Price for Electric Motors; of an Output Not Exceeding 37.5W in Costa Rica - 2022
Contents:
- Price for Electric Motors; of an Output Not Exceeding 37.5W in Costa Rica (CIF) - 2022
- Price for Electric Motors; of an Output Not Exceeding 37.5W in Costa Rica (FOB) - 2022
- Imports of Electric Motors; of an Output Not Exceeding 37.5W in Costa Rica
- Exports of Electric Motors; of an Output Not Exceeding 37.5W in Costa Rica
Price for Electric Motors; of an Output Not Exceeding 37.5W in Costa Rica (CIF) - 2022
The average import price for electric motors stood at $11 per unit in 2022, with a decrease of -11.8% against the previous year. Over the period under review, the import price recorded a deep reduction. The most prominent rate of growth was recorded in 2017 an increase of 8.1%. Over the period under review, average import prices reached the maximum at $23 per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Mexico ($15 per unit), while the price for the United States ($6.6 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (-6.2%), while the prices for the other major suppliers experienced a decline.
Price for Electric Motors; of an Output Not Exceeding 37.5W in Costa Rica (FOB) - 2022
The average export price for electric motors stood at $87 per unit in 2022, with a decrease of -13% against the previous year. Over the period under review, the export price, however, showed a measured expansion. The most prominent rate of growth was recorded in 2014 when the average export price increased by 78%. Over the period under review, the average export prices hit record highs at $106 per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($208 per unit), while the average price for exports to the United States ($15 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Honduras (+22.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Electric Motors; of an Output Not Exceeding 37.5W in Costa Rica
For the fourth consecutive year, Costa Rica recorded growth in purchases abroad of electric motors, which increased by 19% to 372K units in 2022. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +15.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.7% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 26%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the immediate term.
In value terms, imports of electric motors reached $3.9M in 2022. Overall, total imports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +13.5% 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 +46.1% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 33% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Electric Motors; of an Output Not Exceeding 37.5W in Costa Rica (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1,059 | 1,127 | 1,407 | 1,553 | 13.6% |
| China | 496 | 507 | 626 | 781 | 16.3% |
| Mexico | 119 | 64.7 | 96.1 | 281 | 33.2% |
| Others | 1,001 | 1,092 | 1,593 | 1,293 | 8.9% |
| Total | 2,675 | 2,791 | 3,722 | 3,908 | 13.5% |
Top Suppliers of Electric Motors; of an Output Not Exceeding 37.5W to Costa Rica in 2022:
- United States (235.5K units)
- China (104.2K units)
- Mexico (18.8K units)
Exports of Electric Motors; of an Output Not Exceeding 37.5W in Costa Rica
In 2022, exports of electric motors from Costa Rica soared to 2K units, increasing by 21% on the previous year's figure. Over the period under review, exports continue to indicate significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 246%. The exports peaked in 2022 and are likely to see steady growth in years to come.
In value terms, exports of electric motors expanded rapidly to $174K in 2022. In general, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 493%. The exports peaked in 2022 and are expected to retain growth in the near future.
| Export of Electric Motors; of an Output Not Exceeding 37.5W in Costa Rica (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Nicaragua | 0.2 | 0.7 | 1.7 | 75.8 | 623.7% |
| Honduras | 1.5 | N/A | 21.3 | 19.9 | 136.7% |
| United States | 9.8 | 5.6 | 3.6 | 15.3 | 16.0% |
| Panama | 0.2 | 0.8 | 9.9 | 8.0 | 242.0% |
| Japan | 5.0 | 3.5 | 7.7 | 7.8 | 16.0% |
| Canada | 0.4 | 0.4 | 7.7 | 7.1 | 160.9% |
| United Kingdom | 4.6 | 2.8 | 5.4 | 4.4 | -1.5% |
| Colombia | 0.7 | 0.3 | 4.4 | 2.4 | 50.8% |
| Ireland | 1.9 | 1.1 | 2.1 | 1.8 | -1.8% |
| Uruguay | 0.4 | 0.5 | 1.4 | 1.5 | 55.4% |
| Dominican Republic | 9.8 | N/A | 1.7 | 1.2 | -50.3% |
| Guatemala | 0.9 | 1.7 | 65.2 | 0.8 | -3.9% |
| Argentina | 0.2 | 0.5 | 1.7 | 0.8 | 58.7% |
| Others | 19.6 | 10.0 | 31.8 | 27.6 | 12.1% |
| Total | 55.1 | 28.0 | 166 | 174 | 46.7% |
Top Export Markets for Electric Motors; of an Output Not Exceeding 37.5W from Costa Rica in 2022:
- United States (1009.0 units)
- Nicaragua (384.0 units)
- Colombia (125.0 units)
- Honduras (99.0 units)
- Canada (49.0 units)
- Uruguay (41.0 units)
- Panama (40.0 units)
- Japan (39.0 units)
- Argentina (35.0 units)
- Ireland (30.0 units)
- United Kingdom (15.0 units)
- Guatemala (4.0 units)
- Dominican Republic (2.0 units)
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