Cuba: Electronic Chip Market 2024

Electronic Chip Market Size in Cuba

The Cuban electronic chip market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption posted pronounced growth. Electronic chip consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Electronic Chip Production in Cuba

In value terms, electronic chip production rose remarkably to $X in 2021 estimated in export price. Over the period under review, production showed a noticeable increase. The most prominent rate of growth was recorded in 2016 when the production volume increased by 67%. Electronic chip production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Electronic Chip Exports

Exports from Cuba

Electronic chip exports from Cuba surged to X units in 2021, picking up by 91% against the previous year. Over the period under review, exports, however, showed a deep contraction. The pace of growth was the most pronounced in 2019 with an increase of 652% against the previous year. As a result, the exports attained the peak of X units. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, electronic chip exports skyrocketed to $X in 2021. Overall, exports, however, saw a abrupt contraction. The growth pace was the most rapid in 2020 when exports increased by 77%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X units), Italy (X units) and Spain (X units) were the main destinations of electronic chip exports from Cuba, together accounting for 65% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +2.0%), while the other leaders experienced a decline.

In value terms, the largest markets for electronic chip exported from Cuba were China ($X), Germany ($X) and Spain ($X), together comprising 63% of total exports.

Germany, with a CAGR of +12.4%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average electronic chip export price stood at $X per unit in 2021, declining by -14.8% against the previous year. In general, the export price, however, saw a temperate increase. The most prominent rate of growth was recorded in 2020 an increase of 3,170%. As a result, the export price attained the peak level of $X per unit, and then shrank in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Italy ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+35.5%), while the prices for the other major destinations experienced more modest paces of growth.

Electronic Chip Imports

Imports into Cuba

In 2021, supplies from abroad of electronic chips decreased by -10.1% to X units, falling for the second year in a row after two years of growth. Over the period under review, imports saw a pronounced setback. The growth pace was the most rapid in 2015 with an increase of 133% against the previous year. Imports peaked at X units in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, electronic chip imports dropped to $X in 2021. Overall, imports showed a abrupt descent. The most prominent rate of growth was recorded in 2015 with an increase of 296%. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

Spain (X units), Panama (X units) and Mexico (X units) were the main suppliers of electronic chip imports to Cuba, together comprising 57% of total imports. Italy, Canada, the Czech Republic and China lagged somewhat behind, together accounting for a further 9.3%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +42.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constituted the largest supplier of electronic chips to Cuba, comprising 36% of total imports. The second position in the ranking was taken by Spain ($X), with a 13% share of total imports. It was followed by Canada, with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Mexico stood at +31.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-0.4% per year) and Canada (-10.1% per year).

Import Prices by Country

In 2021, the average electronic chip import price amounted to $X per unit, flattening at the previous year. In general, the import price continues to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2015 when the average import price increased by 70% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Czech Republic ($X per unit), while the price for Panama (less than $X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+2.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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