Guatemala: Seat Market 2024

Seat Market Size in Guatemala

The Guatemalan seat market was estimated at $X in 2023, stabilizing at the previous year. Over the period under review, consumption, however, continues to indicate a buoyant expansion. Over the period under review, the market reached the maximum level at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Seat Production in Guatemala

In value terms, seat production expanded remarkably to $X in 2023 estimated in export price. Over the period under review, production showed a buoyant expansion. The pace of growth was the most pronounced in 2017 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Seat Exports

Exports from Guatemala

For the third consecutive year, Guatemala recorded growth in shipments abroad of seats, which increased by X% to X units in 2023. Overall, exports recorded a moderate increase. The exports peaked at X units in 2016; however, from 2017 to 2023, the exports remained at a lower figure.

In value terms, seat exports rose rapidly to $X in 2023. Over the period under review, exports saw a buoyant expansion. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The exports peaked in 2023 and are expected to retain growth in the near future.

Exports by Country

Nicaragua (X units), Honduras (X units) and El Salvador (X units) were the main destinations of seat exports from Guatemala, with a combined X% share of total exports. Costa Rica, Panama, Mexico, the Dominican Republic and the United States lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for seat exported from Guatemala were Honduras ($X), Nicaragua ($X) and El Salvador ($X), together comprising X% of total exports. Costa Rica, Panama, the United States, Mexico and the Dominican Republic lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Mexico, with a CAGR of X%, recorded the highest growth rate of 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 2023, the average seat export price amounted to $X per unit, reducing by X% against the previous year. Overall, the export price, however, enjoyed a slight expansion. The growth pace was the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2021; however, from 2022 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Panama ($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 United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Seat Imports

Imports into Guatemala

In 2023, approx. X units of seats were imported into Guatemala; picking up by X% compared with the previous year. In general, total imports indicated a tangible increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports reached the peak of X units. From 2022 to 2023, the growth of imports remained at a lower figure.

In value terms, seat imports expanded to $X in 2023. Over the period under review, total imports indicated a moderate expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

China (X units), the United States (X units) and Honduras (X units) were the main suppliers of seat imports to Guatemala, with a combined X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Honduras (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

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

From 2012 to 2023, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Vietnam (X% per year).

Import Prices by Country

In 2023, the average seat import price amounted to $X per unit, with a decrease of X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by X%. Over the period under review, average import prices reached the maximum at $X per unit in 2017; however, from 2018 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Vietnam ($X per unit), while the price for Costa Rica ($X per unit) was amongst the lowest.

From 2012 to 2023, 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