Peru: Working Wire Machine Market 2022

Working Wire Machine Market Size in Peru

After two years of growth, the Peruvian working wire machine market decreased by -1% to $X in 2021. Over the period under review, consumption, however, continues to indicate temperate growth. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Working Wire Machine Exports

Exports from Peru

In 2021, approx. X units of machines for working wire were exported from Peru; falling by -66.7% compared with the previous year. In general, exports showed a significant decline. The pace of growth was the most pronounced in 2020 when exports increased by 200% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, working wire machine exports contracted markedly to $X in 2021. Overall, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2017 when exports increased by 110,456% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Venezuela (X units) was the main destination for working wire machine exports from Peru, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Venezuela was relatively modest.

In value terms, Bolivia ($X) remains the key foreign market for working wire machine exports from Peru, comprising 69% of total exports. The second position in the ranking was taken by Ecuador ($X), with a 29% share of total exports. It was followed by Venezuela, with a 0.8% share.

From 2012 to 2021, the average annual growth rate of value to Bolivia stood at +29.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+3.6% per year) and Venezuela (-80.0% per year).

Export Prices by Country

In 2021, the average working wire machine export price amounted to $X per unit, rising by 84% against the previous year. Over the period under review, the export price posted significant growth. The pace of growth appeared the most rapid in 2018 an increase of 93%. The export price peaked in 2021 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Bolivia ($X per unit), while the average price for exports to Venezuela ($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 Bolivia (+124.0%), while the prices for the other major destinations experienced more modest paces of growth.

Working Wire Machine Imports

Imports into Peru

After two years of growth, overseas purchases of machines for working wire decreased by -24.1% to X units in 2021. Over the period under review, imports, however, showed a perceptible increase. The growth pace was the most rapid in 2017 when imports increased by 174%. Imports peaked at X units in 2020, and then fell rapidly in the following year.

In value terms, working wire machine imports soared to $X in 2021. Overall, imports showed a slight shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 124%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of working wire machine to Peru, with a 57% share of total imports. Moreover, working wire machine imports from China exceeded the figures recorded by the second-largest supplier, New Zealand (X units), fourfold. The third position in this ranking was taken by India (X units), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (+30.1% per year) and India (+33.5% per year).

In value terms, the largest working wire machine suppliers to Peru were Belgium ($X), China ($X) and Italy ($X), with a combined 66% share of total imports.

Among the main suppliers, Belgium, with a CAGR of +28.6%, recorded 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 2021, the average working wire machine import price amounted to $X per unit, picking up by 122% against the previous year. In general, the import price, however, continues to indicate a deep setback. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Belgium ($X per unit), while the price for the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+31.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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