Cuba: Explosives Market 2024

Explosives Market Size in Cuba

The Cuban explosives market shrank significantly to $X in 2021, with a decrease of -17.9% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. Explosives consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Explosives Production in Cuba

In value terms, explosives production reduced sharply to $X in 2021 estimated in export price. Overall, the total production indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +28.9% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 58% against the previous year. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Explosives Exports

Exports from Cuba

In 2021, shipments abroad of prepared explosives decreased by -1.7% to X tons, falling for the fourth consecutive year after two years of growth. Overall, exports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of 312%. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, explosives exports soared to $X in 2021. In general, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 254% against the previous year. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Trinidad and Tobago (X tons), Suriname (X tons) and Panama (X tons) were the main destinations of explosives exports from Cuba, together accounting for 86% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Suriname (with a CAGR of +34.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for explosives exported from Cuba were Trinidad and Tobago ($X), Suriname ($X) and Saint Vincent and the Grenadines ($X), with a combined 87% share of total exports.

In terms of the main countries of destination, Suriname, with a CAGR of +39.9%, recorded the highest growth rate of the value of exports, 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 explosives export price amounted to $X per ton, surging by 18% against the previous year. Over the period under review, export price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +9.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, explosives export price increased by +40.1% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by 44% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Saint Vincent and the Grenadines ($X per ton), while the average price for exports to Panama ($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 Trinidad and Tobago (+14.2%), while the prices for the other major destinations experienced more modest paces of growth.

Explosives Imports

Imports into Cuba

In 2021, approx. X tons of prepared explosives were imported into Cuba; which is down by -12% against the year before. In general, imports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2017 with an increase of 467% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, explosives imports dropped to $X in 2021. Overall, imports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2017 with an increase of 186%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, the Netherlands (X tons) was the main explosives supplier to Cuba, accounting for a approx. 100% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from the Netherlands amounted to -14.7%.

In value terms, the Netherlands ($X) constituted the largest supplier of prepared explosives to Cuba.

From 2012 to 2021, the average annual rate of growth in terms of value from the Netherlands totaled -12.5%.

Import Prices by Country

The average explosives import price stood at $X per ton in 2021, growing by 4.5% against the previous year. Overall, the import price recorded a noticeable increase. The pace of growth appeared the most rapid in 2018 when the average import price increased by 459%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for the Netherlands.

From 2012 to 2021, the rate of growth in terms of prices for Bolivia amounted to +432.3% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :