Latin America and the Caribbean: Knitting Machines Market 2024

Knitting Machines Market Size in Latin America and the Caribbean

After two years of growth, the Latin American knitting machines market decreased by X% to $X in 2023. The total consumption indicated a tangible increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2022, and then declined markedly in the following year.

Knitting Machines Production in Latin America and the Caribbean

In value terms, knitting machines production reached $X in 2023 estimated in export price. Overall, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the production volume increased by X%. The level of production peaked at $X in 2015; however, from 2016 to 2023, production failed to regain momentum.

Knitting Machines Exports

Exports in Latin America and the Caribbean

In 2023, the amount of knitting machineses exported in Latin America and the Caribbean was estimated at X units, increasing by X% on the year before. In general, exports, however, recorded a abrupt slump. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, knitting machines exports dropped notably to $X in 2023. Overall, exports, however, faced a deep slump. The pace of growth appeared the most rapid in 2015 with an increase of X%. As a result, the exports attained the peak of $X. From 2016 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2023, Mexico (X units) and Peru (X units) represented the major exporters of knitting machineses in Latin America and the Caribbean, together reaching near X% of total exports. It was distantly followed by the Dominican Republic (X units), Argentina (X units), Honduras (X units), Bolivia (X units), Trinidad and Tobago (X units) and Brazil (X units), together making up a X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for Trinidad and Tobago (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest knitting machines supplying countries in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Honduras ($X), with a combined X% share of total exports. Peru, Argentina, the Dominican Republic, Trinidad and Tobago and Bolivia lagged somewhat behind, together accounting for a further X%.

Trinidad and Tobago, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2023, reducing by X% against the previous year. Over the period under review, the export price, however, enjoyed a prominent expansion. The growth pace was the most rapid in 2015 when the export price increased by X%. Over the period under review, the export prices attained the maximum at $X per unit in 2019; however, from 2020 to 2023, 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 Brazil ($X per unit), while Bolivia ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced more modest paces of growth.

Knitting Machines Imports

Imports in Latin America and the Caribbean

In 2023, knitting machines imports in Latin America and the Caribbean reduced to X units, dropping by X% on the year before. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X units. From 2022 to 2023, the growth of imports failed to regain momentum.

In value terms, knitting machines imports reduced markedly to $X in 2023. In general, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X%. The level of import peaked at $X in 2022, and then dropped remarkably in the following year.

Imports by Country

In 2023, Peru (X units) represented the key importer of knitting machineses, creating X% of total imports. It was distantly followed by Chile (X units), Brazil (X units), Colombia (X units) and Argentina (X units), together comprising a X% share of total imports. The following importers - the Dominican Republic (X units) and Mexico (X units) - together made up X% of total imports.

Peru experienced a relatively flat trend pattern with regard to volume of imports of knitting machineses. At the same time, the Dominican Republic (X%), Argentina (X%), Colombia (X%) and Chile (X%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. Brazil experienced a relatively flat trend pattern. By contrast, Mexico (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of the Dominican Republic, Chile, Argentina and Colombia increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X), Mexico ($X) and Argentina ($X) appeared to be the countries with the highest levels of imports in 2023, together accounting for X% of total imports. Peru, Colombia, Chile and the Dominican Republic lagged somewhat behind, together comprising a further X%.

The Dominican Republic, 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

In 2023, the import price in Latin America and the Caribbean amounted to $X per unit, shrinking by X% against the previous year. In general, the import price showed a mild reduction. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. The level of import peaked at $X per unit in 2015; however, from 2016 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Mexico ($X per unit), while Chile ($X per unit) was amongst the lowest.

From 2012 to 2023, 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