Cuba: Market for Liquefied Petroleum Gas (LPG) 2022

Market Size for Liquefied Petroleum Gas (LPG) in Cuba

In 2021, the Cuban liquefied petroleum gas (LPG) market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption, however, showed a abrupt decrease. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Production of Liquefied Petroleum Gas (LPG) in Cuba

In value terms, liquefied petroleum gas (LPG) production skyrocketed to $X in 2021 estimated in export price. In general, production, however, faced a abrupt shrinkage. The pace of growth was the most pronounced in 2013 with an increase of 66%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Exports of Liquefied Petroleum Gas (LPG)

Exports from Cuba

After two years of decline, overseas shipments of liquefied petroleum gas (LPG) decreased by 0% to X kg in 2015. In general, exports recorded a dramatic curtailment. The exports peaked at X kg in 2012; however, from 2013 to 2015, the exports failed to regain momentum.

In value terms, liquefied petroleum gas (LPG) exports amounted to $X in 2015. Over the period under review, exports faced a sharp decline. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2015, the exports failed to regain momentum.

Exports by Country

The Netherlands (X kg) was the main destination for liquefied petroleum gas (LPG) exports from Cuba, with a 89% share of total exports. Moreover, liquefied petroleum gas (LPG) exports to the Netherlands exceeded the volume sent to the second major destination, El Salvador (X kg), eightfold.

From 2012 to 2015, the average annual rate of growth in terms of volume to the Netherlands was relatively modest.

In value terms, the Netherlands ($X) and El Salvador ($X) constituted the largest markets for liquefied petroleum gas (LPG) exported from Cuba worldwide.

In terms of the main countries of destination, the Netherlands, with a CAGR of 0.0%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2015, the average liquefied petroleum gas (LPG) export price amounted to $X per ton, standing approx. at the previous year. Over the period under review, the export price saw a precipitous shrinkage. The export price peaked at $X per ton in 2012; however, from 2013 to 2015, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was El Salvador ($X per ton), while the average price for exports to the Netherlands totaled $X per ton.

From 2012 to 2015, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (0.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Liquefied Petroleum Gas (LPG)

Imports into Cuba

After three years of decline, supplies from abroad of liquefied petroleum gas (LPG) increased by 85% to X tons in 2021. In general, imports, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2017 with an increase of 106% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, liquefied petroleum gas (LPG) imports declined to $X in 2021. Overall, imports, however, showed a noticeable reduction. The most prominent rate of growth was recorded in 2017 when imports increased by 108% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The Netherlands (X tons), Switzerland (X tons) and Canada (X tons) were the main suppliers of liquefied petroleum gas (LPG) imports to Cuba, together accounting for 99.9% of total imports.

From 2012 to 2021, the biggest increases were in Switzerland (with a CAGR of -2.2%), while purchases for the other leaders experienced a decline.

In value terms, the Netherlands ($X) constituted the largest supplier of liquefied petroleum gas (LPG) to Cuba, comprising 93% of total imports. The second position in the ranking was taken by Switzerland ($X), with a 3.8% share of total imports. It was followed by Canada, with a 2.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the Netherlands amounted to +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (-11.1% per year) and Canada (-11.6% per year).

Import Prices by Country

The average liquefied petroleum gas (LPG) import price stood at $X per ton in 2021, falling by -52% against the previous year. Over the period under review, the import price, however, enjoyed a resilient increase. The pace of growth appeared the most rapid in 2018 when the average import price increased by 356%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+25.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :