Latin America and the Caribbean: Timer Market 2024

Timer Market Size in Latin America and the Caribbean

In 2022, the Latin American timer market increased by X% to $X, rising for the second year in a row after two years of decline. In general, consumption, however, continues to indicate a abrupt decrease. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Timer Production in Latin America and the Caribbean

In value terms, timer production reduced to $X in 2022 estimated in export price. Overall, production faced a abrupt descent. The pace of growth appeared the most rapid in 2018 with an increase of X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Timer Exports

Exports in Latin America and the Caribbean

After three years of decline, shipments abroad of timers increased by X% to X units in 2022. In general, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports reached the peak figure at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, timer exports soared to $X in 2022. Over the period under review, exports, however, continue to indicate a noticeable downturn. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The shipments of the two major exporters of timers, namely Brazil and Mexico, represented more than two-thirds of total export.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Mexico (with a CAGR of X%).

In value terms, Mexico ($X) emerged as the largest timer supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Brazil ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Mexico stood at X%.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, with an increase of X% against the previous year. In general, the export price, however, recorded a pronounced downturn. The growth pace was the most rapid in 2020 an increase of X%. Over the period under review, the export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per unit), while Brazil stood at $X per unit.

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

Timer Imports

Imports in Latin America and the Caribbean

In 2022, the amount of timers imported in Latin America and the Caribbean soared to X units, picking up by X% on the year before. 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 volume of import peaked at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, timer imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate a pronounced contraction. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Brazil was the largest importing country with an import of about X units, which amounted to X% of total imports. Mexico (X units) ranks second in terms of the total imports with a X% share, followed by Argentina (X%) and Chile (X%). The following importers - the Dominican Republic (X units) and Ecuador (X units) - each amounted to a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to timer imports into Brazil stood at X%. At the same time, the Dominican Republic (X%) and Argentina (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 2012-2022. Mexico experienced a relatively flat trend pattern. By contrast, Chile (X%) and Ecuador (X%) illustrated a downward trend over the same period. Brazil (X p.p.) significantly strengthened its position in terms of the total imports, while Argentina, Ecuador, Chile and Mexico saw its share reduced by X%, X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Argentina ($X), Mexico ($X) and Brazil ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. The Dominican Republic, Chile and Ecuador lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, the Dominican Republic, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, 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 unit, picking up by X% against the previous year. Over the period under review, the import price, however, recorded a abrupt descent. The pace of growth appeared the most rapid in 2020 when the import price increased by X% against the previous year. 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 the Dominican Republic ($X per unit), while Brazil ($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 import price figures.

Source: IndexBox Platform