Guatemala: Market for Articles Of Iron Or Steel 2025

Market Size for Articles Of Iron Or Steel in Guatemala

The Guatemalan steel and iron articles market stood at $X in 2022, surging by 4.2% against the previous year. In general, the total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.2% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Articles Of Iron Or Steel in Guatemala

In value terms, steel and iron articles production stood at $X in 2022 estimated in export price. Over the period under review, the total production indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.4% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 36%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Articles Of Iron Or Steel

Exports from Guatemala

In 2022, the amount of articles of iron or steel exported from Guatemala reduced rapidly to X tons, waning by -29.7% against the year before. Overall, exports, however, enjoyed measured growth. The pace of growth appeared the most rapid in 2018 with an increase of 149% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, steel and iron articles exports fell rapidly to $X in 2022. In general, exports continue to indicate a pronounced decline. The growth pace was the most rapid in 2014 with an increase of 41%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

El Salvador (X tons) was the main destination for steel and iron articles exports from Guatemala, accounting for a 44% share of total exports. Moreover, steel and iron articles exports to El Salvador exceeded the volume sent to the second major destination, Honduras (X tons), twofold. Japan (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to El Salvador amounted to +9.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (-2.2% per year) and Japan (+213.1% per year).

In value terms, the largest markets for steel and iron articles exported from Guatemala were Honduras ($X), El Salvador ($X) and Costa Rica ($X), together comprising 62% of total exports. Japan, Nicaragua, the United States and the Dominican Republic lagged somewhat behind, together accounting for a further 35%.

Japan, with a CAGR of +228.4%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average steel and iron articles export price amounted to $X per ton, with an increase of 4.9% against the previous year. Over the period under review, the export price, however, recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 when the average export price increased by 19% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Dominican Republic ($X per ton), while the average price for exports to El Salvador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (+9.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Articles Of Iron Or Steel

Imports into Guatemala

In 2022, purchases abroad of articles of iron or steel increased by 7.6% to X tons, rising for the fourth year in a row after two years of decline. In general, imports enjoyed a strong increase. The pace of growth was the most pronounced in 2016 with an increase of 33%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, steel and iron articles imports rose significantly to $X in 2022. Overall, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2013 when imports increased by 40% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of steel and iron articles to Guatemala, accounting for a 58% share of total imports. Moreover, steel and iron articles imports from China exceeded the figures recorded by the second-largest supplier, Costa Rica (X tons), fourfold. Brazil (X tons) ranked third in terms of total imports with a 7.3% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +31.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Costa Rica (+14.3% per year) and Brazil (+6.5% per year).

In value terms, China ($X) constituted the largest supplier of articles of iron or steel to Guatemala, comprising 42% of total imports. The second position in the ranking was taken by the United States ($X), with a 13% share of total imports. It was followed by Costa Rica, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +31.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-1.3% per year) and Costa Rica (+24.0% per year).

Import Prices by Country

In 2022, the average steel and iron articles import price amounted to $X per ton, picking up by 6.2% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 14%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

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 United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by El Salvador (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform