Cuba: Market for Electronic Instruments And Machines For Measuring Geometrical Quantities 2024

Market Size for Electronic Instruments And Machines For Measuring Geometrical Quantities in Cuba

After two years of decline, the Cuban geometrical quantities electronic measurer market increased by 43% to $X in 2022. In general, consumption, however, continues to indicate a drastic downturn. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Exports of Electronic Instruments And Machines For Measuring Geometrical Quantities

Exports from Cuba

In 2022, the amount of electronic instruments and machines for measuring geometrical quantities exported from Cuba dropped markedly to X units, with a decrease of -30.3% against the previous year's figure. In general, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when exports increased by 13,644%. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, geometrical quantities electronic measurer exports contracted notably to $X in 2022. Over the period under review, exports showed a perceptible setback. The most prominent rate of growth was recorded in 2014 with an increase of 839%. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Spain (X units) was the main destination for geometrical quantities electronic measurer exports from Cuba, accounting for a 48% share of total exports. It was followed by Slovakia (X units), with a 1.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Spain totaled +13.7%.

In value terms, Spain ($X) remains the key foreign market for electronic instruments and machines for measuring geometrical quantities exports from Cuba, comprising 46% of total exports. The second position in the ranking was held by Slovakia ($X), with a 1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Spain stood at -9.0%.

Export Prices by Country

In 2022, the average geometrical quantities electronic measurer export price amounted to $X per unit, falling by -15.3% against the previous year. In general, the export price continues to indicate a perceptible contraction. The pace of growth appeared the most rapid in 2013 when the average export price increased by 343% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per unit), while the average price for exports to Slovakia amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (-15.7%), while the prices for the other major destinations experienced a decline.

Imports of Electronic Instruments And Machines For Measuring Geometrical Quantities

Imports into Cuba

In 2022, the amount of electronic instruments and machines for measuring geometrical quantities imported into Cuba skyrocketed to X units, with an increase of 42% against the previous year. Over the period under review, imports, however, saw a pronounced slump. The growth pace was the most rapid in 2019 when imports increased by 239%. Over the period under review, imports hit record highs at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, geometrical quantities electronic measurer imports skyrocketed to $X in 2022. Overall, imports, however, continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2019 when imports increased by 98%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Spain (X units), Italy (X units) and Canada (X units) were the main suppliers of geometrical quantities electronic measurer imports to Cuba, with a combined 41% share of total imports. China, France, Brazil, Germany, Belgium and Mexico lagged somewhat behind, together comprising a further 13%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +7.4%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Spain ($X) constituted the largest supplier of electronic instruments and machines for measuring geometrical quantities to Cuba, comprising 21% of total imports. The second position in the ranking was held by Canada ($X), with an 11% share of total imports. It was followed by Italy, with a 7.3% share.

From 2012 to 2022, the average annual growth rate of value from Spain amounted to -2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-0.5% per year) and Italy (-3.9% per year).

Import Prices by Country

In 2022, the average geometrical quantities electronic measurer import price amounted to $X per unit, approximately mirroring the previous year. In general, the import price saw a noticeable descent. The pace of growth was the most pronounced in 2021 an increase of 106%. Over the period under review, average import prices reached the peak figure at $X per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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 Germany ($X per unit), while the price for Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+16.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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