Cuba: Power Tool Market 2025

Power Tool Market Size in Cuba

The Cuban power tool market shrank to $X in 2021, declining by -10% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Power Tool Exports

Exports from Cuba

In 2021, power tool exports from Cuba reduced sharply to X units, with a decrease of -50% compared with the previous year. In general, exports showed a dramatic descent. The growth pace was the most rapid in 2017 with an increase of 26% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, power tool exports declined remarkably to $X in 2021. Over the period under review, exports continue to indicate a dramatic decrease. The most prominent rate of growth was recorded in 2017 with an increase of 71% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Spain (X units) and Costa Rica (X units) were the main destinations of power tool 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 Spain (with a CAGR of +4.6%).

In value terms, Spain ($X) remains the key foreign market for power tools exports from Cuba, comprising 88% of total exports. The second position in the ranking was taken by Costa Rica ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Spain stood at +13.7%.

Export Prices by Country

In 2021, the average power tool export price amounted to $X per unit, with an increase of 7.9% against the previous year. Overall, the export price saw a buoyant expansion. The most prominent rate of growth was recorded in 2017 an increase of 35% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per unit), while the average price for exports to Costa Rica stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+8.7%), while the prices for the other major destinations experienced mixed trend patterns.

Power Tool Imports

Imports into Cuba

In 2021, the amount of power tools imported into Cuba stood at X units, growing by 3.9% compared with the year before. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 121%. As a result, imports attained the peak of X units. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, power tool imports dropped rapidly to $X in 2021. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 when imports increased by 37% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

Panama (X units), China (X units) and Spain (X units) were the main suppliers of power tool imports to Cuba, together accounting for 44% of total imports. Mexico, Germany, Portugal, the Netherlands and Canada lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2021, the biggest increases were recorded for Portugal (with a CAGR of +40.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest power tool suppliers to Cuba were Panama ($X), Spain ($X) and Mexico ($X), with a combined 44% share of total imports. These countries were followed by Germany, China, Portugal, the Netherlands and Canada, which together accounted for a further 17%.

Portugal, with a CAGR of +46.6%, 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 power tool import price amounted to $X per unit, declining by -27.2% against the previous year. Over the period under review, the import price recorded a slight decrease. The most prominent rate of growth was recorded in 2020 when the average import price increased by 61%. Over the period under review, average import prices attained the peak figure at $X per unit in 2016; however, from 2017 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 Spain ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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