Latin America and the Caribbean: Cigarettes Containing Tobacco Market 2024

Cigarettes Containing Tobacco Market Size in Latin America and the Caribbean

The Latin American cigarettes containing tobacco market skyrocketed to $X in 2022, with an increase of 30% against the previous year. In general, consumption, however, continues to indicate a deep downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Cigarettes Containing Tobacco Production in Latin America and the Caribbean

In value terms, cigarettes containing tobacco production rose markedly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a noticeable decline. The pace of growth was the most pronounced in 2020 with an increase of 28% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Cigarettes Containing Tobacco Exports

Exports in Latin America and the Caribbean

In 2022, after two years of decline, there was significant growth in overseas shipments of cigarettes containing tobacco, when their volume increased by 15% to X tons. Overall, exports, however, showed a perceptible reduction. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, cigarettes containing tobacco exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed a abrupt decrease. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Brazil (X tons), Belize (X tons), Aruba (X tons), Chile (X tons), Honduras (X tons), Paraguay (X tons), Panama (X tons) and Trinidad and Tobago (X tons) represented roughly 92% of total exports in 2022.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +47.0%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest cigarettes containing tobacco supplying countries in Latin America and the Caribbean were Brazil ($X), Chile ($X) and Trinidad and Tobago ($X), with a combined 43% share of total exports.

Brazil, with a CAGR of +43.2%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, increasing by 4.5% against the previous year. Overall, the export price, however, saw a pronounced setback. The most prominent rate of growth was recorded in 2014 when the export price increased by 17%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Trinidad and Tobago ($X per ton), while Belize ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+3.0%), while the other leaders experienced more modest paces of growth.

Cigarettes Containing Tobacco Imports

Imports in Latin America and the Caribbean

In 2022, approx. X tons of cigarettes containing tobacco were imported in Latin America and the Caribbean; picking up by 24% compared with 2021. Total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +7.1% 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 +39.8% against 2018 indices. The most prominent rate of growth was recorded in 2014 with an increase of 47% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the near future.

In value terms, cigarettes containing tobacco imports rose modestly to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 11% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Belize (X tons) was the key importer of cigarettes containing tobacco, making up 55% of total imports. It was distantly followed by Colombia (X tons) and Aruba (X tons), together comprising a 20% share of total imports. Guatemala (X tons), Suriname (X tons), Nicaragua (X tons), Venezuela (X tons) and Paraguay (X tons) followed a long way behind the leaders.

Belize was also the fastest-growing in terms of the cigarettes containing tobacco imports, with a CAGR of +56.5% from 2012 to 2022. At the same time, Venezuela (+38.3%), Guatemala (+11.0%), Colombia (+4.6%) and Suriname (+2.4%) displayed positive paces of growth. By contrast, Aruba (-1.2%), Nicaragua (-4.5%) and Paraguay (-6.9%) illustrated a downward trend over the same period. Belize (+54 p.p.) and Venezuela (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Colombia, Nicaragua, Paraguay and Aruba saw its share reduced by -3.8%, -4.4%, -5% and -7.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest cigarettes containing tobacco importing markets in Latin America and the Caribbean were Colombia ($X), Belize ($X) and Aruba ($X), with a combined 45% share of total imports. Guatemala, Nicaragua, Suriname, Venezuela and Paraguay lagged somewhat behind, together comprising a further 20%.

In terms of the main importing countries, Venezuela, with a CAGR of +40.0%, recorded the highest growth rate of 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 import price in Latin America and the Caribbean amounted to $X per ton, shrinking by -15.9% against the previous year. In general, the import price continues to indicate a deep reduction. The growth pace was the most rapid in 2017 an increase of 9.2%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Nicaragua ($X per ton), while Belize ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Venezuela (+1.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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