Cuba: Table Flatware Market 2024

Table Flatware Market Size in Cuba

The Cuban table flatware market shrank to $X in 2021, which is down by -14.4% against the previous year. Over the period under review, consumption, however, continues to indicate a strong increase. Table flatware consumption peaked at $X in 2020, and then declined in the following year.

Table Flatware Production in Cuba

In value terms, table flatware production fell to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 72%. Over the period under review, production attained the peak level at $X in 2020, and then contracted in the following year.

Table Flatware Exports

Exports from Cuba

In 2021, approx. X kg of table flatware were exported from Cuba; waning by -13.5% against 2020 figures. In general, exports saw a dramatic downturn. The growth pace was the most rapid in 2018 with an increase of 105% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, table flatware exports declined to $X in 2021. Overall, exports continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2019 when exports increased by 134%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Slovakia (X kg), Angola (X kg) and Jamaica (X kg) were the main destinations of table flatware exports from Cuba, together accounting for 84% of total exports. Costa Rica and the Dominican Republic lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2021, the biggest increases were in the Dominican Republic (with a CAGR of +32.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Slovakia ($X) remains the key foreign market for table flatware exports from Cuba, comprising 80% of total exports. The second position in the ranking was held by Angola ($X), with a 12% share of total exports. It was followed by Costa Rica, with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Slovakia stood at +12.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (-3.2% per year) and Costa Rica (+37.9% per year).

Export Prices by Country

The average table flatware export price stood at $X per ton in 2021, approximately equating the previous year. In general, the export price recorded resilient growth. The pace of growth was the most pronounced in 2019 an increase of 152% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Slovakia ($X per ton), while the average price for exports to Jamaica ($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 Costa Rica (+5.6%), while the prices for the other major destinations experienced mixed trend patterns.

Table Flatware Imports

Imports into Cuba

In 2021, purchases abroad of table flatware decreased by -45.3% to X tons, falling for the fourth year in a row after three years of growth. In general, imports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2015 when imports increased by 77%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, table flatware imports plummeted to $X in 2021. Over the period under review, imports recorded a deep contraction. The growth pace was the most rapid in 2015 when imports increased by 84%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Brazil (X tons) and Spain (X tons) were the main suppliers of table flatware imports to Cuba, together comprising 85% of total imports. Mexico, Panama, Mozambique and Italy lagged somewhat behind, together comprising a further 13%.

From 2012 to 2021, the biggest increases were in Mexico (with a CAGR of +38.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest table flatware suppliers to Cuba were China ($X), Brazil ($X) and Spain ($X), with a combined 79% share of total imports. These countries were followed by Mexico, Panama, Mozambique and Italy, which together accounted for a further 16%.

In terms of the main suppliers, Mexico, with a CAGR of +35.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average table flatware import price amounted to $X per ton, declining by -20.2% against the previous year. In general, import price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, table flatware import price increased by +20.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 50% against the previous year. The import price peaked 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, the country with the highest price was Mozambique ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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