Sunday 4 June 2023

Central America Auto Parts $1.1 Billion Business

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3 June 2023 - At The Banks - Source: BCCR

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In 2018, the region imported parts and vehicle spare parts for a sum close to US$1.1 billion, of which 65% were purchased by companies in Guatemala, Costa Rica and Panama.

Business in Central America Barely Grew. According to estimates by CentralAmericaData, between 2017 and 2018 the value of imported parts and spare parts of vehicles in Central America registered a variation of just 0.13%, going from US$1.099 million to US$1.101 million.

In the last seven years the region has reported a sustained rise in imports, recording an average growth of 6%.

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The main importer in the region remained Guatemala with US$319 million, followed by Panama with $221 million, Costa Rica with US$182 million, Honduras with US$161 million, El Salvador with US$156 million, and Nicaragua with $62 million.

When separating the region between the Northern Triangle and the southern markets, the figures show that companies in Guatemala, El Salvador and Honduras concentrate 58% of regional imports.

Nicaragua, Costa Rica and Panama account for the remaining 42%.

For this report, prepared by CentralAmericaData, SIECA data were used. Click here to explore data in the interactive display.

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