Guatemala: Market for Liquefied Petroleum Gas (LPG) 2025

Market Size for Liquefied Petroleum Gas (LPG) in Guatemala

The Guatemalan liquefied petroleum gas (LPG) market was estimated at $X in 2022, with an increase of 12% 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). Overall, consumption continues to indicate a prominent increase. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Exports of Liquefied Petroleum Gas (LPG)

Exports from Guatemala

In 2022, the amount of liquefied petroleum gas (LPG) exported from Guatemala contracted slightly to X tons, with a decrease of -4.6% on 2021. Over the period under review, exports, however, saw a resilient increase. The pace of growth appeared the most rapid in 2015 with an increase of 48%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, liquefied petroleum gas (LPG) exports surged to $X in 2022. In general, total exports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +91.3% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 60%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

El Salvador (X tons) was the main destination for liquefied petroleum gas (LPG) exports from Guatemala, accounting for a 89% share of total exports. Moreover, liquefied petroleum gas (LPG) exports to El Salvador exceeded the volume sent to the second major destination, Nicaragua (X tons), ninefold. Honduras (X tons) ranked third in terms of total exports with a 1.9% share.

From 2012 to 2022, the average annual growth rate of volume to El Salvador amounted to +12.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (+7.8% per year) and Honduras (-11.4% per year).

In value terms, El Salvador ($X) remains the key foreign market for liquefied petroleum gas (LPG) exports from Guatemala, comprising 89% of total exports. The second position in the ranking was held by Nicaragua ($X), with an 8.9% share of total exports. It was followed by Honduras, with a 1.9% share.

From 2012 to 2022, the average annual growth rate of value to El Salvador stood at +6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (+1.1% per year) and Honduras (-16.5% per year).

Export Prices by Country

The average liquefied petroleum gas (LPG) export price stood at $X per ton in 2022, with an increase of 26% against the previous year. In general, the export price, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2021 when the average export price increased by 60% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belize ($X per ton), while the average price for exports to Nicaragua ($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 Belize (+12.5%), while the prices for the other major destinations experienced a decline.

Imports of Liquefied Petroleum Gas (LPG)

Imports into Guatemala

Liquefied petroleum gas (LPG) imports into Guatemala reduced slightly to X tons in 2022, approximately reflecting 2021 figures. In general, total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.5% 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 +83.5% against 2017 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 27%. Imports peaked at X tons in 2021, and then dropped slightly in the following year.

In value terms, liquefied petroleum gas (LPG) imports rose sharply to $X in 2022. Over the period under review, imports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2021 when imports increased by 99% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, the United States (X tons) was the main supplier of liquefied petroleum gas (LPG) to Guatemala, accounting for a 99% share of total imports. It was followed by Norway (X tons), with a 0.1% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled +59.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (-42.1% per year) and Honduras (-49.0% per year).

In value terms, the United States ($X) constituted the largest supplier of liquefied petroleum gas (LPG) to Guatemala, comprising 98% of total imports. The second position in the ranking was held by Norway ($X), with a 0.2% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to +59.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (-38.5% per year) and Honduras (-49.0% per year).

Import Prices by Country

In 2022, the average liquefied petroleum gas (LPG) import price amounted to $X per ton, increasing by 15% against the previous year. Overall, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, liquefied petroleum gas (LPG) import price increased by +89.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 65%. The import price peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per ton), while the price for Honduras ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+6.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform