Cuba: Plastic Packaging Market 2022

Plastic Packaging Market Size in Cuba

The Cuban plastic packaging market expanded notably to $X in 2021, increasing by 8.1% against the previous year. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. Plastic packaging consumption peaked at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Plastic Packaging Production in Cuba

In value terms, plastic packaging production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 29%. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Plastic Packaging Exports

Exports from Cuba

In 2021, overseas shipments of plastic packaging were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, saw a abrupt setback. The pace of growth was the most pronounced in 2018 with an increase of 171%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, plastic packaging exports soared to $X in 2021. In general, exports, however, showed a abrupt contraction. The growth pace was the most rapid in 2016 with an increase of 182% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Slovenia (X tons) was the main destination for plastic packaging exports from Cuba, accounting for a 68% share of total exports. Moreover, plastic packaging exports to Slovenia exceeded the volume sent to the second major destination, Angola (X kg), sixfold. Mexico (X kg) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Slovenia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (+30.1% per year) and Mexico (-29.2% per year).

In value terms, Slovenia ($X) emerged as the key foreign market for plastic packaging exports from Cuba, comprising 81% of total exports. The second position in the ranking was held by Spain ($X), with an 11% share of total exports. It was followed by Mexico, with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Slovenia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+12.6% per year) and Mexico (-35.6% per year).

Export Prices by Country

The average plastic packaging export price stood at $X per ton in 2021, reducing by -5.7% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 80% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 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 Spain ($X per ton), while the average price for exports to Angola ($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 Spain (-2.2%), while the prices for the other major destinations experienced a decline.

Plastic Packaging Imports

Imports into Cuba

Plastic packaging imports into Cuba soared to X tons in 2021, with an increase of 26% on 2020 figures. Over the period under review, imports, however, recorded a noticeable setback. The growth pace was the most rapid in 2015 when imports increased by 45%. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, plastic packaging imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a pronounced slump. The pace of growth appeared the most rapid in 2015 when imports increased by 36%. Over the period under review, imports attained the peak figure 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 plastic packaging supplier to Cuba, with a 45% share of total imports. Moreover, plastic packaging imports from Spain exceeded the figures recorded by the second-largest supplier, Turkey (X tons), threefold. The third position in this ranking was held by Mexico (X tons), with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain totaled +5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+18.6% per year) and Mexico (-18.7% per year).

In value terms, Spain ($X) constituted the largest supplier of plastic packaging to Cuba, comprising 40% of total imports. The second position in the ranking was taken by China ($X), with an 11% share of total imports. It was followed by Mexico, with a 7.8% share.

From 2012 to 2021, the average annual growth rate of value from Spain amounted to +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-6.9% per year) and Mexico (-16.9% per year).

Import Prices by Country

In 2021, the average plastic packaging import price amounted to $X per ton, dropping by -2.6% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 33%. As a result, import price attained the peak level of $X per ton, and then shrank slightly in the following year.

Prices varied noticeably country of origin: the country with the highest price was China ($X per ton), while the price for Bolivia ($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 (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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