Natural latex in primary forms market in Central America

Earlier Report Observations

The market for natural latex in primary forms in Central America experienced notable fluctuations between 2018 and 2023. In physical terms, market volume started at 155.5 thousand tons in 2018, dipped to 142.4 thousand tons the following year, and then recovered to 155.0 thousand tons in 2020. This was followed by a significant expansion to 175.1 thousand tons in 2021, a slight contraction to 173.0 thousand tons in 2022, and a final rise to 177.0 thousand tons in 2023.

The market's value trajectory showed even more pronounced swings. Starting at 223.3 million US dollars in 2018, it dipped slightly before climbing steadily to a peak of 340.4 million US dollars in 2022. This peak represented a substantial increase over the period, driven by higher unit values or shifts in product mix. However, the market value fell sharply in 2023 to 269.8 million US dollars, indicating a major correction in prices or demand structure.

Overall, the period was marked by volatility, with the physical market volume ending higher by 2023, while the monetary value showed a strong cycle of growth and contraction, highlighting the influence of factors beyond simple consumption volume.

Production natural latex in primary forms in Central America

In kind, 2017-2020, K t

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

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

Natural latex production in primary forms in Central America has increased for the third consecutive year. In 2020, Central America produced 201.4 thousand tons of natural latex in primary forms, marking a robust 11.8% increase compared to the previous year. Between 2017 and 2020, production grew by 19.2%, which translates to an annualized growth rate of 6.0%.

Annual dynamics of production in Central America in kind, 2017-2020, K t

In value, 2017-2020, M $ US

After a two-year decline, Central America's natural latex production in primary forms saw an increase in value. In 2020, the output was valued at 267.0 million US dollars, representing a 12.7% rise from 2019. Over the period from 2017 to 2020, production value decreased by 2.7%, with a compound annual growth rate of 0.9%. The lowest value was recorded in 2019 at 236.9 million US dollars, while the largest decline occurred in 2018 with a 9.6% drop.

Annual dynamics of production in Central America in value, 2017-2020, M $ US

Exports natural latex in primary forms from Central America

Exports in kind, t

Central America's exports of natural latex in primary forms have increased for the second consecutive year. In 2020, the region exported 50 366 tons, which is 16.8% higher than in 2019. Between 2017 and 2020, exports grew by 20%, equating to an annualized rate of 6.3%. The lowest export volume was recorded in 2018 at 40 348 tons, with the largest decline that year at 3.9%.

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

From 2017 to 2020, Central America's natural latex exports in kind were distributed across a wide range of buyers. Colombia accounted for 16.0% of exports, the United States for 13.7%, and Brazil for 10.9%, together making up only 40.6% of total exports. Many other countries held smaller but significant shares, contributing to a diversified export portfolio.

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

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

Exports in value, K $ US

Central America's natural latex exports in value terms have risen for the second year in a row. In 2020, exports amounted to 66 764 thousand US dollars, up by 17.8% year-on-year. Over the period from 2017 to 2020, exports decreased by 2.1%, with a compound annual growth rate of 0.7%. The lowest value was recorded in 2018 at 56 138 thousand US dollars, with the largest decline that year at 17.6%.

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

Between 2017 and 2020, the geographical structure of Central America's natural latex exports in value was highly diversified. Colombia contributed 17.5% of exports, the United States 13.4%, and Brazil 11.3%, together accounting for only 42.2% of total flows. The remaining 57.8% was spread among numerous smaller partner countries, highlighting a broad distribution.

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

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

Imports natural latex in primary forms to Central America

Imports in kind, t

Imports of natural latex in primary forms into Central America have declined for the second consecutive year. In 2020, imports totaled 3 996 tons, down by 25.6% compared to the previous year. Between 2017 and 2020, imports decreased by 76.6%, equating to an annualized decline of 38.3%. The highest import volume was recorded in 2018 at 17 493 tons, with the largest decline in 2019 at 69.3% and the largest increase in 2018 at 2.6%.

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

From 2017 to 2020, there was no single dominant supplier for natural latex imports into Central America in kind. Thailand accounted for 9.0% of imports, Vietnam for 2.9%, and the United States for 2.2%, together making up only 14.2% of total imports. Many smaller partners each held modest individual shares, contributing to a fragmented import market.

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

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

Imports in value, K $ US

In 2020, Central America's imports of natural latex in primary forms from abroad amounted to 28 253 thousand US dollars, representing a decrease of 12.5% compared to 2019. Between 2017 and 2020, imports decreased by 19.6%, equating to an annualized decline of 7.0%. The largest increase was recorded in 2019 at 3.2%.

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

Between 2017 and 2020, Thailand, Vietnam, and the United States played notable but not dominant roles as suppliers of natural latex to Central America in value terms. Thailand accounted for 9.2% of imports, Vietnam for 2.9%, and the United States for 2.2%, with their combined share reaching only 14.3% of total imports. The rest was distributed among various smaller partners.

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

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