Cuba: Cigars And Cigarillos Market 2022

Cigars And Cigarillos Market Size in Cuba

In 2021, the Cuban cigars and cigarillos market decreased by -27.8% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Cigars And Cigarillos Production in Cuba

In value terms, cigars and cigarillos production rose slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 33% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Cigars And Cigarillos Exports

Exports from Cuba

In 2021, shipments abroad of cigars, cheroots and cigarillos increased by 20% to X tons, rising for the fifth consecutive year after three years of decline. Overall, exports enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2013 when exports increased by 61% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, cigars and cigarillos exports rose to $X in 2021. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 16% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Spain (X tons), Germany (X tons) and Hong Kong SAR (X tons) were the main destinations of cigars and cigarillos exports from Cuba, with a combined 41% share of total exports. These countries were followed by Luxembourg, Switzerland, Cyprus, Canada, Belgium, Turkey, the UK, the United Arab Emirates, China and Italy, which together accounted for a further 44%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +20.9%), while the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X), Germany ($X) and Hong Kong SAR ($X) were the largest markets for cigars and cigarillos exported from Cuba worldwide, with a combined 41% share of total exports. These countries were followed by Spain, Cyprus, Belgium, the UK, Turkey, Luxembourg, Canada, China, Italy and the United Arab Emirates, which together accounted for a further 36%.

In terms of the main countries of destination, China, with a CAGR of +25.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average cigars and cigarillos export price amounted to $X per ton, falling by -12.9% against the previous year. In general, the export price saw a noticeable descent. The growth pace was the most rapid in 2014 when the average export price increased by 30% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Switzerland ($X per ton), while the average price for exports to Luxembourg ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+3.5%), while the prices for the other major destinations experienced more modest paces of growth.

Cigars And Cigarillos Imports

Imports into Cuba

In 2021, supplies from abroad of cigars, cheroots and cigarillos decreased by -24.7% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, imports, however, saw a significant increase. The growth pace was the most rapid in 2019 with an increase of 6,900% against the previous year. Imports peaked at X tons in 2020, and then shrank remarkably in the following year.

In value terms, cigars and cigarillos imports contracted rapidly to $X in 2021. Overall, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2019 when imports increased by 3,043% against the previous year. Imports peaked at $X in 2020, and then contracted significantly in the following year.

Imports by Country

In 2021, the United Arab Emirates (X tons) was the main supplier of cigars and cigarillos to Cuba, with a approx. 99.9% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates amounted to +22.9%.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of cigars and cigarillos to Cuba.

From 2012 to 2021, the average annual growth rate of value from the United Arab Emirates totaled +21.8%.

Import Prices by Country

In 2021, the average cigars and cigarillos import price amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the import price, however, saw a deep downturn. The pace of growth was the most pronounced in 2018 an increase of 75% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, 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 Arab Emirates.

From 2012 to 2021, the rate of growth in terms of prices for the United Arab Emirates amounted to -0.8% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :