Guatemala: Measuring Instrument Market 2024

Measuring Instrument Market Size in Guatemala

The Guatemalan measuring instrument market rose sharply to $X in 2022, surging by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. Measuring instrument consumption peaked in 2022 and is likely to see gradual growth in the near future.

Measuring Instrument Exports

Exports from Guatemala

In 2022, exports of instruments and apparatus for measuring or checking the flow or level of liquids from Guatemala surged to X units, jumping by X% compared with the previous year. Overall, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by X%. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, measuring instrument exports expanded significantly to $X in 2022. Over the period under review, exports recorded a remarkable increase. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

El Salvador (X units) was the main destination for measuring instrument exports from Guatemala, accounting for a X% share of total exports. Moreover, measuring instrument exports to El Salvador exceeded the volume sent to the second major destination, Honduras (X units), fourfold. The third position in this ranking was held by Nicaragua (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to El Salvador totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (X% per year) and Nicaragua (X% per year).

In value terms, El Salvador ($X) emerged as the key foreign market for instruments and apparatus for measuring or checking the flow or level of liquids exports from Guatemala, comprising X% of total exports. The second position in the ranking was taken by Nicaragua ($X), with a X% share of total exports. It was followed by Honduras, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to El Salvador stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (X% per year) and Honduras (X% per year).

Export Prices by Country

The average measuring instrument export price stood at $X per unit in 2022, falling by X% against the previous year. In general, the export price showed a deep contraction. The pace of growth appeared the most rapid in 2018 when the average export price increased by X%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per unit), while the average price for exports to Colombia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Measuring Instrument Imports

Imports into Guatemala

In 2022, approx. X units of instruments and apparatus for measuring or checking the flow or level of liquids were imported into Guatemala; growing by X% on 2021. Over the period under review, total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, measuring instrument imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of measuring instrument to Guatemala, accounting for a X% share of total imports. Moreover, measuring instrument imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. The third position in this ranking was held by Mexico (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Mexico (X% per year).

In value terms, the largest measuring instrument suppliers to Guatemala were the United States ($X), China ($X) and Israel ($X), together accounting for X% of total imports. Mexico and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

Mexico, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average measuring instrument import price amounted to $X per unit, growing by X% against the previous year. Overall, the import price, however, continues to indicate a pronounced shrinkage. The growth pace was the most rapid in 2016 when the average import price increased by X%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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