Cuba: Bridge Market 2024

Bridge Market Size in Cuba

In 2021, the Cuban bridge market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, the total consumption indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -23.1% against 2018 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Bridge Production in Cuba

In value terms, bridge production rose modestly to $X in 2021 estimated in export price. In general, the total production indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -25.0% against 2018 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 39% against the previous year. Bridge production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Bridge Exports

Exports from Cuba

For the fifth consecutive year, Cuba recorded growth in shipments abroad of bridges, bridge sections, towers and lattice masts (of iron or steel), which increased by 18% to X tons in 2021. In general, exports saw temperate growth. The pace of growth appeared the most rapid in 2015 with an increase of 528% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, bridge exports totaled $X in 2021. Overall, exports, however, showed a perceptible decline. The pace of growth appeared the most rapid in 2015 when exports increased by 139% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Venezuela (X tons) was the main destination for bridge exports from Cuba, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Venezuela amounted to +2.8%.

In value terms, Venezuela ($X) also remains the key foreign market for bridges, bridge sections, towers and lattice masts (of iron or steel) exports from Cuba.

From 2012 to 2021, the average annual rate of growth in terms of value to Venezuela stood at -3.1%.

Export Prices by Country

The average bridge export price stood at $X per ton in 2021, with a decrease of -4.5% against the previous year. Overall, the export price recorded a abrupt contraction. The pace of growth appeared the most rapid in 2016 an increase of 146%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Venezuela.

From 2012 to 2021, the rate of growth in terms of prices for Venezuela amounted to -5.8% per year.

Bridge Imports

Imports into Cuba

In 2021, the amount of bridges, bridge sections, towers and lattice masts (of iron or steel) imported into Cuba surged to X tons, picking up by 230% on 2020 figures. In general, imports showed significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 369% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, bridge imports surged to $X in 2021. Overall, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2013 when imports increased by 259%. Imports peaked in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, Sweden (X tons) constituted the largest bridge supplier to Cuba, with a 26% share of total imports. Moreover, bridge imports from Sweden exceeded the figures recorded by the second-largest supplier, Argentina (X tons), threefold. The third position in this ranking was held by Italy (X tons), with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Sweden stood at +79.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+30.0% per year) and Italy (+14.2% per year).

In value terms, Sweden ($X) constituted the largest supplier of bridges, bridge sections, towers and lattice masts (of iron or steel) to Cuba, comprising 31% of total imports. The second position in the ranking was taken by Italy ($X), with a 7.1% share of total imports. It was followed by Argentina, with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Sweden stood at +83.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+12.8% per year) and Argentina (+24.0% per year).

Import Prices by Country

The average bridge import price stood at $X per ton in 2021, with a decrease of -30.3% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average import price increased by 47%. The import price peaked at $X per ton in 2020, and then reduced notably in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+2.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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