Costa Rica: Stranded Wire Market 2024

Stranded Wire Market Size in Costa Rica

In 2022, the Costa Rican stranded wire market increased by X% to $X, rising for the second year in a row after two years of decline. In general, consumption saw a pronounced expansion. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in the near future.

Stranded Wire Exports

Exports from Costa Rica

For the third year in a row, Costa Rica recorded growth in overseas shipments of stranded wire, ropes and cables, which increased by X% to X tons in 2022. Overall, exports enjoyed resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, stranded wire exports surged to $X in 2022. Over the period under review, exports recorded a tangible expansion. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Guatemala (X tons), Panama (X tons) and Honduras (X tons) were the main destinations of stranded wire exports from Costa Rica, with a combined X% share of total exports. El Salvador, the Dominican Republic, Nicaragua and the United States lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Dominican Republic (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for stranded wire exported from Costa Rica were Panama ($X), Guatemala ($X) and El Salvador ($X), with a combined X% share of total exports. Honduras, the Dominican Republic, the United States and Nicaragua lagged somewhat behind, together comprising a further X%.

The Dominican Republic, with a CAGR of X%, saw the highest growth rate of 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

The average stranded wire export price stood at $X per ton in 2022, shrinking by X% against the previous year. In general, the export price showed a abrupt downturn. The growth pace was the most rapid in 2019 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

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

Stranded Wire Imports

Imports into Costa Rica

In 2022, supplies from abroad of stranded wire, ropes and cables increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, total imports indicated a mild 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. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, stranded wire imports soared to $X in 2022. Over the period under review, imports recorded a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, South Korea (X tons) constituted the largest stranded wire supplier to Costa Rica, accounting for a X% share of total imports. Moreover, stranded wire imports from South Korea exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The United States (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, the United States ($X), South Korea ($X) and China ($X) constituted the largest stranded wire suppliers to Costa Rica, with a combined X% share of total imports. Mexico, Brazil, India and Turkey lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, India, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average stranded wire import price amounted to $X per ton, picking up by X% against the previous year. Over the period under review, import price indicated a noticeable increase from 2012 to 2022: its price 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, stranded wire import price increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by X%. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, 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

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