Cuba: Market for Electro-Thermic Appliances Or Domestic Purposes 2022

Market Size for Electro-Thermic Appliances Or Domestic Purposes in Cuba

In 2021, the Cuban market for electro-thermic appliances or domestic purposes was finally on the rise to reach $X after three years of decline. Overall, consumption saw a prominent expansion. Electro-thermic appliances or domestic purposes consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Exports of Electro-Thermic Appliances Or Domestic Purposes

Exports from Cuba

In 2021, the amount of electro-thermic appliances or domestic purposes exported from Cuba rose remarkably to X units, picking up by 9.1% compared with 2020. In general, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by 92% against the previous year. Over the period under review, the exports reached the maximum at X units in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, electro-thermic appliances or domestic purposes exports declined to $X in 2021. Over the period under review, exports, however, showed a pronounced downturn. The pace of growth was the most pronounced in 2019 with an increase of 83%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The Czech Republic (X units) was the main destination for electro-thermic appliances or domestic purposes exports from Cuba, with a 95% share of total exports. Moreover, electro-thermic appliances or domestic purposes exports to the Czech Republic exceeded the volume sent to the second major destination, Panama (X units), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Czech Republic totaled +40.1%.

In value terms, the Czech Republic ($X) remains the key foreign market for electro-thermic appliances or domestic purposes exports from Cuba, comprising 97% of total exports. The second position in the ranking was taken by Panama ($X), with a 2.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the Czech Republic amounted to +14.9%.

Export Prices by Country

In 2021, the average export price for electro-thermic appliances or domestic purposes amounted to $X per unit, with a decrease of -19.2% against the previous year. In general, the export price saw a pronounced decrease. The pace of growth was the most pronounced in 2020 when the average export price increased by 62% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the Czech Republic ($X per unit), while the average price for exports to Panama totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Angola (+27,126.0%), while the prices for the other major destinations experienced a decline.

Imports of Electro-Thermic Appliances Or Domestic Purposes

Imports into Cuba

Electro-thermic appliances or domestic purposes imports into Cuba surged to X units in 2021, growing by 28% against 2020. Over the period under review, imports saw resilient growth. The pace of growth appeared the most rapid in 2013 when imports increased by 114%. Imports peaked at X units in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, electro-thermic appliances or domestic purposes imports soared to $X in 2021. Overall, imports saw a resilient expansion. The pace of growth appeared the most rapid in 2013 with an increase of 68% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Panama (X units) constituted the largest supplier of electro-thermic appliances or domestic purposes to Cuba, accounting for a 72% share of total imports. Moreover, electro-thermic appliances or domestic purposes imports from Panama exceeded the figures recorded by the second-largest supplier, China (X units), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Panama amounted to +15.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+11.0% per year) and Angola (-17.9% per year).

In value terms, Panama ($X) constituted the largest supplier of electro-thermic appliances or domestic purposes to Cuba, comprising 78% of total imports. The second position in the ranking was taken by China ($X), with a 17% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Panama totaled +12.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+9.5% per year) and Angola (-19.4% per year).

Import Prices by Country

In 2021, the average import price for electro-thermic appliances or domestic purposes amounted to $X per unit, leveling off at the previous year. Overall, the import price continues to indicate a noticeable setback. The most prominent rate of growth was recorded in 2017 an increase of 8.6%. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, the country with the highest price was Panama ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-1.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :