Puerto Rico: Public Works Machinery Market 2024

Public Works Machinery Market Size in Puerto Rico

In 2021, the Puerto Rican public works machinery market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption continues to indicate a resilient expansion. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Public Works Machinery Production in Puerto Rico

In value terms, public works machinery production expanded to $X in 2021 estimated in export price. Overall, production saw a buoyant increase. The growth pace was the most rapid in 2018 when the production volume increased by 107% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Public Works Machinery Exports

Exports from Puerto Rico

In 2021, approx. less than X units of machinery for public works and building were exported from Puerto Rico; therefore, remained relatively stable against 2020 figures. In general, exports recorded a relatively flat trend pattern.

In value terms, public works machinery exports stood at less than $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern.

Exports by Country

The shipments of the three major exporters of machinery for public works and building, namely Germany, India and Australia, represented more than half of total export. China (X units) took the next position in the ranking, followed by the United States (X units) and Singapore (X units). All these countries together held near 21% share of total exports. The following exporters - Italy (X units), Russia (X units), Belarus (X units) and the Netherlands (X units) - together made up 8.9% of total exports.

From 2012 to 2021, the biggest increases were recorded for Australia (with a CAGR of +48.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the largest public works machinery supplier from Puerto Rico, comprising 50% of global exports. The second position in the ranking was held by the United States ($X), with an 8.7% share of global exports. It was followed by China, with a 7.9% share.

In Germany, public works machinery exports increased at an average annual rate of +3.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United States (-4.4% per year) and China (+6.9% per year).

Export Prices by Country

The export price in Puerto Rico stood at less than $X per thousand units in 2021, almost unchanged from the previous year. Over the period under review, the export price showed a relatively flat trend pattern.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Italy ($X per thousand units), while Australia ($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 China (+28.7%), while the other leaders experienced more modest paces of growth.

Public Works Machinery Imports

Imports into Puerto Rico

In 2021, approx. less than X units of machinery for public works and building were imported into Puerto Rico; remaining relatively unchanged against the previous year. In general, imports showed a relatively flat trend pattern.

In value terms, public works machinery imports stood at less than $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern.

Imports by Country

Qatar dominates imports structure, amounting to X units, which was approx. 59% of total imports in 2021. It was distantly followed by the United States (X units), constituting an 8.3% share of total imports. Singapore (X units), Canada (X units), France (X units), South Korea (X units), Thailand (X units) and Russia (X units) held a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to public works machinery imports into Qatar stood at +2.7%. At the same time, Singapore (+22.5%), South Korea (+20.2%), the United States (+11.4%), Canada (+9.9%), France (+8.8%) and Thailand (+4.4%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in the world, with a CAGR of +22.5% from 2012-2021. By contrast, Russia (-13.0%) illustrated a downward trend over the same period. While the share of the United States (+3.8 p.p.) and Singapore (+2.1 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of Russia (-5.5 p.p.) and Qatar (-7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X), France ($X) and Russia ($X) were the countries with the highest levels of imports in 2021, with a combined 28% share of total imports. Canada, South Korea, Thailand, Qatar and Singapore lagged somewhat behind, together comprising a further 8.5%.

South Korea, with a CAGR of +11.4%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Puerto Rico amounted to less than $X per thousand units, remaining stable against the previous year. In general, the import price saw a relatively flat trend pattern.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Russia ($X per thousand units), while Qatar ($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 Russia (+5.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :