Guatemala: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in Guatemala

The Guatemalan worked wax articles market declined to $X in 2022, reducing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, showed strong growth. Worked wax articles consumption peaked at $X in 2021, and then contracted in the following year.

Worked Wax Articles Exports

Exports from Guatemala

Worked wax articles exports from Guatemala surged to X units in 2022, rising by X% compared with the previous year's figure. In general, exports recorded a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, worked wax articles exports surged to $X in 2022. Overall, exports posted a buoyant increase. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Nicaragua (X units), El Salvador (X units) and Costa Rica (X units) were the main destinations of worked wax articles exports from Guatemala, together comprising X% of total exports. These countries were followed by Honduras, which accounted for a further X%.

From 2012 to 2022, the biggest increases were recorded for Honduras (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for worked wax articles exported from Guatemala were El Salvador ($X), Nicaragua ($X) and Costa Rica ($X), together accounting for X% of total exports. These countries were followed by Honduras, which accounted for a further X%.

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

Export Prices by Country

In 2022, the average worked wax articles export price amounted to $X per unit, shrinking by X% against the previous year. Over the period under review, the export price recorded a abrupt setback. The most prominent rate of growth was recorded in 2021 an increase of X%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 Honduras ($X per unit), while the average price for exports to Nicaragua ($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 Honduras (X%), while the prices for the other major destinations experienced a decline.

Worked Wax Articles Imports

Imports into Guatemala

In 2022, worked wax articles imports into Guatemala skyrocketed to X units, with an increase of X% on 2021. Over the period under review, imports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, worked wax articles imports skyrocketed to $X in 2022. In general, total imports indicated a remarkable increase 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, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of worked wax articles to Guatemala, with a X% share of total imports. Moreover, worked wax articles imports from China exceeded the figures recorded by the second-largest supplier, India (X units), sixfold. Brazil (X units) ranked third in terms of total imports with an X% share.

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

In value terms, China ($X), Brazil ($X) and Colombia ($X) constituted the largest worked wax articles suppliers to Guatemala, together accounting for X% of total imports.

Brazil, with a CAGR of X%, recorded 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

The average worked wax articles import price stood at $X per unit in 2022, remaining constant against the previous year. Overall, the import price, however, recorded a noticeable slump. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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