Cuba: Fuel Filter Market 2022

Fuel Filter Market Size in Cuba

In 2021, after three years of decline, there was significant growth in the Cuban fuel filter market, when its value increased by X% to $X. Overall, consumption recorded tangible growth. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Fuel Filter Exports

Exports from Cuba

In 2021, overseas shipments of oil or petrol-filters for internal combustion engines increased by X% to X units, rising for the fourth consecutive year after four years of decline. Overall, exports showed a measured expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, fuel filter exports reduced modestly to $X in 2021. Over the period under review, exports posted measured growth. The pace of growth appeared the most rapid in 2013 when exports increased by X% 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

Canada (X units) was the main destination for fuel filter exports from Cuba, with a X% share of total exports. Moreover, fuel filter exports to Canada exceeded the volume sent to the second major destination, Costa Rica (X units), threefold.

From 2012 to 2021, the average annual growth rate of volume to Canada stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+X% per year) and Belgium (X% per year).

In value terms, the largest markets for fuel filter exported from Cuba were Costa Rica ($X), Canada ($X) and Belgium ($X, with a CAGR of +X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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 fuel filter export price amounted to $X per unit, dropping by -X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average export price increased by X%. The export price peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Belgium ($X per unit), while the average price for exports to Canada ($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 Belgium (+X%), while the prices for the other major destinations experienced mixed trend patterns.

Fuel Filter Imports

Imports into Cuba

In 2021, supplies from abroad of oil or petrol-filters for internal combustion engines increased by X% to X units for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports enjoyed moderate growth. The pace of growth appeared the most rapid in 2017 when imports increased by X%. As a result, imports reached the peak of X units. From 2018 to 2021, the growth imports failed to regain momentum.

In value terms, fuel filter imports soared to $X in 2021. Overall, imports saw a moderate increase. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth imports remained at a somewhat lower figure.

Imports by Country

China (X units), Russia (X units) and Germany (X units) were the main suppliers of fuel filter imports to Cuba, with a combined X% share of total imports. Canada, France, Mexico, Spain, Slovakia and Denmark lagged somewhat behind, together comprising a further X 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovakia (with a CAGR of +X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of fuel filter to Cuba, comprising X% of total imports. The second position in the ranking was occupied by Russia ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+X% per year) and Germany (+X% per year).

Import Prices by Country

In 2021, the average fuel filter import price amounted to $X per unit, declining by -X% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average import price increased by X%. The import price peaked at $X per unit in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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

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

Source: IndexBox Platform