Composition Leather Price in Guatemala - 2023

Composition Leather Price in Guatemala (CIF) - 2023

In June 2023, the average composition leather import price amounted to $2.4 per square meter, dropping by -20.6% against the previous month. In general, the import price recorded a pronounced slump. The most prominent rate of growth was recorded in May 2023 an increase of 41% m-o-m. Over the period under review, average import prices reached the maximum at $4.0 per square meter in June 2022; however, from July 2022 to June 2023, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Mexico.

From June 2022 to June 2023, the rate of growth in terms of prices for Mexico amounted to -4.0% per month.

Composition Leather Price in Guatemala (FOB) - 2022

The average composition leather export price stood at $2.2 per square meter in 2022, jumping by 17% against the previous year. Overall, the export price continues to indicate a strong increase. The growth pace was the most rapid in 2015 when the average export price increased by 111% against the previous year. The export price peaked at $4.3 per square meter in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Mexico ($2.4 per square meter), while the average price for exports to Nicaragua stood at $2 per square meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to El Salvador (+29.5%), while the prices for the other major destinations experienced mixed trend patterns.

Composition Leather Imports in Guatemala

In 2022, approx. 352K square meters of composition leather were imported into Guatemala; reducing by -19.8% compared with 2021. In general, imports saw a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of 65%. Imports peaked at 449K square meters in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, composition leather imports shrank sharply to $594K in 2022. Over the period under review, imports showed a deep setback. The most prominent rate of growth was recorded in 2021 with an increase of 20% against the previous year. Imports peaked at $1.1M in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Import of Composition Leather in Guatemala (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Mexico	688	499	715	563	-6.5%
Italy	257	100	18.8	24.6	-54.3%
Argentina	88.3	87.1	92.3	N/A	2.2%
Others	19.9	9.6	6.2	6.4	-31.5%
Total	1,054	696	833	594	-17.4%

Top Suppliers of Composition Leather to Guatemala in 2022:

Mexico (339.8K square meters)
Italy (6.3K square meters)

Composition Leather Exports in Guatemala

For the fourth consecutive year, Guatemala recorded growth in overseas shipments of composition leather, which increased by 50% to 18K square meters in 2022. In general, exports saw significant growth. The pace of growth was the most pronounced in 2020 when exports increased by 742%. The exports peaked in 2022 and are likely to continue growth in the near future.

In value terms, composition leather exports soared to $39K in 2022. Overall, exports saw a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 302%. The exports peaked in 2022 and are expected to retain growth in years to come.

Export of Composition Leather in Guatemala (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Mexico	1.1	4.2	3.6	21.5	169.4%
Nicaragua	0.4	1.2	0.9	17.8	254.4%
Cambodia	N/A	N/A	17.9	N/A	0%
Others	0.2	0.2	0.1	N/A	-29.3%
Total	1.7	5.6	22.5	39.4	185.1%