Puerto Rico: Spades And Shovels Market 2024

Spades And Shovels Market Size in Puerto Rico

The Puerto Rican spades and shovels market totaled $X in 2021, remaining constant against the previous year. In general, consumption saw a buoyant increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Spades And Shovels Production in Puerto Rico

In value terms, spades and shovels production totaled $X in 2021 estimated in export price. In general, production saw a buoyant increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by 45%. Over the period under review, production hit record highs at $X in 2019; afterwards, it flattened through to 2021.

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Spades And Shovels Exports

Exports from Puerto Rico

In 2021, exports of spades and shovels from Puerto Rico totaled less than X kg, remaining relatively unchanged against the year before. Over the period under review, exports showed a relatively flat trend pattern.

In value terms, spades and shovels exports stood at less than $X in 2021. In general, exports showed a relatively flat trend pattern.

Exports by Country

China prevails in exports structure, recording X tons, which was approx. 73% of total exports in 2021. The following exporters - Mexico (X tons), India (X tons), Brazil (X tons), Poland (X tons) and the Netherlands (X tons) - together made up 17% of total exports.

From 2012 to 2021, average annual rates of growth with regard to spades and shovels exports from China stood at +5.0%. At the same time, the Netherlands (+24.2%), Brazil (+7.6%), Poland (+6.5%), India (+5.3%) and Mexico (+3.2%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +24.2% from 2012-2021. While the share of China (+2.2 p.p.) and the Netherlands (+2 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest spades and shovels supplier from Puerto Rico, comprising 66% of global exports. The second position in the ranking was held by Mexico ($X), with a 7.5% share of global exports. It was followed by Poland, with a 3.1% share.

In China, spades and shovels exports expanded at an average annual rate of +9.5% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Mexico (+9.1% per year) and Poland (+5.6% per year).

Export Prices by Country

The export price in Puerto Rico stood at less than $X per ton in 2021, approximately mirroring the previous year. In general, the export price continues to indicate a relatively flat trend pattern.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+5.7%), while the other leaders experienced more modest paces of growth.

Spades And Shovels Imports

Imports into Puerto Rico

In 2021, the amount of spades and shovels imported into Puerto Rico was estimated at less than X kg, therefore, remained relatively stable against the previous year's figure. In general, imports showed a relatively flat trend pattern.

In value terms, spades and shovels 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

In 2021, the United States (X tons), distantly followed by the UK (X tons) and Russia (X tons) were the main importers of spades and shovels, together constituting 22% of total imports. Germany (X tons), the Netherlands (X tons), Ghana (X tons), France (X tons), Cameroon (X tons), Nigeria (X tons), Sri Lanka (X tons), Peru (X tons), Malaysia (X tons) and Canada (X tons) followed a long way behind the leaders.

Imports into the United States increased at an average annual rate of +1.1% from 2012 to 2021. At the same time, Cameroon (+23.4%), Sri Lanka (+20.8%), the Netherlands (+20.4%), Russia (+13.2%), France (+8.3%), the UK (+6.7%), Ghana (+5.2%) and Peru (+3.9%) displayed positive paces of growth. Moreover, Cameroon emerged as the fastest-growing importer imported in the world, with a CAGR of +23.4% from 2012-2021. Germany, Canada and Nigeria experienced a relatively flat trend pattern. By contrast, Malaysia (-10.6%) illustrated a downward trend over the same period. While the share of the Netherlands (+2.9 p.p.), Russia (+2.8 p.p.), Cameroon (+1.7 p.p.), the UK (+1.6 p.p.) and Sri Lanka (+1.6 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of Malaysia (-4.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported spades and shovels into Puerto Rico, comprising 22% of global imports. The second position in the ranking was taken by Germany ($X), with a 6% share of global imports. It was followed by the UK, with a 5.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United States amounted to +7.7%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+2.4% per year) and the UK (+6.0% per year).

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. Over the period under review, the import price recorded 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 ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+9.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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