Cuba: Spirits And Liqueurs Market 2024

Spirits And Liqueurs Market Size in Cuba

In 2021, the Cuban spirits and liqueurs market decreased by -14.1% to $X, falling for the second year in a row after three years of growth. In general, consumption continues to indicate a perceptible shrinkage. Spirits and liqueurs consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Spirits And Liqueurs Production in Cuba

In value terms, spirits and liqueurs production surged to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a mild decline. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Spirits And Liqueurs Exports

Exports from Cuba

After three years of decline, overseas shipments of spirits, liqueurs and other spirituous beverages increased by 85% to X litres in 2021. In general, total exports indicated tangible growth from 2012 to 2021: its volume increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, spirits and liqueurs exports skyrocketed to $X in 2021. Over the period under review, total exports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Spain (X litres) was the main destination for spirits and liqueurs exports from Cuba, with a 37% share of total exports. Moreover, spirits and liqueurs exports to Spain exceeded the volume sent to the second major destination, Germany (X litres), tenfold. The third position in this ranking was taken by Italy (X litres), with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Spain totaled -2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+8.1% per year) and Italy (+2.3% per year).

In value terms, Spain ($X) remains the key foreign market for spirits, liqueurs and other spirituous beverages exports from Cuba, comprising 27% of total exports. The second position in the ranking was taken by Germany ($X), with an 8.2% share of total exports. It was followed by Italy, with a 2.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Spain stood at -3.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+10.8% per year) and Italy (-4.7% per year).

Export Prices by Country

In 2021, the average spirits and liqueurs export price amounted to $X per litre, waning by -4% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 12%. The export price peaked at $X per litre in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was France ($X per litre), while the average price for exports to Argentina ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+14.3%), while the prices for the other major destinations experienced more modest paces of growth.

Spirits And Liqueurs Imports

Imports into Cuba

In 2021, purchases abroad of spirits, liqueurs and other spirituous beverages increased by 36% to X litres for the first time since 2017, thus ending a three-year declining trend. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 71%. Imports peaked at X litres in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, spirits and liqueurs imports dropped to $X in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 71%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Spain (X litres) constituted the largest supplier of spirits and liqueurs to Cuba, accounting for a 43% share of total imports. Moreover, spirits and liqueurs imports from Spain exceeded the figures recorded by the second-largest supplier, the UK (X litres), fivefold. Italy (X litres) ranked third in terms of total imports with a 5.2% share.

From 2012 to 2021, the average annual growth rate of volume from Spain amounted to +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-0.1% per year) and Italy (+5.7% per year).

In value terms, the largest spirits and liqueurs suppliers to Cuba were Spain ($X), the UK ($X) and Italy ($X), with a combined 67% share of total imports. These countries were followed by Brazil, Angola and France, which together accounted for a further 2.8%.

Angola, with a CAGR of +548.4%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average spirits and liqueurs import price stood at $X per litre in 2021, with a decrease of -36.2% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 17% against the previous year. The import price peaked at $X per litre in 2019; however, from 2020 to 2021, 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 the UK ($X per litre), while the price for Brazil ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+12.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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