Latin America and the Caribbean: Interchangeable Spanner Socket Market 2024

Interchangeable Spanner Socket Market Size in Latin America and the Caribbean

In 2022, the Latin American interchangeable spanner socket market increased by X% to $X, rising for the second year in a row after two years of decline. The total consumption indicated a strong expansion 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, consumption increased by X% against 2020 indices. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Interchangeable Spanner Socket Production in Latin America and the Caribbean

In value terms, interchangeable spanner socket production dropped to $X in 2022 estimated in export price. The total production indicated a perceptible increase 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, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Interchangeable Spanner Socket Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of interchangeable spanner sockets increased by X% to X tons, rising for the second year in a row after eight years of decline. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, interchangeable spanner socket exports rose significantly to $X in 2022. Total exports indicated notable 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, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

Mexico was the key exporting country with an export of about X tons, which amounted to X% of total exports. It was distantly followed by Brazil (X tons) and the Dominican Republic (X tons), together mixing up a X% share of total exports. The following exporters - Chile (X tons) and Guatemala (X tons) - each finished at a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to interchangeable spanner socket exports from Mexico stood at X%. At the same time, the Dominican Republic (X%), Guatemala (X%) and Chile (X%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Brazil (X%) illustrated a downward trend over the same period. Mexico (X p.p.), the Dominican Republic (X p.p.), Guatemala (X p.p.) and Chile (X p.p.) significantly strengthened its position in terms of the total exports, while Brazil saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Mexico ($X) remains the largest interchangeable spanner socket supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Brazil ($X), with a X% share of total exports. It was followed by Chile, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Mexico totaled X%. In the other countries, the average annual rates were as follows: Brazil (X% per year) and Chile (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, declining by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2015 when the export price increased by X%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

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

Interchangeable Spanner Socket Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of interchangeable spanner sockets increased by X% to X tons, rising for the second consecutive year after two years of decline. Total imports indicated a strong 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 most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, interchangeable spanner socket imports stood at $X in 2022. Total imports indicated perceptible 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 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by X%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Mexico (X tons) and Brazil (X tons) represented roughly X% of total imports in 2022. Argentina (X tons) ranks next in terms of the total imports with a X% share, followed by Chile (X%), Colombia (X%) and Peru (X%). Bolivia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Mexico (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest interchangeable spanner socket importing markets in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and Chile ($X), together accounting for X% of total imports.

Mexico, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among 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

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, growing by X% against the previous year. In general, the import price, however, showed a mild slump. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Peru ($X per ton), while Bolivia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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