Costa Rica: Market for Industrial Sewing Machines (Non-Automatic) 2024

Market Size for Industrial Sewing Machines (Non-Automatic) in Costa Rica

The Costa Rican industrial sewing machines (non-automatic) market skyrocketed to $X in 2022, picking up by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed significant growth. Industrial sewing machines (non-automatic) consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports of Industrial Sewing Machines (Non-Automatic)

Exports from Costa Rica

Industrial sewing machines (non-automatic) exports from Costa Rica declined sharply to X units in 2022, waning by X% compared with 2021 figures. Overall, exports continue to indicate a precipitous contraction. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, industrial sewing machines (non-automatic) exports dropped notably to $X in 2022. Over the period under review, exports faced a precipitous shrinkage. The most prominent rate of growth was recorded in 2013 when exports increased by X%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Honduras (X units), Cuba (X units) and the United States (X units) were the main destinations of industrial sewing machines (non-automatic) exports from Costa Rica, together accounting for X% of total exports. Moreover, industrial sewing machines (non-automatic) exports in Honduras exceeded the figures recorded by the second-largest exporter, Cuba, twofold.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of X%), while the other leaders experienced mixed trend patterns.

In value terms, Honduras ($X) emerged as the key foreign market for industrial sewing machines (non-automatic) exports from Costa Rica, comprising X% of total exports. The second position in the ranking was held by Nicaragua ($X), with a X% share of total exports. It was followed by Panama, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Honduras amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (X% per year) and Panama (X% per year).

Export Prices by Country

In 2022, the average industrial sewing machines (non-automatic) export price amounted to $X per unit, growing by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. Over the period under review, the average export prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Honduras ($X per unit), while the average price for exports to Cuba ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to El Salvador (X%), while the prices for the other major destinations experienced a decline.

Imports of Industrial Sewing Machines (Non-Automatic)

Imports into Costa Rica

In 2022, industrial sewing machines (non-automatic) imports into Costa Rica skyrocketed to X units, rising by X% against 2021 figures. In general, imports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2018 with an increase of X%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, industrial sewing machines (non-automatic) imports amounted to $X in 2022. Overall, imports showed a strong increase. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) was the main supplier of industrial sewing machines (non-automatic) to Costa Rica, accounting for a X% share of total imports. It was followed by the United States (X units), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, China ($X) constituted the largest supplier of industrial sewing machines (non-automatic) to Costa Rica, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

In 2022, the average industrial sewing machines (non-automatic) import price amounted to $X per unit, dropping by X% against the previous year. Overall, the import price continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2015 when the average import price increased by X%. Over the period under review, average import prices reached the maximum at $X per unit in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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