Latin America and the Caribbean: Hay-Making Machinery Market 2024

Hay-Making Machinery Market Size in Latin America and the Caribbean

The Latin American hay-making machinery market dropped slightly to $X in 2022, leveling off at the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Hay-Making Machinery Production in Latin America and the Caribbean

In value terms, hay-making machinery production reached $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Hay-Making Machinery Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of hay-making machinery increased by X% to X units, rising for the second year in a row after two years of decline. Overall, exports, however, showed a abrupt contraction. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, hay-making machinery exports soared to $X in 2022. In general, exports, however, saw a abrupt downturn. The pace of growth was the most pronounced in 2018 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Mexico was the main exporting country with an export of about X units, which resulted at X% of total exports. Brazil (X units) took the second position in the ranking, distantly followed by Colombia (X units) and Argentina (X units). All these countries together held near X% share of total exports. Costa Rica (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to hay-making machinery exports from Mexico stood at X%. At the same time, Brazil (X%) and Colombia (X%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Costa Rica experienced a relatively flat trend pattern. By contrast, Argentina (X%) illustrated a downward trend over the same period. While the share of Brazil (X p.p.), Colombia (X p.p.) and Costa Rica (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Mexico (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest hay-making machinery supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Brazil ($X), with a X% share of total exports. It was followed by Argentina, with a X% share.

In Mexico, hay-making machinery exports decreased by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Brazil (X% per year) and Argentina (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, rising by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. The level of export peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Costa Rica ($X per unit), while Colombia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (X%), while the other leaders experienced a decline in the export price figures.

Hay-Making Machinery Imports

Imports in Latin America and the Caribbean

In 2022, overseas purchases of hay-making machinery increased by X% to X units, rising for the second consecutive year after two years of decline. Total imports indicated a notable 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 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, hay-making machinery imports surged to $X in 2022. Total imports indicated temperate growth from 2012 to 2022: its value 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 growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, Chile (X units), distantly followed by Brazil (X units), Colombia (X units), Paraguay (X units) and Uruguay (X units) were the key importers of hay-making machinery, together generating X% of total imports. The following importers - Mexico (X units), Argentina (X units), Ecuador (X units) and Honduras (X units) - together made up X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Colombia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hay-making machinery importing markets in Latin America and the Caribbean were Chile ($X), Brazil ($X) and Paraguay ($X), together comprising X% of total imports. Uruguay, Colombia, Mexico, Argentina, Ecuador and Honduras lagged somewhat behind, together comprising a further X%.

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

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2022, remaining constant against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X%. The level of import peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($X per unit), while Honduras ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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