Guatemala: Non-Electric Motor Handtools Market 2024

Non-Electric Motor Handtools Market Size in Guatemala

In 2022, after two years of growth, there was significant decline in the Guatemalan non-electric motor handtools market, when its value decreased by -7.4% to $X. Overall, consumption, however, showed strong growth. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Non-Electric Motor Handtools Production in Guatemala

In value terms, non-electric motor handtools production amounted to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with a decrease of 99.9% against the previous year. Non-electric motor handtools production peaked in 2022 and is expected to retain growth in the immediate term.

Non-Electric Motor Handtools Exports

Exports from Guatemala

In 2022, the amount of handtools, hydraulic or with a self-contained non-electric motor exported from Guatemala soared to X units, growing by 29% on the year before. Overall, exports, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2014 with an increase of 143% against the previous year. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, non-electric motor handtools exports rose sharply to $X in 2022. In general, exports, however, recorded a abrupt shrinkage. The growth pace was the most rapid in 2019 with an increase of 181% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units), El Salvador (X units) and Honduras (X units) were the main destinations of non-electric motor handtools exports from Guatemala, together comprising 92% of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +35.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) emerged as the key foreign market for handtools, hydraulic or with a self-contained non-electric motor exports from Guatemala, comprising 56% of total exports. The second position in the ranking was taken by El Salvador ($X), with a 24% share of total exports. It was followed by Honduras, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +38.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+9.9% per year) and Honduras (+24.8% per year).

Export Prices by Country

The average non-electric motor handtools export price stood at $X per unit in 2022, dropping by -18% against the previous year. In general, the export price saw a slight shrinkage. The pace of growth appeared the most rapid in 2019 when the average export price increased by 54% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nicaragua (+14.5%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Electric Motor Handtools Imports

Imports into Guatemala

After two years of growth, supplies from abroad of handtools, hydraulic or with a self-contained non-electric motor decreased by -24.3% to X units in 2022. Overall, imports, however, continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2021 with an increase of 119%. As a result, imports reached the peak of X units, and then dropped sharply in the following year.

In value terms, non-electric motor handtools imports dropped modestly to $X in 2022. Over the period under review, imports, however, saw resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 96%. As a result, imports attained the peak of $X, leveling off in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of non-electric motor handtools to Guatemala, with a 39% share of total imports. Moreover, non-electric motor handtools imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), twofold. The third position in this ranking was taken by the United States (X units), with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +17.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+22.9% per year) and the United States (+9.2% per year).

In value terms, China ($X) constituted the largest supplier of handtools, hydraulic or with a self-contained non-electric motor to Guatemala, comprising 55% of total imports. The second position in the ranking was taken by Brazil ($X), with a 25% share of total imports. It was followed by the Netherlands, with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +28.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+23.3% per year) and the Netherlands (+79.8% per year).

Import Prices by Country

In 2022, the average non-electric motor handtools import price amounted to $X per unit, jumping by 31% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Brazil ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform