Cuba: Pump For Liquid Market 2024

Pump For Liquid Market Size in Cuba

For the third year in a row, the Cuban pump for liquid market recorded decline in sales value, which decreased by -11.3% to $X in 2021. Over the period under review, consumption continues to indicate a deep setback. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Pump For Liquid Production in Cuba

In value terms, pump for liquid production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, showed a deep slump. The pace of growth appeared the most rapid in 2014 when the production volume increased by 127%. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Pump For Liquid Exports

Exports from Cuba

In 2021, the amount of pumps for liquids and liquid elevators exported from Cuba rose sharply to X units, with an increase of 14% against 2020 figures. Overall, exports, however, continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2019 when exports increased by 53%. Over the period under review, the exports attained the maximum at X units in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, pump for liquid exports reduced slightly to $X in 2021. Over the period under review, exports, however, recorded a abrupt decline. The growth pace was the most rapid in 2018 with an increase of 72% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Spain (X units) was the main destination for pump for liquid exports from Cuba, accounting for a 89% share of total exports. Moreover, pump for liquid exports to Spain exceeded the volume sent to the second major destination, the Netherlands (X units), more than tenfold. The third position in this ranking was held by Panama (X units), with a 4% share.

From 2012 to 2021, the average annual growth rate of volume to Spain totaled +15.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+69.7% per year) and Panama (+12.5% per year).

In value terms, Russia ($X) remains the key foreign market for pumps for liquids and liquid elevators exports from Cuba, comprising 71% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 20% share of total exports. It was followed by Spain, with an 8% share.

From 2012 to 2021, the average annual growth rate of value to Russia totaled +19.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+78.9% per year) and Spain (-10.2% per year).

Export Prices by Country

In 2021, the average pump for liquid export price amounted to $X per unit, dropping by -13.7% against the previous year. Overall, the export price, however, posted a strong increase. The most prominent rate of growth was recorded in 2015 when the average export price increased by 112%. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices stood 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 Russia ($X per unit), while the average price for exports to Panama ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ukraine (+294.9%), while the prices for the other major destinations experienced more modest paces of growth.

Pump For Liquid Imports

Imports into Cuba

In 2021, overseas purchases of pumps for liquids and liquid elevators decreased by -20.4% to X units, falling for the second consecutive year after two years of growth. In general, imports recorded a abrupt decline. The pace of growth was the most pronounced in 2019 with an increase of 31% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, pump for liquid imports declined slightly to $X in 2021. Overall, imports recorded a abrupt shrinkage. The growth pace was the most rapid in 2016 with an increase of 24% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X units), Russia (X units) and Panama (X units) were the main suppliers of pump for liquid imports to Cuba, with a combined 71% share of total imports. These countries were followed by Spain, Mexico, Italy, Ecuador and Germany, which together accounted for a further 13%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ecuador (with a CAGR of +28.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) constituted the largest supplier of pumps for liquids and liquid elevators to Cuba, comprising 21% of total imports. The second position in the ranking was taken by Russia ($X), with a 7.6% share of total imports. It was followed by China, with a 7.5% share.

From 2012 to 2021, the average annual growth rate of value from Spain stood at -11.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (-5.9% per year) and China (-3.1% per year).

Import Prices by Country

In 2021, the average pump for liquid import price amounted to $X per unit, with an increase of 25% against the previous year. In general, import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, pump for liquid import price increased by +54.8% against 2019 indices. Over the period under review, average import prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+25.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform