Cuba: Boring Machinery Market 2022

Boring Machinery Market Size in Cuba

The Cuban boring machinery market reduced modestly to $X in 2021, approximately reflecting the previous year. Overall, consumption recorded a noticeable curtailment. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Boring Machinery Production in Cuba

In value terms, boring machinery production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +X% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of X%. Boring machinery production peaked at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Boring Machinery Exports

Exports from Cuba

In 2021, the amount of boring or sinking machinery exported from Cuba was estimated at less than X units, remaining stable against 2020. Over the period under review, exports enjoyed a significant expansion. As a result, the exports reached the peak of X units. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, boring machinery exports amounted to less than $X in 2021. In general, exports faced a precipitous decline. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Niger (X units) was the main destination for boring machinery exports from Cuba, with a approx. X% share of total exports.

From 2012 to 2014, the average annual rate of growth in terms of volume to Niger was relatively modest.

From 2012 to 2014, the average annual rate of growth in terms of value to Niger was relatively modest.

Export Prices by Country

The average boring machinery export price stood at $X per unit in 2014, flattening at the previous year. Overall, the export price continues to indicate a dramatic shrinkage. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2014, the export prices failed to regain momentum.

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

From 2012 to 2014, the rate of growth in terms of prices for Niger amounted to X% per year.

Boring Machinery Imports

Imports into Cuba

For the third consecutive year, Cuba recorded decline in supplies from abroad of boring or sinking machinery, which decreased by -X% to X units in 2021. Over the period under review, imports recorded a precipitous shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, boring machinery imports totaled $X in 2021. In general, imports showed a dramatic curtailment. The most prominent rate of growth was recorded in 2017 when imports increased by X%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth imports failed to regain momentum.

Imports by Country

In 2021, Italy (X units) constituted the largest supplier of boring machinery to Cuba, accounting for a X% share of total imports. Moreover, boring machinery imports from Italy exceeded the figures recorded by the second-largest supplier, Spain (X units), threefold.

From 2012 to 2021, the average annual growth rate of volume from Italy totaled -X%.

In value terms, Italy ($X) constituted the largest supplier of boring machinery to Cuba, comprising X% of total imports. The second position in the ranking was occupied by Spain ($X), with a X% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Italy totaled -X%.

Import Prices by Country

The average boring machinery import price stood at $X per unit in 2021, rising by X% against the previous year. Overall, the import price enjoyed a significant expansion. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, average import prices attained the maximum in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably by the country of origin: the country with the highest price was Italy ($X per unit), while the price for Spain stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+X%).

Source: IndexBox Platform