Guatemala: Umbrella And Walking-Stick Market 2024

Umbrella And Walking-Stick Market Size in Guatemala

In 2022, the Guatemalan umbrella and walking-stick market increased by 17% to $X, rising for the second consecutive year after three years of decline. The market value increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level in 2022 and is likely to continue growth in the near future.

Umbrella And Walking-Stick Exports

Exports from Guatemala

In 2022, after two years of growth, there was significant decline in shipments abroad of umbrellas and walking-sticks, when their volume decreased by -47.7% to X units. Over the period under review, exports recorded a abrupt curtailment. The growth pace was the most rapid in 2013 with an increase of 198% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, umbrella and walking-stick exports shrank rapidly to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 167%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Honduras (X units), El Salvador (X units) and Nicaragua (X units) were the main destinations of umbrella and walking-stick exports from Guatemala, with a combined 87% share of total exports. Costa Rica, Panama and the Dominican Republic lagged somewhat behind, together comprising a further 11%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Dominican Republic (with a CAGR of +6.1%), while the other leaders experienced mixed trend patterns.

In value terms, Honduras ($X), El Salvador ($X) and Costa Rica ($X) constituted the largest markets for umbrella and walking-stick exported from Guatemala worldwide, with a combined 86% share of total exports.

Costa Rica, with a CAGR of +18.6%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average umbrella and walking-stick export price stood at $X per unit in 2022, with an increase of 50% against the previous year. In general, the export price enjoyed a prominent expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Costa Rica ($X per unit), while the average price for exports to Nicaragua ($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 Costa Rica (+17.5%), while the prices for the other major destinations experienced more modest paces of growth.

Umbrella And Walking-Stick Imports

Imports into Guatemala

In 2022, purchases abroad of umbrellas and walking-sticks increased by 16% to X units, rising for the second consecutive year after three years of decline. Over the period under review, total imports indicated mild 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 +29.2% against 2020 indices. The pace of growth was the most pronounced in 2015 when imports increased by 35% against the previous year. Imports peaked at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, umbrella and walking-stick imports rose remarkably to $X in 2022. The total import value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 35% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X units) was the main supplier of umbrella and walking-stick to Guatemala, with a 93% share of total imports. It was followed by the United States (X units), with a 2.7% share of total imports. The third position in this ranking was taken by Mexico (X units), with a 1.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-6.9% per year) and Mexico (+14.8% per year).

In value terms, China ($X) constituted the largest supplier of umbrellas and walking-sticks to Guatemala, comprising 91% of total imports. The second position in the ranking was held by the United States ($X), with a 3.1% share of total imports. It was followed by Mexico, with a 1.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-5.3% per year) and Mexico (+16.0% per year).

Import Prices by Country

In 2022, the average umbrella and walking-stick import price amounted to $X per unit, declining by -2.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The pace of growth was the most pronounced in 2021 an increase of 22%. As a result, import price attained the peak level of $X per unit, and then fell in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform