Cuba: Market for Activated Natural Mineral Products 2022

Market Size for Activated Natural Mineral Products in Cuba

In 2021, the Cuban activated natural mineral products market increased by 7.2% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, saw a sharp contraction. Activated natural mineral products consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Exports of Activated Natural Mineral Products

Exports from Cuba

In 2019, approx. X kg of activated natural mineral products were exported from Cuba; standing approx. at 2018. In general, exports saw a significant increase. Over the period under review, the exports hit record highs in 2019 and are expected to retain growth in the immediate term.

In value terms, activated natural mineral products exports stood at $X in 2019. Overall, exports recorded a significant expansion. The exports peaked in 2019 and are likely to continue growth in the immediate term.

Exports by Country

Norway (X kg) was the main destination for activated natural mineral products exports from Cuba, accounting for a approx. 100% share of total exports.

From 2015 to 2019, the average annual growth rate of volume to Norway was relatively modest.

From 2015 to 2019, the average annual rate of growth in terms of value to Norway was relatively modest.

Export Prices by Country

In 2019, the average activated natural mineral products export price amounted to $X per ton, almost unchanged from the previous year. Over the period under review, the export price continues to indicate a significant increase. The export price peaked in 2019 and is likely to see steady growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Norway.

From 2015 to 2019, the rate of growth in terms of prices for Norway amounted to 0.0% per year.

Imports of Activated Natural Mineral Products

Imports into Cuba

In 2021, supplies from abroad of activated natural mineral products increased by 8.9% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports, however, faced a precipitous contraction. The most prominent rate of growth was recorded in 2017 with an increase of 492%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, activated natural mineral products imports rose significantly to $X in 2021. Overall, imports, however, faced a dramatic descent. The most prominent rate of growth was recorded in 2017 when imports increased by 569% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Mexico (X tons) constituted the largest activated natural mineral products supplier to Cuba, accounting for a 90% share of total imports. Moreover, activated natural mineral products imports from Mexico exceeded the figures recorded by the second-largest supplier, the Netherlands (X kg), more than tenfold. The third position in this ranking was taken by Spain (X kg), with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Mexico amounted to -38.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-3.6% per year) and Spain (-47.6% per year).

In value terms, Mexico ($X) constituted the largest supplier of activated natural mineral products to Cuba, comprising 85% of total imports. The second position in the ranking was held by the Netherlands ($X), with an 11% share of total imports. It was followed by Spain, with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Mexico totaled -31.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-17.5% per year) and Spain (-58.2% per year).

Import Prices by Country

The average activated natural mineral products import price stood at $X per ton in 2021, declining by -2.9% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average import price increased by 52%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the Netherlands ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+9.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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