Puerto Rico: Luggage Market 2024

Luggage Market Size in Puerto Rico

The Puerto Rican luggage market reached $X in 2021, growing by 6.8% against the previous year. Over the period under review, consumption posted a remarkable increase. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Luggage Production in Puerto Rico

In value terms, luggage production expanded sharply to $X in 2021 estimated in export price. In general, production enjoyed a prominent increase. The pace of growth was the most pronounced in 2015 when the production volume increased by 39% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Luggage Exports

Exports from Puerto Rico

Luggage exports from Puerto Rico totaled less than X kg in 2021, remaining constant against the year before. In general, exports recorded a relatively flat trend pattern.

In value terms, luggage exports amounted to less than $X in 2021. Over the period under review, exports saw a relatively flat trend pattern.

Exports by Country

China dominates exports structure, accounting for X tons, which was near 77% of total exports in 2021. The following exporters - Italy (X tons), Vietnam (X tons) and the Netherlands (X tons) - each accounted for a 5.4% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to luggage exports from China stood at -4.7%. At the same time, the Netherlands (+4.4%) and Vietnam (+2.3%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +4.4% from 2012-2021. Italy experienced a relatively flat trend pattern. China (-7.9 p.p.) significantly weakened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest luggage supplying countries from Puerto Rico were China ($X), Italy ($X) and the Netherlands ($X), together accounting for 54% of total exports.

The Netherlands, with a CAGR of +11.5%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Puerto Rico stood at less than $X per ton in 2021, approximately equating the previous year. Over the period under review, the export price showed a relatively flat trend pattern.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.8%), while the other leaders experienced more modest paces of growth.

Luggage Imports

Imports into Puerto Rico

In 2021, approx. less than X kg of luggage and handbags were imported into Puerto Rico; approximately reflecting 2020. Over the period under review, imports saw a relatively flat trend pattern.

In value terms, luggage imports amounted to less than $X in 2021. Overall, imports saw a relatively flat trend pattern.

Imports by Country

In 2021, the United States (X tons), distantly followed by Thailand (X tons), Hong Kong SAR (X tons), Germany (X tons), Italy (X tons), South Korea (X tons), France (X tons), the UK (X tons), the Netherlands (X tons), the United Arab Emirates (X tons), Indonesia (X tons), Spain (X tons) and Saudi Arabia (X tons) represented the key importers of luggage and handbags, together generating 50% of total imports. Thailand (X tons), Hong Kong SAR (X tons), Germany (X tons), Italy (X tons), South Korea (X tons), France (X tons), the UK (X tons), the Netherlands (X tons), the United Arab Emirates (X tons), Indonesia (X tons), Spain (X tons) and Saudi Arabia (X tons) followed a long way behind the leaders.

The United States experienced a relatively flat trend pattern with regard to volume of imports of luggage and handbags. At the same time, Thailand (+22.3%), Indonesia (+3.5%) and the Netherlands (+2.7%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in the world, with a CAGR of +22.3% from 2012-2021. South Korea experienced a relatively flat trend pattern. By contrast, Germany (-3.4%), Italy (-3.8%), the United Arab Emirates (-5.0%), France (-5.5%), Spain (-6.6%), Hong Kong SAR (-6.6%), the UK (-8.0%) and Saudi Arabia (-8.4%) illustrated a downward trend over the same period. Thailand (+3.9 p.p.) and the United States (+1.6 p.p.) significantly strengthened its position in terms of the global imports, while Saudi Arabia, Hong Kong SAR and the UK saw its share reduced by -1.5%, -1.9% and -2.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest luggage importing markets into Puerto Rico were the United States ($X), France ($X) and Hong Kong SAR ($X), with a combined 26% share of total imports. These countries were followed by South Korea, Italy, Germany, the UK, the United Arab Emirates, the Netherlands, Spain, Thailand, Saudi Arabia and Indonesia, which together accounted for a further 28%.

South Korea, with a CAGR of +7.8%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Puerto Rico stood at less than $X per ton in 2021, approximately mirroring the previous year. Over the period under review, the import price saw a relatively flat trend pattern.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+10.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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