Latin America and the Caribbean: Mobile Phone Market 2024

Mobile Phone Market Size in Latin America and the Caribbean

The Latin American mobile phone market dropped dramatically to $X in 2022, with a decrease of X% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2021, and then reduced sharply in the following year.

Mobile Phone Production in Latin America and the Caribbean

In value terms, mobile phone production rose slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Mobile Phone Exports

Exports in Latin America and the Caribbean

In 2022, the amount of mobile phones exported in Latin America and the Caribbean reduced sharply to X units, with a decrease of X% compared with the year before. In general, exports saw a dramatic shrinkage. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, mobile phone exports declined remarkably to $X in 2022. Overall, exports faced a precipitous slump. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Chile dominates exports structure, accounting for X units, which was approx. X% of total exports in 2022. It was distantly followed by Peru (X units), Brazil (X units), the Dominican Republic (X units), Mexico (X units) and Colombia (X units), together achieving a X% share of total exports. Panama (X units) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to mobile phone exports from Chile stood at X%. At the same time, Colombia (X%) and Peru (X%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, the Dominican Republic (X%), Panama (X%), Brazil (X%) and Mexico (X%) illustrated a downward trend over the same period. Chile (X p.p.), Peru (X p.p.), the Dominican Republic (X p.p.), Colombia (X p.p.) and Panama (X p.p.) significantly strengthened its position in terms of the total exports, while Mexico saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) emerged as the largest mobile phone supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by the Dominican Republic ($X), with an X% share of total exports. It was followed by Brazil, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Chile amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: the Dominican Republic (X% per year) and Brazil (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, jumping by X% against the previous year. Export price indicated pronounced growth from 2012 to 2022: its price 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. The growth pace was the most rapid in 2015 an increase of X%. Over the period under review, the export prices reached the maximum at $X per unit in 2019; however, from 2020 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 the Dominican Republic ($X per unit), while Peru ($X per unit) was amongst the lowest.

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

Mobile Phone Imports

Imports in Latin America and the Caribbean

Mobile phone imports contracted remarkably to X units in 2022, waning by X% against 2021 figures. Over the period under review, imports continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. 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, mobile phone imports dropped remarkably to $X in 2022. In general, imports recorded a pronounced downturn. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Colombia (X units) represented the main importer of mobile phones, generating X% of total imports. It was distantly followed by Peru (X units), Brazil (X units), Chile (X units), the Dominican Republic (X units) and Paraguay (X units), together achieving a X% share of total imports. Ecuador (X units), Uruguay (X units), Honduras (X units), Costa Rica (X units), Venezuela (X units) and El Salvador (X units) took a relatively small share of total imports.

Imports into Colombia increased at an average annual rate of X% from 2012 to 2022. At the same time, the Dominican Republic (X%), Ecuador (X%), Honduras (X%), El Salvador (X%) and Paraguay (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. Costa Rica experienced a relatively flat trend pattern. By contrast, Peru (X%), Uruguay (X%), Brazil (X%), Chile (X%) and Venezuela (X%) illustrated a downward trend over the same period. Colombia (X p.p.), Peru (X p.p.), the Dominican Republic (X p.p.), Brazil (X p.p.), Paraguay (X p.p.), Ecuador (X p.p.) and Honduras (X p.p.) significantly strengthened its position in terms of the total imports, while Venezuela saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Colombia ($X), Chile ($X) and Peru ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Paraguay, Brazil, the Dominican Republic, Ecuador, Costa Rica, El Salvador, Uruguay, Venezuela and Honduras lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, the Dominican Republic, with a CAGR of X%, saw the highest growth rate of 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, surging by X% against the previous year. Import price indicated a buoyant expansion from 2012 to 2022: its price 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. The pace of growth was the most pronounced in 2018 an increase of X%. The level of import peaked in 2022 and is likely to continue growth in the near future.

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 Costa Rica ($X per unit), while Brazil ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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