Guatemala: Crude Granite Market 2024

Crude Granite Market Size in Guatemala

The Guatemalan crude granite market dropped slightly to $X in 2022, which is down by -3.6% against the previous year. Overall, the total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.4% 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 -10.1% against 2017 indices. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Crude Granite Production in Guatemala

In value terms, crude granite production reduced slightly to $X in 2022 estimated in export price. In general, the total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +2.2% 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 -18.1% against 2017 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 76%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Crude Granite Exports

Exports from Guatemala

Crude granite exports from Guatemala rose rapidly to X tons in 2022, surging by 10% against the year before. Overall, exports saw modest growth. The pace of growth appeared the most rapid in 2018 with an increase of 302% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, crude granite exports declined rapidly to $X in 2022. Over the period under review, exports, however, recorded a deep setback. The most prominent rate of growth was recorded in 2021 when exports increased by 172% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for crude granite exports from Guatemala, with a 54% share of total exports. Moreover, crude granite exports to China exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), fourfold. The third position in this ranking was taken by Colombia (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to +16.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-4.6% per year) and Colombia (+14.2% per year).

In value terms, the largest markets for crude granite exported from Guatemala were Hong Kong SAR ($X), China ($X) and Colombia ($X), with a combined 78% share of total exports.

Among the main countries of destination, Colombia, with a CAGR of +8.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average crude granite export price stood at $X per ton in 2022, waning by -52.8% against the previous year. In general, the export price showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 20%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices remained 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 Hong Kong SAR ($X per ton), while the average price for exports to China ($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 Spain (+10.2%), while the prices for the other major destinations experienced a decline.

Crude Granite Imports

Imports into Guatemala

In 2021, crude granite imports into Guatemala soared to X tons, rising by 24% against the previous year. In general, imports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2018 with an increase of 363% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, crude granite imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of 786%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Brazil (X tons) was the main supplier of crude granite to Guatemala, with a approx. 100% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Brazil totaled +7.1%.

In value terms, Brazil ($X) constituted the largest supplier of granite (crude) to Guatemala.

From 2012 to 2021, the average annual growth rate of value from Brazil totaled +12.0%.

Import Prices by Country

The average crude granite import price stood at $X per ton in 2021, with a decrease of -6.5% against the previous year. Overall, the import price, however, posted temperate growth. The pace of growth appeared the most rapid in 2018 when the average import price increased by 91% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Brazil.

From 2012 to 2021, the rate of growth in terms of prices for Brazil amounted to +4.5% per year.

Source: IndexBox Platform