Puerto Rico: Safes And Strongboxes Market 2024

Safes And Strongboxes Market Size in Puerto Rico

In 2021, the Puerto Rican safes and strongboxes market increased by 21% to $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption, however, saw a abrupt contraction. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Safes And Strongboxes Production in Puerto Rico

In value terms, safes and strongboxes production soared to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2015 with an increase of 26% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

Safes And Strongboxes Exports

Exports from Puerto Rico

In 2021, safes and strongboxes exports from Puerto Rico was estimated at less than X kg, remaining relatively unchanged against 2020. Overall, exports showed a relatively flat trend pattern.

In value terms, safes and strongboxes exports totaled less than $X in 2021. Over the period under review, exports showed a relatively flat trend pattern.

Exports by Country

China prevails in exports structure, recording X tons, which was near 52% of total exports in 2021. The Netherlands (X tons) ranks second in terms of the total exports with a 7.2% share, followed by South Korea (5.9%) and Mexico (5.7%). Poland (X tons), Portugal (X tons), Germany (X tons), Italy (X tons), the Czech Republic (X tons), the United States (X tons), Thailand (X tons) and Romania (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to safes and strongboxes exports from China stood at +2.9%. At the same time, Mexico (+10.3%), Portugal (+5.2%) and Italy (+3.3%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter exported in the world, with a CAGR of +10.3% from 2012-2021. The Czech Republic and Poland experienced a relatively flat trend pattern. By contrast, the Netherlands (-1.3%), Germany (-2.4%), South Korea (-2.7%), the United States (-4.5%), Romania (-5.0%) and Thailand (-6.3%) illustrated a downward trend over the same period. China (+7.9 p.p.) and Mexico (+3.1 p.p.) significantly strengthened its position in terms of the global exports, while the Netherlands and South Korea saw its share reduced by -1.7% and -2.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest safes and strongboxes supplier from Puerto Rico, comprising 43% of global exports. The second position in the ranking was taken by Mexico ($X), with a 9.7% share of global exports. It was followed by Italy, with a 4.8% share.

In China, safes and strongboxes exports expanded at an average annual rate of +5.6% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Mexico (+13.6% per year) and Italy (+3.2% per year).

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per ton, standing approx. at the previous year. In general, the export price recorded a relatively flat trend pattern.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Italy ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+5.0%), while the other leaders experienced more modest paces of growth.

Safes And Strongboxes Imports

Imports into Puerto Rico

In 2021, the amount of safes, strongboxes and doors of base metal imported into Puerto Rico stood at less than X kg, approximately mirroring 2020. Over the period under review, imports saw a relatively flat trend pattern.

In value terms, safes and strongboxes imports stood at less than $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern.

Imports by Country

The United States was the major importing country with an import of about X tons, which finished at 49% of total imports. It was distantly followed by Germany (X tons), committing an 8.7% share of total imports. The following importers - France (X tons), the UK (X tons), Italy (X tons), the Netherlands (X tons), Canada (X tons), the United Arab Emirates (X tons), Austria (X tons) and Portugal (X tons) - each reached a 14% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to safes and strongboxes imports into the United States stood at +6.6%. At the same time, Portugal (+24.8%), the Netherlands (+5.6%), France (+4.2%), Italy (+2.9%) and Austria (+1.1%) displayed positive paces of growth. Moreover, Portugal emerged as the fastest-growing importer imported in the world, with a CAGR of +24.8% from 2012-2021. Germany, the United Arab Emirates, the UK and Canada experienced a relatively flat trend pattern. While the share of the United States (+14 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of Germany (-1.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported safes, strongboxes and doors of base metal into Puerto Rico, comprising 34% of global imports. The second position in the ranking was taken by Germany ($X), with a 9.9% share of global imports. It was followed by France, with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United States stood at +5.2%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+2.6% per year) and France (+6.8% per year).

Import Prices by Country

In 2021, the import price in Puerto Rico amounted to less than $X per ton, leveling off at the previous year. In general, the import price showed a relatively flat trend pattern.

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

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

Source: IndexBox Platform

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