Puerto Rico: Wire And Cable Market 2024

Wire And Cable Market Size in Puerto Rico

The Puerto Rican wire and cable market rose modestly to $X in 2021, with an increase of 3.3% against the previous year. Over the period under review, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -3.1% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Wire And Cable Production in Puerto Rico

In value terms, wire and cable production rose modestly to $X in 2021 estimated in export price. Overall, the total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -3.2% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 48% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Wire And Cable Exports

Exports from Puerto Rico

In 2021, the amount of insulated wire and cable exported from Puerto Rico amounted to less than X kg, approximately mirroring the previous year's figure. Overall, exports continue to indicate a relatively flat trend pattern.

In value terms, wire and cable exports stood at less than $X in 2021. Over the period under review, exports showed a relatively flat trend pattern.

Exports by Country

China was the major exporter of insulated wire and cable in the world, with the volume of exports reaching X tons, which was approx. 23% of total exports in 2021. It was distantly followed by Mexico (X tons), Germany (X tons) and Italy (X tons), together creating a 17% share of total exports. Turkey (X tons), the United States (X tons), South Korea (X tons), Vietnam (X tons), Romania (X tons), Poland (X tons), the Czech Republic (X tons), Tunisia (X tons) and Spain (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +3.3% from 2012 to 2021. At the same time, Vietnam (+12.1%), Tunisia (+9.0%), Mexico (+4.6%), Romania (+3.5%), Italy (+3.5%), Turkey (+3.1%), Poland (+2.9%), Spain (+1.7%) and Germany (+1.6%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of +12.1% from 2012-2021. The Czech Republic and South Korea experienced a relatively flat trend pattern. By contrast, the United States (-5.4%) illustrated a downward trend over the same period. China (+1.5 p.p.) and Vietnam (+1.5 p.p.) significantly strengthened its position in terms of the global exports, while the United States saw its share reduced by -3.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest wire and cable supplier from Puerto Rico, comprising 19% of global exports. The second position in the ranking was held by Mexico ($X), with an 8.9% 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 stood at +5.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Mexico (+4.8% per year) and Germany (+3.8% per year).

Export Prices by Country

The export price in Puerto Rico stood at less than $X per ton in 2021, standing approx. at the previous year. In general, 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 the United States ($X per ton), while Turkey ($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 States (+5.8%), while the other leaders experienced more modest paces of growth.

Wire And Cable Imports

Imports into Puerto Rico

In 2021, imports of insulated wire and cable into Puerto Rico stood at less than X kg, remaining stable against the previous year's figure. Over the period under review, imports continue to indicate a relatively flat trend pattern.

In value terms, wire and cable imports totaled less than $X in 2021. Overall, imports recorded a relatively flat trend pattern.

Imports by Country

In 2021, the United States (X tons), Mexico (X tons) and Germany (X tons) represented the major importer of insulated wire and cable in the world, constituting 26% of total import. The UK (X tons), Japan (X tons), France (X tons), Austria (X tons), the Czech Republic (X tons), Spain (X tons), Poland (X tons), Hong Kong SAR (X tons), Thailand (X tons) and South Korea (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +9.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wire and cable importing markets into Puerto Rico were the United States ($X), Germany ($X) and Japan ($X), with a combined 32% share of total imports. Mexico, the UK, France, South Korea, the Czech Republic, Hong Kong SAR, Spain, Poland, Austria and Thailand lagged somewhat behind, together accounting for a further 25%.

In terms of the main importing countries, Poland, with a CAGR of +7.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Puerto Rico stood at less than $X per ton in 2021, leveling off at the previous year. Overall, the import price showed 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 the United States ($X per ton), while Mexico ($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 Czech Republic (+6.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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