Tires: Purchases Down 13% in 2020
Monday, June 21, 2021
During last year, Central American companies bought new tires abroad for $402 million, a figure that is 13% lower than what was reported in 2019.
Figures from the Trade Intelligence Unit of CentralAmericaData:

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Guatemalan Companies, Main Buyers
In 2020, the main importer of new pneumatic tires in Central America was Guatemala, with $134 million, followed by Costa Rica, with $80 million, Panama, with $53 million, Honduras, with $51 million, Nicaragua, with $43 million, and El Salvador, with $41 million.

Costa Rica was the only country that recorded an increase in its purchases for the period in question, reporting a 1% increase when compared to imports in 2019.

Nicaragua and Guatemala reported drops in their imports of 1% and 4%, respectively. In the cases of El Salvador, Honduras and Panama, the decreases were 16%, 18% and 32%, in that order.

Regional Business Downwards
Between 2019 and 2020, the value imported in Central America had a negative variation, going from $464 million to $402 million.

For the periods in question, imports from China also decreased, in this case by 3%, going from $243 million to $235 million.

Main Suppliers
In 2020, 58% of the value imported into the region came from China, 4% from Japan, 4% from the U.S., 4% from Thailand, 4% from India, 3% from Brazil, 2% from Mexico and 2% from Taiwan.

China is the import source market that has grown the most in recent years, since in 2012 it accounted for 32% of the region's total imports and in 2020 that proportion rose to 58%.

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