Mexico: Radio Receiver Market 2024

Radio Receiver Market Size in Mexico

The Mexican radio receiver market shrank sharply to $X in 2022, dropping by X% against the previous year. Over the period under review, consumption, however, showed a modest increase. Radio receiver consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Radio Receiver Production in Mexico

In value terms, radio receiver production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, posted buoyant growth. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Radio Receiver Exports

Exports from Mexico

In 2022, after two years of decline, there was significant growth in shipments abroad of radio receivers, when their volume increased by X% to X units. In general, exports continue to indicate modest growth. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, radio receiver exports rose remarkably to $X in 2022. The total export 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 growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for radio receiver exports from Mexico, accounting for a X% share of total exports. Moreover, radio receiver exports to the United States exceeded the volume sent to the second major destination, Brazil (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (X% per year) and Japan (X% per year).

In value terms, the United States ($X) remains the key foreign market for radio receivers exports from Mexico, comprising X% of total exports. The second position in the ranking was taken by Japan ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and Brazil (X% per year).

Export Prices by Country

The average radio receiver export price stood at $X per unit in 2022, therefore, remained relatively stable against the previous year. Overall, export price indicated temperate 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. Based on 2022 figures, radio receiver export price increased by X% against 2020 indices. The growth pace was the most rapid in 2017 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (X%), while the prices for the other major destinations experienced mixed trend patterns.

Radio Receiver Imports

Imports into Mexico

In 2022, imports of radio receivers into Mexico declined to X units, with a decrease of X% against 2021. Over the period under review, imports saw a abrupt contraction. The most prominent rate of growth was recorded in 2017 with an increase of X%. Imports peaked at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, radio receiver imports soared to $X in 2022. In general, imports saw a noticeable decline. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of radio receiver to Mexico, with a X% share of total imports. Moreover, radio receiver imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), sixfold. Hungary (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Hungary (X% per year).

In value terms, the United States ($X), China ($X) and Hungary ($X) appeared to be the largest radio receiver suppliers to Mexico, together comprising X% of total imports.

In terms of the main suppliers, Hungary, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average radio receiver import price stood at $X per unit in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hungary ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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