Guatemala: Leather Sports Gloves Market 2024

Leather Sports Gloves Market Size in Guatemala

The Guatemalan leather sports gloves market contracted sharply to $X in 2022, dropping by -30% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, showed a strong increase. Over the period under review, the market hit record highs at $X in 2021, and then dropped sharply in the following year.

Leather Sports Gloves Exports

Exports from Guatemala

In 2022, overseas shipments of leather sports gloves, mittens and mitts were finally on the rise to reach X units for the first time since 2016, thus ending a five-year declining trend. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 34,713%. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, leather sports gloves exports surged to $X in 2022. In general, exports, however, saw a deep contraction. The pace of growth was the most pronounced in 2016 when exports increased by 61,960%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Costa Rica (X units), Nicaragua (X units) and El Salvador (X units) were the main destinations of leather sports gloves exports from Guatemala, together accounting for 90% of total exports. Mexico, Honduras and the United States lagged somewhat behind, together accounting for a further 10%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +146.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Nicaragua ($X), Honduras ($X) and Costa Rica ($X) appeared to be the largest markets for leather sports gloves exported from Guatemala worldwide, together comprising 76% of total exports. El Salvador, the United States and Mexico lagged somewhat behind, together accounting for a further 24%.

Among the main countries of destination, Mexico, with a CAGR of +192.4%, recorded 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

In 2022, the average leather sports gloves export price amounted to $X per unit, which is down by -77.1% against the previous year. In general, the export price recorded a deep downturn. The pace of growth was the most pronounced in 2016 an increase of 78%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Honduras ($X per unit), while the average price for exports to Costa Rica ($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 Mexico (+18.5%), while the prices for the other major destinations experienced mixed trend patterns.

Leather Sports Gloves Imports

Imports into Guatemala

In 2022, imports of leather sports gloves, mittens and mitts into Guatemala fell remarkably to X units, which is down by -39.8% on 2021 figures. Over the period under review, imports, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2019 when imports increased by 47%. Over the period under review, imports hit record highs at X units in 2021, and then shrank dramatically in the following year.

In value terms, leather sports gloves imports shrank sharply to $X in 2022. Overall, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +2.8% against 2020 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 61% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then fell sharply in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of leather sports gloves to Guatemala, with a 81% share of total imports. Moreover, leather sports gloves imports from China exceeded the figures recorded by the second-largest supplier, Pakistan (X units), more than tenfold. Vietnam (X units) ranked third in terms of total imports with a 3.8% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +12.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (+2.6% per year) and Vietnam (+409.9% per year).

In value terms, China ($X) constituted the largest supplier of leather sports gloves, mittens and mitts to Guatemala, comprising 44% of total imports. The second position in the ranking was held by Vietnam ($X), with an 18% share of total imports. It was followed by the United States, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +19.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+416.7% per year) and the United States (-3.6% per year).

Import Prices by Country

In 2022, the average leather sports gloves import price amounted to $X per unit, picking up by 27% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 34% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform