Puerto Rico: Household Hand Tools Market 2024

Household Hand Tools Market Size in Puerto Rico

After four years of decline, the Puerto Rican household hand tools market increased by 6.6% to $X in 2021. In general, consumption, however, recorded a abrupt slump. Puerto Rico consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Household Hand Tools Production in Puerto Rico

In value terms, household hand tools production rose sharply to $X in 2021 estimated in export price. Overall, production, however, recorded a abrupt setback. The most prominent rate of growth was recorded in 2016 with an increase of 19%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Household Hand Tools Exports

Exports from Puerto Rico

In 2021, approx. less than X kg of household hand tools were exported from Puerto Rico; remaining relatively unchanged against 2020. Overall, exports recorded a relatively flat trend pattern.

In value terms, household hand tools exports amounted to less than $X in 2021. In general, exports showed a relatively flat trend pattern.

Exports by Country

China prevails in exports structure, accounting for X tons, which was approx. 79% of total exports in 2021. The Netherlands (X tons), Germany (X tons) and Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to household hand tools exports from China stood at +5.5%. At the same time, the Netherlands (+12.9%) and Germany (+3.9%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +12.9% from 2012-2021. By contrast, Hong Kong SAR (-16.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China and the Netherlands increased by +11 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest household hand tools supplier from Puerto Rico, comprising 69% of global exports. The second position in the ranking was taken by Germany ($X), with a 5.9% share of global exports. It was followed by the Netherlands, with a 3.3% share.

From 2012 to 2021, the average annual growth rate of value in China totaled +11.8%. In the other countries, the average annual rates were as follows: Germany (+6.2% per year) and the Netherlands (+14.8% per year).

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per ton, approximately mirroring the previous year. Over the period under review, the export price saw a relatively flat trend pattern.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+6.6%), while the other leaders experienced more modest paces of growth.

Household Hand Tools Imports

Imports into Puerto Rico

Household hand tools imports into Puerto Rico stood at less than X kg in 2021, approximately mirroring 2020. Over the period under review, imports recorded a relatively flat trend pattern.

In value terms, household hand tools imports stood at less than $X in 2021. In general, imports saw a relatively flat trend pattern.

Imports by Country

In 2021, the United States (X tons) represented the main importer of household hand tools, committing 22% of total imports. It was distantly followed by Germany (X tons), generating a 6.5% share of total imports. Spain (X tons), Russia (X tons), France (X tons), the UK (X tons), El Salvador (X tons), the Netherlands (X tons), Brazil (X tons), Denmark (X tons), Belgium (X tons), Poland (X tons) and Malaysia (X tons) held a minor share of total imports.

Imports into the United States increased at an average annual rate of +6.5% from 2012 to 2021. At the same time, El Salvador (+42.4%), Malaysia (+31.8%), Denmark (+20.6%), Poland (+12.4%), Brazil (+6.7%), Belgium (+5.5%), Spain (+3.7%), the Netherlands (+3.0%), France (+2.5%) and Germany (+1.9%) displayed positive paces of growth. Moreover, El Salvador emerged as the fastest-growing importer imported in the world, with a CAGR of +42.4% from 2012-2021. Russia experienced a relatively flat trend pattern. By contrast, the UK (-1.7%) illustrated a downward trend over the same period. While the share of the United States (+5.1 p.p.), El Salvador (+2.5 p.p.), Denmark (+1.9 p.p.) and Malaysia (+1.6 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of the UK (-1.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X), Germany ($X) and France ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 34% share of total imports. These countries were followed by Poland, Spain, the Netherlands, the UK, Belgium, Russia, El Salvador, Brazil, Denmark and Malaysia, which together accounted for a further 23%.

El Salvador, with a CAGR of +48.4%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Puerto Rico stood at less than $X per ton in 2021, standing approx. at the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+8.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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