwan Chinese), with a 6% share.

What are the leading suppliers of hand tools to Cuba?

In value terms, Spain constituted the largest supplier of hand tools to Cuba, comprising 61% of total imports. The second position in the ranking was occupied by Canada, with a 14% share of total imports. It was followed by Mexico, with an 8.4% share.

What are the leading importers of hand tools from Cuba?

In value terms, France remains the key foreign market for hand tools exports from Cuba, comprising 44% of total exports. The second position in the ranking was occupied by Venezuela, with a 17% share of total exports. It was followed by South Africa, with a 15% share.

What is the average export price for hand tools in Cuba?

The average hand tools export price stood at $4,087 per ton in 2020, shrinking by -29.8% against the previous year.

What is the average import price for hand tools in Cuba?

The average hand tools import price stood at $11,732 per ton in 2020, therefore, remained relatively stable against the previous year.

This report provides an in-depth analysis of the hand tools market in Cuba. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 25731010 - Spades and shovels
Prodcom 25731020 -
Prodcom 25731030 - Mattocks, picks, hoes and rakes
Prodcom 25731040 - Axes, bill hooks and similar hewing tools (excluding ice axes)
Prodcom 25731050 - Secateurs and similar one-handed pruners and shears (including poultry shears) (excluding secateur type scissors with secateur blades with finger rings, pruning knives)
Prodcom 25731060 - Hedge shears, two-handed pruning shears and similar twohanded shears
Prodcom 25731070 -
Prodcom 25732010 - Hand saws (excluding hand saws with a self-contained motor)
Prodcom 25732020 - Band saw blades
Prodcom 25732030 - Circular saw blades with steel working parts (including slotting or slitting saw blades)
Prodcom 25732050 - Circular saw blades with non-steel working parts (including slitting or slotting saw blades, parts)
Prodcom 25732093 - Straight saw blades for working metal
Prodcom 25732095 -
Prodcom 25732099 -
Prodcom 25733013 - Files, rasps and similar tools (excluding punches and files for machine tools)
Prodcom 25733015 -
Prodcom 25733017 -
Prodcom 25733023 - Metal cutting shears and similar hand tools
Prodcom 25733025 - Pipe-cutters, bolt croppers, perforating punches and similar tools excluding punches and files for machine tools, machinetype metal cutting shears and office perforating punches, t icket punches
Prodcom 25733033 - Non-adjustable hand-operated spanners and wrenches (including torque meter wrenches) (excluding tap wrenches)
Prodcom 25733035 - Adjustable hand-operated spanners and wrenches (including torque meter wrenches) (excluding tap wrenches)
Prodcom 25733037 - Interchangeable spanner sockets
Prodcom 25733053 - Drilling, threading or tapping hand tools excluding interchangeable hand tools, machine-tools or power-operated hand tools, pneumatic tools or hand tools with a selfcontained motor
Prodcom 25733055 - Hammers and sledge hammers with working part of metal
Prodcom 25733057 - Planes, chisels, gouges and similar cutting tools for working wood
Prodcom 25733063 - Screwdrivers
Prodcom 25733065 - Household hand tools
Prodcom 25733073 - Other tools for masons, moulders, cement workers, plasterers and painters
Prodcom 25733077 - Other hand tools (including cartridge operated riveting) w allplugging and similar hand tools
Prodcom 25733083 - Blow lamps (excluding gas-operated welding appliances)
Prodcom 25733085 - Vices, clamps and the like
Prodcom 25733087 - Anvils, portable forges, hand or pedal-operated grinding wheels with frameworks (excluding grindstones and the like presented separately)
Prodcom 25732097 - Saw blades with working part of base metal (excluding band saw blades, circular saw blades, musical saw blades)
Prodcom 25733016 - Pliers, including cutting pliers, pincers and tweezers for nonmedical use and similar hand tools, of base metal

Country coverage:

Cuba

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Cuba
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023