Guatemala: Market for Jute And Jute-Like Fibers 2024

Market Size for Jute And Jute-Like Fibers in Guatemala

The Guatemalan jute and jute-like fibers market shrank remarkably to less than $X in 2022, reducing by 99.9% against the previous year. Over the period under review, consumption continues to indicate a precipitous slump. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Jute And Jute-Like Fibers in Guatemala

In value terms, jute and jute-like fibers production fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 36% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

In 2022, the average yield of jute and jute-like fibers in Guatemala amounted to less than X kg per ha, flattening at the year before. Overall, the yield showed a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The jute and jute-like fibers harvested area in Guatemala amounted to less than X ha in 2022, approximately mirroring the previous year. Overall, the harvested area continues to indicate a relatively flat trend pattern.

Exports of Jute And Jute-Like Fibers

Exports from Guatemala

In 2022, approx. X kg of jute and jute-like fibers were exported from Guatemala; shrinking by -14.2% compared with 2021 figures. Overall, exports, however, saw prominent growth. The growth pace was the most rapid in 2020 when exports increased by 256% against the previous year. As a result, the exports reached the peak of X kg. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, jute and jute-like fibers exports shrank dramatically to $X in 2022. In general, exports saw a abrupt contraction. The most prominent rate of growth was recorded in 2016 with an increase of 56%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Belize (X kg) was the main destination for jute and jute-like fibers exports from Guatemala, with a 83% share of total exports. Moreover, jute and jute-like fibers exports to Belize exceeded the volume sent to the second major destination, Honduras (X kg), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Belize amounted to +25.4%.

In value terms, Honduras ($X) emerged as the key foreign market for jute and jute-like fibers exports from Guatemala, comprising 73% of total exports. The second position in the ranking was taken by Belize ($X), with a 27% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Honduras stood at -6.3%.

Export Prices by Country

In 2022, the average jute and jute-like fibers export price amounted to $X per ton, waning by -86.5% against the previous year. Overall, the export price faced a abrupt decrease. The growth pace was the most rapid in 2019 when the average export price increased by 372% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

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 Honduras ($X per ton), while the average price for exports to Belize amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Honduras (+4.7%).

Imports of Jute And Jute-Like Fibers

Imports into Guatemala

In 2022, the amount of jute and jute-like fibers imported into Guatemala declined remarkably to X kg, shrinking by -73.1% against the previous year. Over the period under review, imports continue to indicate a sharp decrease. The smallest decline of -8.5% was in 2021. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, jute and jute-like fibers imports stood at $X in 2022. Overall, imports faced a deep slump. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Panama (X kg), El Salvador (X kg) and the United States (X kg) were the main suppliers of jute and jute-like fibers imports to Guatemala.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +2.9%), while imports for the other leaders experienced a decline.

In value terms, the United States ($X) constituted the largest supplier of jute and jute-like fibers to Guatemala, comprising 73% of total imports. The second position in the ranking was held by El Salvador ($X), with a 20% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: El Salvador (-24.5% per year) and Panama (-19.5% per year).

Import Prices by Country

In 2022, the average jute and jute-like fibers import price amounted to $X per ton, increasing by 277% against the previous year. Overall, the import price showed a remarkable increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Panama ($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 (+12.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform