Cuba: Fuse And Detonator Market 2023

Fuse And Detonator Market Size in Cuba

In 2021, the Cuban fuse and detonator market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, the total consumption indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Fuse And Detonator Production in Cuba

In value terms, fuse and detonator production reached $X in 2021 estimated in export price. In general, the total production indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -23.4% against 2017 indices. The growth pace was the most rapid in 2017 when the production volume increased by 87% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Fuse And Detonator Exports

Exports from Cuba

Fuse and detonator exports from Cuba skyrocketed to X tons in 2021, with an increase of 19% on 2020. Over the period under review, exports posted a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 262%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in years to come.

In value terms, fuse and detonator exports reached $X in 2021. In general, exports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 225%. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Suriname (X tons) was the main destination for fuse and detonator exports from Cuba, accounting for a 71% share of total exports. Moreover, fuse and detonator exports to Suriname exceeded the volume sent to the second major destination, Jamaica (X tons), threefold. Trinidad and Tobago (X tons) ranked third in terms of total exports with a 4.5% share.

From 2012 to 2021, the average annual growth rate of volume to Suriname amounted to +26.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jamaica (+18.7% per year) and Trinidad and Tobago (+14.6% per year).

In value terms, Suriname ($X) remains the key foreign market for safety fuses, detonating fuses and electric detonators exports from Cuba, comprising 92% of total exports. The second position in the ranking was taken by Jamaica ($X), with a 4.3% share of total exports. It was followed by the Dominican Republic, with a 2.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Suriname amounted to +32.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jamaica (+3.4% per year) and the Dominican Republic (+12.3% per year).

Export Prices by Country

The average fuse and detonator export price stood at $X per ton in 2021, which is down by -7.9% against the previous year. Over the period under review, the export price saw a perceptible reduction. The most prominent rate of growth was recorded in 2018 an increase of 49%. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saint Vincent and the Grenadines ($X per ton), while the average price for exports to Trinidad and Tobago ($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 Suriname (+5.0%), while the prices for the other major destinations experienced a decline.

Fuse And Detonator Imports

Imports into Cuba

In 2021, purchases abroad of safety fuses, detonating fuses and electric detonators was finally on the rise to reach X tons after four years of decline. Overall, imports posted resilient growth. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, fuse and detonator imports surged to $X in 2021. Over the period under review, imports continue to indicate strong growth. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Russia (X tons) constituted the largest supplier of fuse and detonator to Cuba, accounting for a 58% share of total imports. Moreover, fuse and detonator imports from Russia exceeded the figures recorded by the second-largest supplier, Turkey (X tons), twofold. Chile (X tons) ranked third in terms of total imports with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia amounted to +30.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+2,713.4% per year) and Chile (+42.8% per year).

In value terms, Russia ($X) constituted the largest supplier of safety fuses, detonating fuses and electric detonators to Cuba, comprising 54% of total imports. The second position in the ranking was taken by Turkey ($X), with a 23% share of total imports. It was followed by Chile, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Russia totaled +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+3,206.0% per year) and Chile (+3.1% per year).

Import Prices by Country

The average fuse and detonator import price stood at $X per ton in 2021, reducing by -30.8% against the previous year. Overall, the import price continues to indicate a deep slump. The pace of growth was the most pronounced in 2017 an increase of 92% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, 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 Canada ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+17.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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