Latin America and the Caribbean: Radio Receiver Market 2023

Radio Receiver Market Size in Latin America and the Caribbean

The Latin American radio receiver market dropped modestly to $X in 2022, reducing by -3.9% against the previous year. Over the period under review, consumption recorded a slight downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Radio Receiver Production in Latin America and the Caribbean

In value terms, radio receiver production declined to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 298%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Radio Receiver Exports

Exports in Latin America and the Caribbean

In 2022, after two years of decline, there was significant growth in shipments abroad of radio receivers, when their volume increased by 8.2% to X units. Overall, exports, however, continue to indicate a slight decrease. The most prominent rate of growth was recorded in 2016 with an increase of 62% against the previous year. As a result, the exports attained the peak of X units. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, radio receiver exports expanded markedly to $X in 2022. The total export value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 24% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Mexico dominates exports structure, reaching X units, which was near 94% of total exports in 2022. Brazil (X units) took a relatively small share of total exports.

Mexico experienced a relatively flat trend pattern with regard to volume of exports of radio receivers. Brazil (-2.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mexico increased by +18 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest radio receiver supplier in Latin America and the Caribbean, comprising 96% of total exports. The second position in the ranking was taken by Brazil ($X), with a 2.6% share of total exports.

In Mexico, radio receiver exports expanded at an average annual rate of +4.0% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, therefore, remained relatively stable against the previous year. Export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, radio receiver export price increased by +45.1% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 53%. Over the period under review, the export prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per unit), while Mexico stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+3.0%).

Radio Receiver Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of radio receivers decreased by -20.7% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, imports saw a pronounced reduction. The pace of growth was the most pronounced in 2017 when imports increased by 31%. The volume of import peaked at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, radio receiver imports rose slightly to $X in 2022. In general, imports saw a noticeable downturn. The growth pace was the most rapid in 2017 with an increase of 17% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Brazil (X units) represented the key importer of radio receivers, mixing up 34% of total imports. Mexico (X units) took the second position in the ranking, followed by Argentina (X units), Colombia (X units), Chile (X units) and Peru (X units). All these countries together held near 53% share of total imports. Bolivia (X units) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to radio receiver imports into Brazil stood at -3.0%. At the same time, Colombia (+6.9%) and Argentina (+4.3%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +6.9% from 2012-2022. Bolivia, Peru and Chile experienced a relatively flat trend pattern. By contrast, Mexico (-7.1%) illustrated a downward trend over the same period. Argentina (+6.4 p.p.), Colombia (+6.1 p.p.), Peru (+2.3 p.p.) and Chile (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while Mexico saw its share reduced by -8.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X), Brazil ($X) and Argentina ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 70% share of total imports.

In terms of the main importing countries, Brazil, with a CAGR of +1.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2022, rising by 30% against the previous year. Overall, the import price, however, showed a slight contraction. The level of import peaked at $X per unit in 2012; however, from 2013 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 Mexico ($X per unit), while Bolivia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+4.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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