Guatemala: Umbrella Market 2024

Umbrella Market Size in Guatemala

In 2022, the Guatemalan umbrella market increased by X% to $X, rising for the second consecutive year after three years of decline. In general, the total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in years to come.

Umbrella Exports

Exports from Guatemala

In 2022, overseas shipments of umbrellas decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. In general, exports continue to indicate a deep reduction. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, umbrella exports shrank rapidly to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Honduras (X units), El Salvador (X units) and Nicaragua (X units) were the main destinations of umbrella exports from Guatemala, together accounting for X% of total exports. Costa Rica, Panama and the Dominican Republic lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for the Dominican Republic (with a CAGR of X%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for umbrella exported from Guatemala were Honduras ($X), El Salvador ($X) and Costa Rica ($X), together accounting for X% of total exports.

Costa Rica, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average umbrella export price stood at $X per unit in 2022, increasing by X% against the previous year. Over the period under review, the export price continues to indicate a buoyant expansion. The pace of growth was the most pronounced in 2017 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Costa Rica ($X per unit), while the average price for exports to the Dominican Republic ($X 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 Costa Rica (X%), while the prices for the other major destinations experienced more modest paces of growth.

Umbrella Imports

Imports into Guatemala

In 2022, purchases abroad of umbrellas increased by X% to X units, rising for the second consecutive year after three years of decline. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of X%. Over the period under review, imports reached the maximum at X units in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, umbrella imports rose sharply to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X units) was the main supplier of umbrella to Guatemala, with a X% share of total imports. It was followed by the United States (X units), with a X% share of total imports. Mexico (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Mexico (X% per year).

In value terms, China ($X) constituted the largest supplier of umbrellas to Guatemala, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports. It was followed by Mexico, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Mexico (X% per year).

Import Prices by Country

In 2022, the average umbrella import price amounted to $X per unit, approximately equating the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the average import price increased by X%. As a result, import price attained the peak level of $X per unit, leveling off in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the United States ($X per unit) and China ($X per unit), while the price for Panama ($X per unit) and Mexico ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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