Cuba: Plastic Household Articles Market 2024

Plastic Household Articles Market Size in Cuba

In 2021, the Cuban plastic household articles market was finally on the rise to reach $X after three years of decline. Over the period under review, consumption, however, continues to indicate a deep reduction. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Plastic Household Articles Exports

Exports from Cuba

In 2021, after two years of decline, there was significant growth in overseas shipments of household articles and toilet articles of plastics, when their volume increased by 3,952% to X kg. Overall, exports, however, recorded a deep setback. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, plastic household articles exports surged to $X in 2021. In general, exports, however, showed a perceptible decline. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Angola (X kg) was the main destination for plastic household articles exports from Cuba, accounting for a 71% share of total exports. Moreover, plastic household articles exports to Angola exceeded the volume sent to the second major destination, the Dominican Republic (X kg), sevenfold. Jamaica (X kg) ranked third in terms of total exports with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Angola amounted to +64.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (+5.3% per year) and Jamaica (-18.6% per year).

In value terms, Angola ($X) emerged as the key foreign market for plastic household articles exports from Cuba, comprising 75% of total exports. The second position in the ranking was taken by Panama ($X), with a 20% share of total exports. It was followed by the Dominican Republic, with a 3.9% share.

From 2012 to 2021, the average annual growth rate of value to Angola stood at +53.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+3.2% per year) and the Dominican Republic (-8.9% per year).

Export Prices by Country

The average plastic household articles export price stood at $X per ton in 2021, dropping by -7.7% against the previous year. Overall, the export price, however, saw notable growth. The most prominent rate of growth was recorded in 2015 an increase of 137%. Over the period under review, the average export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Panama ($X per ton), while the average price for exports to Jamaica ($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 Panama (-2.2%), while the prices for the other major destinations experienced a decline.

Plastic Household Articles Imports

Imports into Cuba

In 2021, overseas purchases of household articles and toilet articles of plastics were finally on the rise to reach X tons after three years of decline. Over the period under review, imports, however, continue to indicate a pronounced contraction. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, plastic household articles imports skyrocketed to $X in 2021. In general, imports, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2014 with an increase of 34% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Ecuador (X tons), Spain (X tons) and Turkey (X tons) were the main suppliers of plastic household articles imports to Cuba, with a combined 57% share of total imports. These countries were followed by Gambia, Panama, Portugal, China, the Dominican Republic and Brazil, which together accounted for a further 40%.

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 +38.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Ecuador ($X) and Panama ($X) constituted the largest plastic household articles suppliers to Cuba, together comprising 52% of total imports. Turkey, China, Portugal, the Dominican Republic, Brazil and Gambia lagged somewhat behind, together accounting for a further 43%.

Portugal, with a CAGR of +38.3%, recorded the highest growth rate of the value of imports, among 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 plastic household articles import price amounted to $X per ton, shrinking by -21.5% against the previous year. Over the period under review, the import price saw a noticeable descent. The pace of growth appeared the most rapid in 2016 when the average import price increased by 23%. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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