Peru: Market for Machine Tools For Working Metal Without Removing Metal 2023

Market Size for Machine Tools For Working Metal Without Removing Metal in Peru

In 2021, the Peruvian machine tool for metal market increased by 295% to $X, rising for the second year in a row after three years of decline. Over the period under review, consumption saw a prominent expansion. Machine tool for metal consumption peaked at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Exports of Machine Tools For Working Metal Without Removing Metal

Exports from Peru

In 2021, overseas shipments of machine tools for working metal without removing metal decreased by -37.1% to X units for the first time since 2018, thus ending a two-year rising trend. In general, exports, however, recorded a slight expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 439% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, machine tool for metal exports declined remarkably to $X in 2021. Overall, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2014 with an increase of 227% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Bolivia (X units) was the main destination for machine tool for metal exports from Peru, with a 77% share of total exports. Moreover, machine tool for metal exports to Bolivia exceeded the volume sent to the second major destination, the United States (X units), more than tenfold. Chile (X units) ranked third in terms of total exports with a 6.6% share.

From 2012 to 2021, the average annual growth rate of volume to Bolivia stood at +2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+26.0% per year) and Chile (+8.0% per year).

In value terms, Bolivia ($X) emerged as the key foreign market for machine tools for working metal without removing metal exports from Peru, comprising 65% of total exports. The second position in the ranking was held by Venezuela ($X), with a 16% share of total exports. It was followed by the United States, with a 10% share.

From 2012 to 2021, the average annual growth rate of value to Bolivia amounted to -15.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (+157.7% per year) and the United States (-23.3% per year).

Export Prices by Country

In 2021, the average machine tool for metal export price amounted to $X per unit, falling by -41.6% against the previous year. Over the period under review, the export price recorded a abrupt contraction. The most prominent rate of growth was recorded in 2014 when the average export price increased by 437% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Venezuela ($X per unit), while the average price for exports to Panama ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+3.7%), while the prices for the other major destinations experienced a decline.

Imports of Machine Tools For Working Metal Without Removing Metal

Imports into Peru

In 2021, supplies from abroad of machine tools for working metal without removing metal increased by 310% to X units, rising for the second consecutive year after three years of decline. Over the period under review, imports enjoyed a resilient increase. Over the period under review, imports reached the maximum at X units in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, machine tool for metal imports surged to $X in 2021. In general, imports, however, saw a pronounced downturn. The pace of growth was the most pronounced in 2015 with an increase of 198%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Switzerland (X units) constituted the largest machine tool for metal supplier to Peru, accounting for a 56% share of total imports. Moreover, machine tool for metal imports from Switzerland exceeded the figures recorded by the second-largest supplier, Austria (X units), threefold. The third position in this ranking was held by China (X units), with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Switzerland amounted to +20.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+1,356.7% per year) and China (+12.5% per year).

In value terms, the largest machine tool for metal suppliers to Peru were Switzerland ($X), China ($X) and the United States ($X), together comprising 90% of total imports.

Switzerland, with a CAGR of +22.1%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average machine tool for metal import price amounted to $X per unit, with a decrease of -45.7% against the previous year. Overall, the import price recorded a drastic downturn. The most prominent rate of growth was recorded in 2017 when the average import price increased by 370% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Italy ($X per unit), while the price for Austria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+1,039.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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