Costa Rica: Metal Permanent Magnet Market 2024

Metal Permanent Magnet Market Size in Costa Rica

In 2023, after two years of growth, there was significant decline in the Costa Rican metal permanent magnet market, when its value decreased by X% to $X. In general, consumption, however, enjoyed a tangible expansion. As a result, consumption reached the peak level of $X, and then shrank markedly in the following year.

Metal Permanent Magnet Exports

Exports from Costa Rica

In 2023, overseas shipments of metal permanent magnets were finally on the rise to reach X tons after two years of decline. Overall, exports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2020; however, from 2021 to 2023, the exports remained at a lower figure.

In value terms, metal permanent magnet exports skyrocketed to $X in 2023. In general, exports showed a prominent expansion. The pace of growth appeared the most rapid in 2014 when exports increased by X%. The exports peaked at $X in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

Exports by Country

Guatemala (X kg), the United States (X kg) and Panama (X kg) were the main destinations of metal permanent magnet exports from Costa Rica, together accounting for X% of total exports.

From 2012 to 2023, the biggest increases were recorded for Guatemala (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) remains the key foreign market for metal permanent magnets exports from Costa Rica, comprising X% of total exports. The second position in the ranking was taken by Guatemala ($X), with a X% share of total exports. It was followed by Panama, with a X% share.

From 2012 to 2023, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (X% per year) and Panama (X% per year).

Export Prices by Country

The average metal permanent magnet export price stood at $X per ton in 2023, approximately mirroring the previous year. In general, the export price recorded a strong expansion. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2023, 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.

Metal Permanent Magnet Imports

Imports into Costa Rica

After two years of growth, supplies from abroad of metal permanent magnets decreased by X% to X tons in 2023. Overall, total imports indicated modest growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2022 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons, and then dropped rapidly in the following year.

In value terms, metal permanent magnet imports declined rapidly to $X in 2023. In general, imports, however, saw a measured increase. The growth pace was the most rapid in 2022 when imports increased by X%. As a result, imports reached the peak of $X, and then declined notably in the following year.

Imports by Country

The United States (X tons), China (X tons) and Mexico (X tons) were the main suppliers of metal permanent magnet imports to Costa Rica, together comprising X% of total imports.

From 2012 to 2023, the biggest increases were recorded for China (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of metal permanent magnets to Costa Rica, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Spain, with a X% share.

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

Import Prices by Country

The average metal permanent magnet import price stood at $X per ton in 2023, shrinking by X% against the previous year. Over the period under review, import price indicated a pronounced expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, metal permanent magnet import price increased by X% against 2021 indices. The growth pace was the most rapid in 2018 when the average import price increased by X%. The import price peaked at $X per ton in 2019; however, from 2020 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform