Guatemala: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in Guatemala

The Guatemalan market for processed petroleum oils and distillates skyrocketed to $X in 2022, with an increase of X% against the previous year. In general, consumption enjoyed prominent growth. Processed petroleum oils and distillates consumption peaked in 2022 and is expected to retain growth in years to come.

Production of Processed Petroleum Oils and Distillates in Guatemala

In value terms, processed petroleum oils and distillates production declined modestly to $X in 2022 estimated in export price. Overall, production showed a abrupt downturn. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Processed Petroleum Oils and Distillates

Exports from Guatemala

In 2022, the amount of processed petroleum oils and distillates exported from Guatemala dropped significantly to X tons, which is down by X% against the year before. Over the period under review, exports, however, recorded a mild increase. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, processed petroleum oils and distillates exports skyrocketed to $X in 2022. Overall, exports, however, enjoyed tangible growth. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Belize (X tons) was the main destination for processed petroleum oils and distillates exports from Guatemala, accounting for a X% share of total exports. Moreover, processed petroleum oils and distillates exports to Belize exceeded the volume sent to the second major destination, El Salvador (X tons), threefold. Honduras (X tons) ranked third in terms of total exports with a X% share.

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

In value terms, Belize ($X) remains the key foreign market for processed petroleum oils and distillates exports from Guatemala, comprising X% of total exports. The second position in the ranking was held by El Salvador ($X), with a X% share of total exports. It was followed by Nicaragua, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Belize 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

In 2022, the average export price for processed petroleum oils and distillates amounted to $X per ton, surging by X% against the previous year. Overall, the export price posted a modest expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Costa Rica ($X per ton), while the average price for exports to Panama ($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 the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Processed Petroleum Oils and Distillates

Imports into Guatemala

In 2022, the amount of processed petroleum oils and distillates imported into Guatemala soared to X tons, increasing by X% compared with 2021 figures. Over the period under review, imports recorded a resilient increase. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, processed petroleum oils and distillates imports surged to $X in 2022. Overall, imports saw a buoyant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) was the main supplier of processed petroleum oils and distillates to Guatemala, with a X% share of total imports. It was followed by Estonia (X tons), with a X% share of total imports. The third position in this ranking was held by Ecuador (X tons), with a X% share.

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

In value terms, the United States ($X) constituted the largest supplier of processed petroleum oils and distillates to Guatemala, comprising X% of total imports. The second position in the ranking was taken by Estonia ($X), with a X% share of total imports. It was followed by Ecuador, with a X% share.

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

Import Prices by Country

The average import price for processed petroleum oils and distillates stood at $X per ton in 2022, approximately reflecting the previous year. Overall, the import price showed a abrupt decline. The growth pace was the most rapid in 2015 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Estonia ($X per ton), while the price for Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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