Guatemala: Festive Articles Market 2024

Festive Articles Market Size in Guatemala

In 2022, the Guatemalan festive articles market increased by 8.1% to $X, rising for the third year in a row after two years of decline. In general, the total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +62.1% against 2019 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Festive Articles Production in Guatemala

In value terms, festive articles production rose sharply to $X in 2022 estimated in export price. Overall, production, however, saw a slight setback. The pace of growth appeared the most rapid in 2020 when the production volume increased by 27%. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Festive Articles Exports

Exports from Guatemala

In 2022, approx. X tons of festive or carnival articles were exported from Guatemala; with an increase of 4.8% on 2021. Over the period under review, exports, however, showed a pronounced reduction. The pace of growth appeared the most rapid in 2019 when exports increased by 25%. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, festive articles exports rose sharply to $X in 2022. In general, exports, however, continue to indicate a mild decrease. The most prominent rate of growth was recorded in 2021 with an increase of 42% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

El Salvador (X tons), the Dominican Republic (X tons) and Honduras (X tons) were the main destinations of festive articles exports from Guatemala, with a combined 73% share of total exports. Nicaragua, Ecuador, the United States, Costa Rica and Panama lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the biggest increases were recorded for Ecuador (with a CAGR of +61.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, El Salvador ($X), the Dominican Republic ($X) and the United States ($X) appeared to be the largest markets for festive articles exported from Guatemala worldwide, with a combined 79% share of total exports. Ecuador, Honduras, Costa Rica, Nicaragua and Panama lagged somewhat behind, together comprising a further 21%.

In terms of the main countries of destination, Ecuador, with a CAGR of +65.2%, saw 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

The average festive articles export price stood at $X per ton in 2022, growing by 3.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2021 when the average export price increased by 37%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Nicaragua ($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 United States (+11.4%), while the prices for the other major destinations experienced more modest paces of growth.

Festive Articles Imports

Imports into Guatemala

Festive articles imports into Guatemala expanded slightly to X tons in 2022, increasing by 4.2% against 2021. In general, imports recorded a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 78%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, festive articles imports totaled $X in 2022. Over the period under review, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2015 with an increase of 41% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest festive articles supplier to Guatemala, with a 87% share of total imports. Moreover, festive articles imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold. Mexico (X tons) ranked third in terms of total imports with a 2.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +30.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-0.0% per year) and Mexico (-6.2% per year).

In value terms, China ($X) constituted the largest supplier of festive or carnival articles to Guatemala, comprising 68% of total imports. The second position in the ranking was held by the United States ($X), with a 20% share of total imports. It was followed by Mexico, with a 6% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +32.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+3.4% per year) and Mexico (-5.2% per year).

Import Prices by Country

In 2022, the average festive articles import price amounted to $X per ton, surging by 4.7% against the previous year. Over the period under review, the import price, however, showed a noticeable reduction. The pace of growth appeared the most rapid in 2015 an increase of 11%. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Honduras (+15.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform