Guatemala: Ball Bearing Parts Market 2024

Ball Bearing Parts Market Size in Guatemala

The Guatemalan ball bearing parts market dropped slightly to $X in 2022, shrinking by X% against the previous year. Overall, consumption showed a abrupt slump. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Ball Bearing Parts Production in Guatemala

In value terms, ball bearing parts production declined to $X in 2022 estimated in export price. Over the period under review, production showed a abrupt setback. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. Ball bearing parts production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Ball Bearing Parts Exports

Exports from Guatemala

In 2022, the amount of parts of ball or roller bearings exported from Guatemala skyrocketed to X tons, jumping by X% on 2021. Over the period under review, exports enjoyed a significant increase. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, ball bearing parts exports skyrocketed to $X in 2022. In general, exports continue to indicate a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Honduras (X tons) was the main destination for ball bearing parts exports from Guatemala, accounting for a X% share of total exports. It was followed by El Salvador (X kg), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Honduras totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (X% per year) and Nicaragua (X% per year).

In value terms, Honduras ($X) remains the key foreign market for parts of ball or roller bearings exports from Guatemala, comprising X% of total exports. The second position in the ranking was held by El Salvador ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Honduras stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (X% per year) and Nicaragua (X% per year).

Export Prices by Country

The average ball bearing parts export price stood at $X per ton in 2022, shrinking by X% against the previous year. In general, the export price continues to indicate a mild reduction. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Nicaragua ($X per ton), while the average price for exports to Honduras ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nicaragua (X%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Bearing Parts Imports

Imports into Guatemala

Ball bearing parts imports into Guatemala declined to X tons in 2022, waning by X% compared with the year before. In general, imports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, ball bearing parts imports contracted to $X in 2022. Overall, imports, however, continue to indicate a prominent increase. The growth pace was the most rapid in 2013 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), the United States (X tons) and Panama (X tons) were the main suppliers of ball bearing parts imports to Guatemala, with a combined X% share of total imports. Japan, Sweden, Switzerland, India, Mexico, Germany, France, Taiwan (Chinese) and Belgium lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of parts of ball or roller bearings to Guatemala, comprising X% of total imports. The second position in the ranking was taken by Panama ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the average ball bearing parts import price amounted to $X per ton, dropping by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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