Puerto Rico: Radio Receiver Market 2023

Radio Receiver Market Size in Puerto Rico

The Puerto Rican radio receiver market contracted to $X in 2021, shrinking by -5.7% against the previous year. Overall, consumption showed a noticeable setback. Puerto Rico consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Radio Receiver Production in Puerto Rico

In value terms, radio receiver production dropped to $X in 2021 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 34% against the previous year. Puerto Rico production peaked at $X in 2020, and then declined in the following year.

Radio Receiver Exports

Exports by Country

China prevails in exports structure, reaching X units, which was approx. 71% of total exports in 2021. The following exporters - Thailand (X units), the Netherlands (X units), Germany (X units), Mexico (X units), Malaysia (X units), Hong Kong SAR (X units), Portugal (X units), Belgium (X units), Israel (X units) and Panama (X units) - together made up 18% of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of radio receivers. At the same time, the Netherlands (+16.6%) and Germany (+8.5%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +16.6% from 2012-2021. Mexico experienced a relatively flat trend pattern. By contrast, Belgium (-4.3%), Malaysia (-10.1%), Hong Kong SAR (-21.2%), Portugal (-22.7%), Thailand (-24.6%), Israel (-34.7%) and Panama (-42.0%) illustrated a downward trend over the same period. While the share of China (+23 p.p.), the Netherlands (+3.2 p.p.), Germany (+2.5 p.p.), Portugal (+1.5 p.p.) and Belgium (+1.5 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of Panama (-2.1 p.p.), Israel (-2.9 p.p.), Hong Kong SAR (-7 p.p.) and Thailand (-22.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest radio receiver supplier from Puerto Rico, comprising 36% of global exports. The second position in the ranking was taken by Mexico ($X), with a 13% share of global exports. It was followed by Portugal, with a 6.1% share.

From 2012 to 2021, the average annual growth rate of value in China amounted to -1.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Mexico (+3.5% per year) and Portugal (+7.9% per year).

Radio Receiver Imports

Imports by Country

In 2021, the United States (X units), distantly followed by Germany (X units) and Burkina Faso (X units) represented the main importers of radio receivers, together comprising 32% of total imports. The Netherlands (X units), Mexico (X units), France (X units), Hong Kong SAR (X units), Belgium (X units), Brazil (X units), Poland (X units), Japan (X units), the Philippines (X units) and Russia (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to radio receiver imports into the United States stood at -5.1%. At the same time, Burkina Faso (+50.2%), the Philippines (+35.8%) and France (+7.5%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in the world, with a CAGR of +50.2% from 2012-2021. Brazil, the Netherlands and Mexico experienced a relatively flat trend pattern. By contrast, Russia (-4.0%), Poland (-10.8%), Japan (-12.0%), Germany (-14.6%), Hong Kong SAR (-22.4%) and Belgium (-47.1%) illustrated a downward trend over the same period. Germany (+7.5 p.p.), Burkina Faso (+6.6 p.p.), the Netherlands (+3.8 p.p.), France (+3.2 p.p.), Belgium (+2.9 p.p.), Poland (+2.6 p.p.) and the Philippines (+2.3 p.p.) significantly strengthened its position in terms of the global imports, while Japan and Hong Kong SAR saw its share reduced by -2.6% and -15.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported radio receivers into Puerto Rico, comprising 34% of global imports. The second position in the ranking was taken by Germany ($X), with a 6% share of global imports. It was followed by Japan, with a 4.7% share.

In the United States, radio receiver imports contracted by an average annual rate of -5.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Germany (-10.5% per year) and Japan (-9.2% per year).

Source: IndexBox Market Intelligence Platform

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