Costa Rica: Electrical Circuit Apparatus Market 2024

Electrical Circuit Apparatus Market Size in Costa Rica

In 2021, after two years of growth, there was significant decline in the Costa Rican electrical circuit apparatus market, when its value decreased by X% to $X. In general, the total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by X% against 2018 indices. As a result, consumption attained the peak level of $X, and then shrank rapidly in the following year.

Electrical Circuit Apparatus Production in Costa Rica

In value terms, electrical circuit apparatus production declined markedly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a deep setback. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Electrical Circuit Apparatus Exports

Exports from Costa Rica

In 2021, overseas shipments of electrical apparatus for circuit connection, switching and protection were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, recorded a deep contraction. The exports peaked at X units in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, electrical circuit apparatus exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a deep setback. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X units), Guatemala (X units) and Ecuador (X units) were the main destinations of electrical circuit apparatus exports from Costa Rica, together comprising X% of total exports. Honduras, El Salvador, the Dominican Republic, Nicaragua and Panama lagged somewhat behind, together comprising a further X%.

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

In value terms, the United States ($X) remains the key foreign market for electrical apparatus for circuit connection, switching and protection exports from Costa Rica, comprising X% of total exports. The second position in the ranking was held by Guatemala ($X), with an X% share of total exports. It was followed by Panama, with a X% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (X% per year) and Panama (X% per year).

Export Prices by Country

In 2021, the average electrical circuit apparatus export price amounted to $X per unit, with an increase of X% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of X%. The growth pace was the most rapid in 2017 an increase of X% against the previous year. The export price peaked in 2021 and is likely to see steady growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Panama (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Circuit Apparatus Imports

Imports into Costa Rica

In 2021, overseas purchases of electrical apparatus for circuit connection, switching and protection increased by X% to X units, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of X% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Imports peaked at X units in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, electrical circuit apparatus imports totaled $X in 2021. The total import value increased at an average annual rate of X% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the near future.

Imports by Country

China (X units), the United States (X units) and Mexico (X units) were the main suppliers of electrical circuit apparatus imports to Costa Rica, with a combined X% share of total imports. Colombia, the Dominican Republic and Panama lagged somewhat behind, together comprising a further X%.

From 2012 to 2021, the biggest increases were recorded for the Dominican Republic (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of electrical apparatus for circuit connection, switching and protection to Costa Rica, comprising X% of total imports. The second position in the ranking was taken by China ($X), with an X% share of total imports. It was followed by Mexico, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Mexico (X% per year).

Import Prices by Country

In 2021, the average electrical circuit apparatus import price amounted to $X per unit, dropping by X% against the previous year. Over the last nine years, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2019 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per unit in 2020, and then contracted notably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Colombia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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