Mexico: Relay Market 2024

Relay Market Size in Mexico

In 2022, the Mexican relay market increased by X% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Relay consumption peaked in 2022 and is likely to continue growth in the near future.

Relay Exports

Exports from Mexico

Relay exports from Mexico skyrocketed to X units in 2022, growing by X% compared with 2021 figures. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, relay exports surged to $X in 2022. In general, total exports indicated a modest increase from 2012 to 2022: its value 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, exports increased by X% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for relay exports from Mexico, accounting for a X% share of total exports. Moreover, relay 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 Nicaragua (X% per year).

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

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

Export Prices by Country

In 2022, the average relay export price amounted to $X per unit, picking up by X% against the previous year. In general, the export price recorded a measured expansion. The pace of growth was the most pronounced in 2015 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

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 the United States ($X per unit), while the average price for exports to Brazil ($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 more modest paces of growth.

Relay Imports

Imports into Mexico

In 2022, supplies from abroad of relays increased by X% to X units, rising for the third consecutive year after two years of decline. Over the period under review, imports enjoyed strong growth. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, relay imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of relay to Mexico, accounting for a X% share of total imports. Moreover, relay imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), fourfold. South Korea (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 amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and South Korea (X% per year).

In value terms, China ($X) constituted the largest supplier of relays to Mexico, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with an X% share of total imports. It was followed by Japan, with an X% share.

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

Import Prices by Country

In 2022, the average relay import price amounted to $X per unit, remaining relatively unchanged against the previous year. Over the period under review, the import price, however, saw a noticeable curtailment. The most prominent rate of growth was recorded in 2014 an increase of X%. Over the period under review, average import prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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