Natural latex in primary forms market in Caribbean

Earlier Report Observations

The market for natural latex in primary forms in the Caribbean underwent a significant reduction between 2018 and 2023, with total market volume falling from 597 t to 171 t. This decline was driven by a steep drop in import volumes, which collapsed from over 545 t in 2018 to less than 92 t in 2020.

Domestic production remained stable throughout this period, fluctuating narrowly between 57 t and 58 t annually. The market stabilized after 2020, recording modest growth to 153 t in 2022 and 171 t in 2023 as import levels partially recovered.

Preliminary data for 2024 indicate import volumes of 96 t, continuing the trend of a substantially smaller market compared to the pre-2019 period. Rising demand for natural and modified natural polymers across Latin America has been cited as a factor influencing regional market dynamics.

Production natural latex in primary forms in Caribbean

In kind, 2017-2020, kg

Top producers of natural latex in primary forms, 2017-2020

World map of production of natural latex in primary forms, 2017-2020

Caribbean's production of natural latex in primary forms declined for the second year in a row. In 2020, the region produced 56 820 kg, marking a slight decrease of 1.4% compared to 2019. Over the 2017-2020 period, production grew by 3.3%, with an average annual growth rate of 1.1%. The highest production volume was recorded in 2018 at 57 860 kg, which also saw the largest increase of 5.2%.

Annual dynamics of production in Caribbean in kind, 2017-2020, kg

Exports natural latex in primary forms from Caribbean

Exports in kind, t

The export market for natural latex in primary forms from the Caribbean showed significant fluctuations during this period. Volumes reached their lowest point in 2017 and peaked in 2018, with an 11.9-fold difference between these years. In 2019, exports totaled 1.5 t, representing a sharp decline of 73.7% from 2018. The maximum export volume was recorded in 2018 at 5.6 t, which also experienced the largest increase of 1 091.9%.

Annual dynamics of product's exports from Caribbean in kind, 2017-2020, t

From 2017 to 2020, the United States, Guyana, and Panama were among the top buyers of natural latex in primary forms from the Caribbean, accounting for 36.3%, 7.0%, and 6.6% of exports in kind, respectively. However, their combined share was just 49.9% of total exports, indicating a broadly diversified partner base.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Caribbean in kind, 2017-2020

Exports in value, K $ US

The export value of natural latex in primary forms from the Caribbean exhibited notable volatility. The market swung from a low in 2017 to a high in 2018, with a 12.1-fold difference between these years. In 2019, exports were valued at 4 K $ US, down 67.5% from 2018. The peak value was recorded in 2018 at 13 K $ US, which also saw the largest increase of 1 107.0%.

Annual dynamics of product's exports from Caribbean in value, 2017-2020, K $ US

Between 2017 and 2020, the Caribbean's export partners in value terms were quite diverse. Guyana, Belize, and France accounted for 19.1%, 7.5%, and 4.3% of exports in value, respectively, but together they represented only 30.9% of total flows, highlighting a broad partner portfolio.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Caribbean in value, 2017-2020

Imports natural latex in primary forms to Caribbean

Imports in kind, t

Import volumes of natural latex in primary forms to the Caribbean were volatile during these years. The lowest volume was recorded in 2020, while the highest was in 2018, with a 5.9-fold difference between them. In 2020, imports totaled 91.9 t, down 61.8% from 2019. The maximum import volume was 545.2 t in 2018, which also experienced the largest increase of 114.3%.

Annual dynamics of product's imports to Caribbean in kind, 2017-2020, t

From 2017 to 2020, Guatemala, Thailand, and the United States were the primary sources for natural latex in primary forms imports to the Caribbean, together accounting for 70.0% of total imports in kind.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Caribbean in kind, 2017-2020

Imports in value, K $ US

The import value of natural latex in primary forms to the Caribbean showed considerable volatility. Volumes peaked in 2018 and fell to their lowest in 2020, with a 10.2-fold shift. In 2020, imports amounted to 351 K $ US, a steep contraction of 38.5% from the previous year. The highest value was recorded in 2018 at 3 575 K $ US, which saw the largest increase of 435.1%, while the largest decline of 84.0% occurred in 2019.

Annual dynamics of product's imports to Caribbean in value, 2017-2020, K $ US

During 2017-2020, Guatemala, Thailand, and the United States played significant but not dominant roles as suppliers of natural latex in primary forms to the Caribbean, with shares of 17.4%, 17.4%, and 8.5% of imports in value, respectively. Their combined share reached 43.2% of total imports in value terms.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Caribbean in value, 2017-2020