Guatemala: Plastic Ornamental Articles Market 2024

Plastic Ornamental Articles Market Size in Guatemala

The Guatemalan plastic ornamental articles market expanded significantly to $X in 2022, rising by 13% 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). The market value increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Plastic ornamental articles consumption peaked in 2022 and is expected to retain growth in the immediate term.

Plastic Ornamental Articles Exports

Exports from Guatemala

After two years of decline, shipments abroad of statuettes and other ornamental articles of plastic increased by 16% to X tons in 2022. Overall, exports, however, saw a pronounced curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by 31% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, plastic ornamental articles exports expanded notably to $X in 2022. Over the period under review, exports, however, continue to indicate a slight shrinkage. The pace of growth appeared the most rapid in 2019 with an increase of 19%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

El Salvador (X tons), the United States (X tons) and Honduras (X tons) were the main destinations of plastic ornamental articles exports from Guatemala, together comprising 61% of total exports. Nicaragua, Mexico, Colombia, Argentina, Canada, Costa Rica and Panama lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +29.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, El Salvador ($X) remains the key foreign market for statuettes and other ornamental articles of plastic exports from Guatemala, comprising 42% of total exports. The second position in the ranking was taken by the United States ($X), with a 14% share of total exports. It was followed by Honduras, with a 14% share.

From 2012 to 2022, the average annual growth rate of value to El Salvador totaled +6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-0.4% per year) and Honduras (-7.8% per year).

Export Prices by Country

The average plastic ornamental articles export price stood at $X per ton in 2022, reducing by -2.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The growth pace was the most rapid in 2021 an increase of 29% against the previous year. As a result, the export price reached the peak level of $X per ton, and then reduced in the following year.

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 ($X per ton), while the average price for exports to Canada ($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 El Salvador (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Ornamental Articles Imports

Imports into Guatemala

In 2022, imports of statuettes and other ornamental articles of plastic into Guatemala totaled X tons, picking up by 2.2% against the previous year's figure. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 17%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, plastic ornamental articles imports surged to $X in 2022. The total import value increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 31% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest plastic ornamental articles supplier to Guatemala, with a 70% share of total imports. Moreover, plastic ornamental articles imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), fivefold. El Salvador (X tons) ranked third in terms of total imports with an 8.5% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-5.4% per year) and El Salvador (+10.5% per year).

In value terms, China ($X) constituted the largest supplier of statuettes and other ornamental articles of plastic to Guatemala, comprising 74% of total imports. The second position in the ranking was taken by the United States ($X), with a 9.4% share of total imports. It was followed by El Salvador, with a 7.1% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-6.6% per year) and El Salvador (+13.5% per year).

Import Prices by Country

The average plastic ornamental articles import price stood at $X per ton in 2022, increasing by 18% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. 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 Panama ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform