Guatemala: Metal Office Furniture Market 2024

Metal Office Furniture Market Size in Guatemala

The Guatemalan metal office furniture market rose slightly to $X in 2022, picking up by 2% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Metal Office Furniture Production in Guatemala

In value terms, metal office furniture production rose slightly to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 16%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Metal Office Furniture Exports

Exports from Guatemala

In 2022, shipments abroad of metal office furniture increased by 15% to X tons, rising for the second consecutive year after three years of decline. Overall, exports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 45% against the previous year. The exports peaked at X tons in 2017; afterwards, it flattened through to 2022.

In value terms, metal office furniture exports surged to $X in 2022. Over the period under review, total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +8.3% 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 +117.6% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 63%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the near future.

Exports by Country

El Salvador (X tons), Honduras (X tons) and Nicaragua (X tons) were the main destinations of metal office furniture exports from Guatemala, together comprising 80% of total exports. Belize, Panama, Costa Rica and the Dominican Republic lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Panama (with a CAGR of +133.8%), while the other leaders experienced more modest paces of growth.

In value terms, El Salvador ($X) remains the key foreign market for metal office furniture exports from Guatemala, comprising 45% of total exports. The second position in the ranking was held by Honduras ($X), with a 22% share of total exports. It was followed by Nicaragua, with an 8.4% share.

From 2012 to 2022, the average annual growth rate of value to El Salvador amounted to +9.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+25.6% per year) and Nicaragua (+1.9% per year).

Export Prices by Country

The average metal office furniture export price stood at $X per ton in 2022, increasing by 16% against the previous year. Over the period under review, the export price, however, continues to indicate a slight contraction. The export price peaked at $X per ton in 2013; however, from 2014 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 the Dominican Republic ($X per ton), while the average price for exports to Honduras ($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 the Dominican Republic (+12.7%), while the prices for the other major destinations experienced mixed trend patterns.

Metal Office Furniture Imports

Imports into Guatemala

In 2022, after two years of growth, there was significant decline in purchases abroad of metal office furniture, when their volume decreased by -12.7% to X tons. In general, total imports indicated slight growth from 2012 to 2022: its volume increased at an average annual rate of +1.0% 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 +34.5% against 2019 indices. The pace of growth was the most pronounced in 2016 with an increase of 44% against the previous year. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, metal office furniture imports reduced to $X in 2022. Overall, imports, however, recorded temperate growth. The growth pace was the most rapid in 2016 when imports increased by 106% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest metal office furniture supplier to Guatemala, with a 45% share of total imports. Moreover, metal office furniture imports from China exceeded the figures recorded by the second-largest supplier, Honduras (X tons), twofold. The United States (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +12.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Honduras (+11.1% per year) and the United States (-2.5% per year).

In value terms, China ($X), the United States ($X) and Honduras ($X) were the largest metal office furniture suppliers to Guatemala, together accounting for 69% of total imports. Germany, Spain, Taiwan (Chinese), Mexico and South Korea lagged somewhat behind, together comprising a further 21%.

In terms of the main suppliers, Germany, with a CAGR of +32.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average metal office furniture import price amounted to $X per ton, rising by 3.9% against the previous year. Overall, the import price continues to indicate a modest increase. The most prominent rate of growth was recorded in 2016 when the average import price increased by 44% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform