Guatemala: Outboard Boat Motors Market 2024

Outboard Boat Motors Market Size in Guatemala

The Guatemalan outboard boat motors market surged to $X in 2022, growing by X% 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). In general, consumption saw a strong increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Outboard Boat Motors Exports

Exports from Guatemala

In 2022, overseas shipments of outboard motors for marine propulsion increased by X% to X units, rising for the second year in a row after three years of decline. Over the period under review, exports, however, recorded a deep reduction. The pace of growth appeared the most rapid in 2021 when exports increased by X%. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, outboard boat motors exports stood at $X in 2022. In general, exports, however, showed a abrupt slump. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

El Salvador (X units) was the main destination for outboard boat motors exports from Guatemala, accounting for a X% share of total exports. Moreover, outboard boat motors exports to El Salvador exceeded the volume sent to the second major destination, Belize (X units), twofold. Honduras (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to El Salvador amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belize (X% per year) and Honduras (X% per year).

In value terms, El Salvador ($X) emerged as the key foreign market for outboard motors for marine propulsion exports from Guatemala, comprising X% of total exports. The second position in the ranking was held by Belize ($X), with a X% share of total exports. It was followed by Honduras, with a X% share.

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

Export Prices by Country

The average outboard boat motors export price stood at $X per unit in 2022, with a decrease of X% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of X%. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was El Salvador ($X per unit), while the average price for exports to the United States ($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 (X%), while the prices for the other major destinations experienced more modest paces of growth.

Outboard Boat Motors Imports

Imports into Guatemala

In 2022, the amount of outboard motors for marine propulsion imported into Guatemala soared to X units, increasing by X% compared with the previous year's figure. Overall, imports recorded buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, outboard boat motors imports surged to $X in 2022. In general, imports enjoyed strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Japan (X units) constituted the largest outboard boat motors supplier to Guatemala, accounting for a X% share of total imports. Moreover, outboard boat motors imports from Japan exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. China (X units) ranked third in terms of total imports with a X% share.

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

In value terms, Japan ($X) constituted the largest supplier of outboard motors for marine propulsion to Guatemala, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Japan totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the average outboard boat motors import price amounted to $X per unit, waning by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of X%. Over the period under review, average import prices hit record highs at $X per unit in 2021, and then dropped in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Thailand ($X per unit) and China ($X per unit), while the price for the United States ($X per unit) and Japan ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform