Puerto Rico: Domestic Appliances Market 2024

Domestic Appliances Market Size in Puerto Rico

In 2021, the Puerto Rican domestic appliances market increased by 2.8% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Domestic Appliances Production in Puerto Rico

In value terms, domestic appliances production stood at $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 14% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Domestic Appliances Exports

Exports from Puerto Rico

In 2021, domestic appliances exports from Puerto Rico totaled less than X units, remaining constant against the previous year. Over the period under review, exports recorded a relatively flat trend pattern.

In value terms, domestic appliances exports amounted to less than $X in 2021. Overall, exports recorded a relatively flat trend pattern.

Exports by Country

China represented the main exporter of domestic appliances in the world, with the volume of exports recording X units, which was near 47% of total exports in 2021. Turkey (X units) held a 12% share (based on physical terms) of total exports, which put it in second place, followed by Poland (6.2%). The following exporters - Mexico (X units), Germany (X units), Italy (X units), Romania (X units), the Netherlands (X units), the United States (X units), Thailand (X units) and Spain (X units) - together made up 19% of total exports.

From 2012 to 2021, average annual rates of growth with regard to domestic appliances exports from China stood at +9.6%. At the same time, Turkey (+14.8%), the Netherlands (+6.8%), Romania (+5.9%), Poland (+5.0%), Mexico (+3.1%) and Germany (+2.1%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the world, with a CAGR of +14.8% from 2012-2021. Spain experienced a relatively flat trend pattern. By contrast, the United States (-2.0%), Thailand (-2.6%) and Italy (-2.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China and Turkey increased by +12 and +6.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest domestic appliances supplier from Puerto Rico, comprising 39% of global exports. The second position in the ranking was taken by Turkey ($X), with a 7.7% share of global exports. It was followed by Germany, with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +8.4%. In the other countries, the average annual rates were as follows: Turkey (+13.6% per year) and Germany (+3.5% per year).

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per thousand units, approximately equating the previous year. Overall, the export price recorded a relatively flat trend pattern.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Thailand ($X per thousand units), while Romania ($X per thousand units) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+6.8%), while the other leaders experienced more modest paces of growth.

Domestic Appliances Imports

Imports into Puerto Rico

Domestic appliances imports into Puerto Rico stood at less than X units in 2021, remaining stable against 2020. Over the period under review, imports continue to indicate a relatively flat trend pattern.

In value terms, domestic appliances imports totaled less than $X in 2021. In general, imports recorded a relatively flat trend pattern.

Imports by Country

In 2021, the United States (X units), distantly followed by Germany (X units), the UK (X units) and France (X units) were the key importers of domestic appliances, together generating 35% of total imports. Italy (X units), the Netherlands (X units), Turkey (X units), Japan (X units), Spain (X units), Russia (X units), Canada (X units), Poland (X units) and Australia (X units) took a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to domestic appliances imports into the United States stood at +6.9%. At the same time, Turkey (+9.3%), the Netherlands (+8.4%), Spain (+7.6%), Poland (+6.2%), Italy (+5.2%), Germany (+4.1%), Canada (+3.4%), the UK (+3.2%), Australia (+2.2%) and France (+2.2%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing importer imported in the world, with a CAGR of +9.3% from 2012-2021. Japan experienced a relatively flat trend pattern. By contrast, Russia (-2.6%) illustrated a downward trend over the same period. The United States (+3.8 p.p.) significantly strengthened its position in terms of the global imports, while Russia saw its share reduced by -2.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported domestic appliances into Puerto Rico, comprising 20% of global imports. The second position in the ranking was held by Germany ($X), with an 8.3% share of global imports. It was followed by France, with a 4.9% share.

In the United States, domestic appliances imports expanded at an average annual rate of +7.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Germany (+6.1% per year) and France (+4.1% per year).

Import Prices by Country

In 2021, the import price in Puerto Rico amounted to less than $X per thousand units, stabilizing at the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($X per thousand units), while Turkey ($X per thousand units) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+3.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :