Costa Rica: Wood Drilling Machine Market 2024

Wood Drilling Machine Market Size in Costa Rica

For the third consecutive year, the Costa Rican wood drilling machine market recorded decline in sales value, which decreased by X% to $X in 2023. Overall, consumption, however, continues to indicate a remarkable increase. As a result, consumption reached the peak level of $X. From 2014 to 2023, the growth of the market failed to regain momentum.

Wood Drilling Machine Production in Costa Rica

In value terms, wood drilling machine production stood at less than $X in 2023 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with a decrease of X% against the previous year. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2023, production remained at a lower figure.

Wood Drilling Machine Exports

Exports from Costa Rica

Wood drilling machine exports from Costa Rica was estimated at less than X units in 2023, leveling off at the previous year. In general, exports recorded noticeable growth. The smallest decline of X% was in 2019. The exports peaked at X units in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

In value terms, wood drilling machine exports contracted rapidly to $X in 2023. Over the period under review, exports saw a deep contraction. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

Exports by Country

Guatemala (X units), Suriname (X units) and Guyana (X units) were the main destinations of wood drilling machine exports from Costa Rica, together comprising X% of total exports. Moreover, wood drilling machine exports in Guatemala exceeded the figures recorded by the second-largest exporter, Suriname, twofold.

From 2012 to 2018, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guatemala (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wood drilling machine exported from Costa Rica were Saint Kitts and Nevis ($X), Suriname ($X) and Guyana ($X), together comprising X% of total exports. Guatemala, Nicaragua, Panama, the United States and Peru lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Nicaragua, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the average wood drilling machine export price amounted to $X per unit, approximately equating the previous year. Over the period under review, the export price saw a significant expansion. The pace of growth appeared the most rapid in 2013 when the average export price decreased by X% against the previous year. Over the period under review, the average export prices reached the peak figure in 2018 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2018, amid the top suppliers, the country with the highest price was Saint Kitts and Nevis ($X per unit), while the average price for exports to Peru ($X per unit) was amongst the lowest.

From 2012 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Nicaragua (X%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Drilling Machine Imports

Imports into Costa Rica

For the third year in a row, Costa Rica recorded decline in purchases abroad of drilling or morticing machines, which decreased by X% to X units in 2023. Overall, imports, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2013 when imports increased by X%. As a result, imports reached the peak of X units. From 2014 to 2023, the growth of imports failed to regain momentum.

In value terms, wood drilling machine imports surged to $X in 2023. Over the period under review, imports showed a slight decline. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Colombia (X units) constituted the largest supplier of wood drilling machine to Costa Rica, with a X% share of total imports. Moreover, wood drilling machine imports from Colombia exceeded the figures recorded by the second-largest supplier, Italy (X units), fourfold. The third position in this ranking was taken by China (X units), with an X% share.

From 2012 to 2023, the average annual growth rate of volume from Colombia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and China (X% per year).

In value terms, China ($X) constituted the largest supplier of drilling or morticing machines to Costa Rica, comprising X% of total imports. The second position in the ranking was taken by Colombia ($X), with a X% share of total imports. It was followed by Mexico, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (X% per year) and Mexico (X% per year).

Import Prices by Country

The average wood drilling machine import price stood at $X per unit in 2023, jumping by X% against the previous year. Overall, the import price, however, continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2014 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was China ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Canada (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform