Costa Rica: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in Costa Rica

The Costa Rican market for processed petroleum oils and distillates reduced dramatically to $X in 2022, which is down by X% against the previous year. Overall, consumption recorded a slight slump. As a result, consumption attained the peak level of $X, and then shrank dramatically in the following year.

Production of Processed Petroleum Oils and Distillates in Costa Rica

In value terms, processed petroleum oils and distillates production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production showed a abrupt decline. The growth pace was the most rapid in 2013 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Exports of Processed Petroleum Oils and Distillates

Exports from Costa Rica

Processed petroleum oils and distillates exports from Costa Rica reduced to X tons in 2022, which is down by X% compared with the previous year. Over the period under review, exports faced a deep slump. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, processed petroleum oils and distillates exports fell slightly to $X in 2022. Overall, exports showed a drastic downturn. The pace of growth was the most pronounced in 2017 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Panama (X tons) was the main destination for processed petroleum oils and distillates exports from Costa Rica, with a X% share of total exports. Moreover, processed petroleum oils and distillates exports to Panama exceeded the volume sent to the second major destination, Peru (X tons), twofold. Nicaragua (X tons) ranked third in terms of total exports with a X% share.

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

In value terms, the largest markets for processed petroleum oils and distillates exported from Costa Rica were Panama ($X), Peru ($X) and Nicaragua ($X), with a combined X% share of total exports.

Peru, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for processed petroleum oils and distillates amounted to $X per ton, increasing by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Panama ($X per ton) was amongst the lowest.

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

Imports of Processed Petroleum Oils and Distillates

Imports into Costa Rica

In 2022, imports of processed petroleum oils and distillates into Costa Rica shrank significantly to X tons, which is down by X% compared with the previous year's figure. In general, total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then contracted remarkably in the following year.

In value terms, processed petroleum oils and distillates imports shrank significantly to $X in 2022. Over the period under review, imports saw a noticeable descent. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) was the main supplier of processed petroleum oils and distillates to Costa Rica, with a approx. X% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled X%.

In value terms, the United States ($X) constituted the largest supplier of processed petroleum oils and distillates to Costa Rica.

From 2012 to 2022, the average annual growth rate of value from the United States stood at X%.

Import Prices by Country

In 2022, the average import price for processed petroleum oils and distillates amounted to $X per ton, remaining constant against the previous year. Overall, the import price recorded a abrupt downturn. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to X% per year.

Source: IndexBox Platform

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