Price for Cycles; Parts Thereof, Wheel Rims and Spokes in Guatemala - 2023

Contents:

1. Price for Cycles; Parts Thereof, Wheel Rims and Spokes in Guatemala (CIF) - 2023
2. Price for Cycles; Parts Thereof, Wheel Rims and Spokes in Guatemala (FOB) - 2022
3. Imports of Cycles; Parts Thereof, Wheel Rims and Spokes in Guatemala
4. Exports of Cycles; Parts Thereof, Wheel Rims and Spokes in Guatemala

Price for Cycles; Parts Thereof, Wheel Rims and Spokes in Guatemala (CIF) - 2023

The average import price for cycles; parts thereof, wheel rims and spokeses stood at $2,915 per ton in December 2023, surging by 9.3% against the previous month. Overall, the import price, however, showed a slight reduction. The most prominent rate of growth was recorded in May 2023 when the average import price increased by 61% month-to-month. Over the period under review, average import prices hit record highs at $3,969 per ton in March 2023; however, from April 2023 to December 2023, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In December 2023, the country with the highest price was China ($2,903 per ton), while the price for the United States stood at $1,952 per ton.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by the United States (+7.7%).

Price for Cycles; Parts Thereof, Wheel Rims and Spokes in Guatemala (FOB) - 2022

In 2022, the average export price for cycles; parts thereof, wheel rims and spokeses amounted to $4,063 per ton, increasing by 6.9% against the previous year. Over the period under review, the export price, however, showed a noticeable curtailment. The pace of growth appeared the most rapid in 2021 when the average export price increased by 45%. Over the period under review, the average export prices hit record highs at $8,815 per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Honduras ($7,807 per ton), while the average price for exports to El Salvador ($3,456 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Honduras (+2.6%), while the prices for the other major destinations experienced a decline.

Imports of Cycles; Parts Thereof, Wheel Rims and Spokes in Guatemala

After three years of growth, overseas purchases of cycles; parts thereof, wheel rims and spokeses decreased by -19.7% to 611 tons in 2022. In general, total imports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +7.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +24.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 33%. As a result, imports attained the peak of 760 tons, and then dropped dramatically in the following year.

In value terms, imports of cycles; parts thereof, wheel rims and spokeses contracted to $2.4M in 2022. Overall, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +13.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +45.4% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 36%. As a result, imports reached the peak of $2.6M, and then dropped in the following year.

Top Suppliers of Cycles; Parts Thereof, Wheel Rims and Spokes to Guatemala in 2022:

1. China (541.6 tons)
2. United States (35.4 tons)
3. India (19.3 tons)
4. Taiwan (Chinese) (6.3 tons)

Exports of Cycles; Parts Thereof, Wheel Rims and Spokes in Guatemala

Exports of cycles; parts thereof, wheel rims and spokeses from Guatemala soared to 11 tons in 2022, growing by 279% against the previous year's figure. Overall, exports saw a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of cycles; parts thereof, wheel rims and spokeses soared to $43K in 2022. Over the period under review, exports recorded a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Cycles; Parts Thereof, Wheel Rims and Spokes from Guatemala in 2022:

1. El Salvador (7.4 tons)
2. Nicaragua (1.9 tons)
3. Honduras (1.0 tons)

Source: IndexBox Market Intelligence Platform