Costa Rica: Market for Mechanical Shovels, Excavators And Shovel Loaders 2024

Market Size for Mechanical Shovels, Excavators And Shovel Loaders in Costa Rica

After two years of growth, the Costa Rican mechanical shovel and excavator market decreased by X% to $X in 2023. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2023, consumption remained at a lower figure.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports from Costa Rica

In 2023, exports of mechanical shovels, excavators and shovel loaders from Costa Rica skyrocketed to X units, rising by X% compared with 2022 figures. Over the period under review, exports, however, showed a abrupt decrease. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, mechanical shovel and excavator exports soared to $X in 2023. In general, exports, however, showed a deep reduction. The exports peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Nicaragua (X units) was the main destination for mechanical shovel and excavator exports from Costa Rica, accounting for a X% share of total exports. Moreover, mechanical shovel and excavator exports to Nicaragua exceeded the volume sent to the second major destination, the Netherlands (X units), fourfold. The third position in this ranking was taken by Honduras (X units), with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Nicaragua stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Honduras (X% per year).

In value terms, Nicaragua ($X) emerged as the key foreign market for mechanical shovels, excavators and shovel loaders exports from Costa Rica, comprising X% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total exports. It was followed by Guatemala, with a X% share.

From 2012 to 2023, the average annual growth rate of value to Nicaragua totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Guatemala (X% per year).

Export Prices by Country

The average mechanical shovel and excavator export price stood at $X per unit in 2023, surging by X% against the previous year. Overall, the export price, however, recorded a slight descent. The pace of growth appeared the most rapid in 2020 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to El Salvador ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports into Costa Rica

In 2023, the amount of mechanical shovels, excavators and shovel loaders imported into Costa Rica totaled X units, leveling off at the previous year's figure. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. Imports peaked at X units in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

In value terms, mechanical shovel and excavator imports shrank modestly to $X in 2023. In general, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

China (X units), Brazil (X units) and the United States (X units) were the main suppliers of mechanical shovel and excavator imports to Costa Rica, with a combined X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for China (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), China ($X) and the United States ($X) constituted the largest mechanical shovel and excavator suppliers to Costa Rica, with a combined X% share of total imports.

China, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average mechanical shovel and excavator import price amounted to $X per unit, which is down by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2019; however, from 2020 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the UK ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform