Latin America and the Caribbean: Fireworks Market 2024

Fireworks Market Size in Latin America and the Caribbean

The Latin American fireworks market amounted to $X in 2022, picking up by X% against the previous year. In general, consumption, however, showed a deep slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Fireworks Production in Latin America and the Caribbean

In value terms, fireworks production fell to $X in 2022 estimated in export price. Overall, production continues to indicate a pronounced downturn. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Fireworks Exports

Exports in Latin America and the Caribbean

After two years of decline, shipments abroad of fireworks increased by X% to X tons in 2022. In general, exports showed a strong expansion. The pace of growth was the most pronounced in 2019 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, fireworks exports skyrocketed to $X in 2022. Over the period under review, exports recorded resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil represented the largest exporting country with an export of around X tons, which accounted for X% of total exports. It was distantly followed by Guatemala (X tons), El Salvador (X tons) and Venezuela (X tons), together mixing up a X% share of total exports. Panama (X tons) and Honduras (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to fireworks exports from Brazil stood at X%. At the same time, Panama (X%), Guatemala (X%), Venezuela (X%), El Salvador (X%) and Honduras (X%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. While the share of Guatemala (X p.p.), El Salvador (X p.p.), Venezuela (X p.p.) and Panama (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Brazil (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest fireworks supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Guatemala ($X), with a X% share of total exports. It was followed by El Salvador, with a X% share.

In Brazil, fireworks exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Guatemala (X% per year) and El Salvador (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, growing by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of X%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

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

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

Fireworks Imports

Imports in Latin America and the Caribbean

In 2022, purchases abroad of fireworks increased by X% to X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, imports, however, saw a perceptible curtailment. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, fireworks imports surged to $X in 2022. In general, imports recorded a relatively flat trend pattern. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Guatemala (X tons), distantly followed by Bolivia (X tons), Argentina (X tons), Nicaragua (X tons), Colombia (X tons), Ecuador (X tons), Peru (X tons) and Paraguay (X tons) were the major importers of fireworks, together achieving X% of total imports. The following importers - Panama (X tons), El Salvador (X tons), Suriname (X tons) and Brazil (X tons) - each accounted for a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to fireworks imports into Guatemala stood at X%. At the same time, Panama (X%), Nicaragua (X%), Colombia (X%) and Ecuador (X%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Bolivia and El Salvador experienced a relatively flat trend pattern. By contrast, Paraguay (X%), Brazil (X%), Suriname (X%), Peru (X%) and Argentina (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Guatemala, Nicaragua, Bolivia, Panama, Colombia and Ecuador increased by X, X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Guatemala ($X) constitutes the largest market for imported fireworks in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Bolivia ($X), with a X% share of total imports. It was followed by Argentina, with an X% share.

In Guatemala, fireworks imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Bolivia (X% per year) and Argentina (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, with an increase of X% against the previous year. Import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fireworks import price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was El Salvador ($X per ton), while Nicaragua ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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