Costa Rica: Market for Tyres For Buses Or Lorries 2024

Market Size for Tyres For Buses Or Lorries in Costa Rica

The Costa Rican truck and bus tyre market contracted dramatically to $X in 2022, falling by X% against the previous year. Over the period under review, consumption showed a noticeable setback. Truck and bus tyre consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Tyres For Buses Or Lorries in Costa Rica

In value terms, truck and bus tyre production shrank to $X in 2022 estimated in export price. Overall, production, however, continues to indicate buoyant growth. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. Truck and bus tyre production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Tyres For Buses Or Lorries

Exports from Costa Rica

In 2022, approx. X units of tyres for buses or lorries were exported from Costa Rica; picking up by X% against 2021. In general, exports continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, truck and bus tyre exports expanded significantly to $X in 2022. Over the period under review, exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.

Exports by Country

The United States (X units) was the main destination for truck and bus tyre exports from Costa Rica, with a X% share of total exports. Moreover, truck and bus tyre exports to the United States exceeded the volume sent to the second major destination, Guatemala (X units), more than tenfold. The Dominican Republic (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume 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 the Dominican Republic (X% per year).

In value terms, the United States ($X) remains the key foreign market for tyres for buses or lorries exports from Costa Rica, comprising X% of total exports. The second position in the ranking was taken by Guatemala ($X), with a X% share of total exports. It was followed by the Dominican Republic, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (X% per year) and the Dominican Republic (X% per year).

Export Prices by Country

The average truck and bus tyre export price stood at $X per unit in 2022, falling by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Honduras ($X per unit) and the Dominican Republic ($X per unit), while the average price for exports to Chile ($X per unit) and Guatemala ($X per unit) were amongst the lowest.

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

Imports of Tyres For Buses Or Lorries

Imports into Costa Rica

After two years of growth, overseas purchases of tyres for buses or lorries decreased by X% to X units in 2022. Overall, total imports indicated a measured expansion 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. The growth pace was the most rapid in 2016 when imports increased by X%. As a result, imports reached the peak of X units. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, truck and bus tyre imports declined sharply to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2021, and then shrank dramatically in the following year.

Imports by Country

In 2022, China (X units) was the main supplier of truck and bus tyre to Costa Rica, accounting for a X% share of total imports. Moreover, truck and bus tyre imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), more than tenfold. The third position in this ranking was held by Mexico (X units), with a X% share.

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

In value terms, China ($X) constituted the largest supplier of tyres for buses or lorries to Costa Rica, comprising X% of total imports. The second position in the ranking was taken by Thailand ($X), with a X% share of total imports. It was followed by Mexico, with an X% share.

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

Import Prices by Country

The average truck and bus tyre import price stood at $X per unit in 2022, which is down by X% against the previous year. Over the period under review, the import price showed a pronounced reduction. The pace of growth was the most pronounced in 2018 when the average import price increased by X%. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Brazil ($X per unit) and Japan ($X per unit), while the price for the Netherlands ($X per unit) and Panama ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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