Czech Republic: Rum Market 2024

Rum Market Size in the Czech Republic

The Czech rum market shrank to $X in 2022, falling by -8.1% against the previous year. Overall, consumption, however, enjoyed a buoyant increase. As a result, consumption attained the peak level of $X, and then dropped in the following year.

Rum Production in the Czech Republic

In value terms, rum production plummeted to $X in 2022 estimated in export price. Over the period under review, production, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2021 when the production volume increased by 63%. As a result, production attained the peak level of $X, and then plummeted in the following year.

Rum Exports

Exports from the Czech Republic

In 2022, exports of rum from the Czech Republic expanded modestly to X litres, increasing by 2.4% compared with the previous year. Over the period under review, exports showed a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of 40% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, rum exports dropped to $X in 2022. Overall, exports recorded a significant expansion. The growth pace was the most rapid in 2017 when exports increased by 85% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then fell in the following year.

Exports by Country

Slovakia (X litres) was the main destination for rum exports from the Czech Republic, with a 70% share of total exports. Moreover, rum exports to Slovakia exceeded the volume sent to the second major destination, Germany (X litres), fivefold. Poland (X litres) ranked third in terms of total exports with a 7.6% share.

From 2012 to 2022, the average annual growth rate of volume to Slovakia totaled +15.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+44.0% per year) and Poland (+101.0% per year).

In value terms, Slovakia ($X) remains the key foreign market for rum exports from the Czech Republic, comprising 70% of total exports. The second position in the ranking was taken by Germany ($X), with a 16% share of total exports. It was followed by Austria, with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Slovakia totaled +28.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+57.9% per year) and Austria (+135.0% per year).

Export Prices by Country

The average rum export price stood at $X per litre in 2022, with a decrease of -8.7% against the previous year. Overall, the export price, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2014 an increase of 54%. Over the period under review, the average export prices hit record highs at $X per litre in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Latvia ($X per litre), while the average price for exports to Poland ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia (+11.4%), while the prices for the other major destinations experienced more modest paces of growth.

Rum Imports

Imports into the Czech Republic

In 2022, approx. X litres of rum were imported into the Czech Republic; increasing by 3% on 2021 figures. Overall, imports showed a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 52%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, rum imports contracted to $X in 2022. Over the period under review, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2021 when imports increased by 47%. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

The Netherlands (X litres), Cuba (X litres) and Panama (X litres) were the main suppliers of rum imports to the Czech Republic, with a combined 47% share of total imports. These countries were followed by Venezuela, Slovakia, Germany, the UK, the Dominican Republic, Austria, the Philippines, France, Guatemala and Spain, which together accounted for a further 39%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Philippines (with a CAGR of +57.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Venezuela ($X), the Netherlands ($X) and the UK ($X) constituted the largest rum suppliers to the Czech Republic, with a combined 36% share of total imports. These countries were followed by Panama, the Philippines, France, Guatemala, the Dominican Republic, Cuba, Germany, Spain, Slovakia and Austria, which together accounted for a further 42%.

Among the main suppliers, the Philippines, with a CAGR of +58.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average rum import price amounted to $X per litre, falling by -7.9% against the previous year. Over the period under review, import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +9.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, rum import price decreased by -11.2% against 2020 indices. The most prominent rate of growth was recorded in 2013 an increase of 61%. The import price peaked at $X per litre in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per litre), while the price for Cuba ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+19.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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