Uruguay: Spades And Shovels Market 2022

Spades And Shovels Market Size in Uruguay

For the third year in a row, the Uruguayan spades and shovels market recorded decline in sales value, which decreased by -X% to $X in 2021. In general, consumption faced a abrupt curtailment. Spades and shovels consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Spades And Shovels Exports

Exports from Uruguay

In 2021, exports of spades and shovels from Uruguay shrank significantly to X kg, reducing by -X% on the previous year's figure. Overall, exports, however, continue to indicate a strong expansion. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, the exports hit record highs at X kg in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, spades and shovels exports totaled $X in 2021. In general, exports, however, showed strong growth. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The exports peaked at $X in 2019; afterwards, it flattened through to 2021.

Exports by Country

Colombia (X kg) was the main destination for spades and shovels exports from Uruguay, with a X% share of total exports. Moreover, spades and shovels exports to Colombia exceeded the volume sent to the second major destination, Slovenia (X kg), ninefold.

From 2012 to 2021, the average annual growth rate of volume to Colombia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (X% per year) and Germany (-X% per year).

In value terms, Colombia ($X) emerged as the key foreign market for spades and shovels exports from Uruguay, comprising X% of total exports. The second position in the ranking was held by Germany ($X), with a X% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Colombia amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-X% per year) and Slovenia (-X% per year).

Export Prices by Country

The average spades and shovels export price stood at $X per ton in 2021, with an increase of X% against the previous year. Over the period under review, export price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when the average export price increased by X%. The export price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Colombia ($X per ton), while the average price for exports to Slovenia ($X per ton) was amongst the lowest.

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

Spades And Shovels Imports

Imports into Uruguay

In 2021, overseas purchases of spades and shovels decreased by -X% to X tons, falling for the third year in a row after two years of growth. Overall, imports faced a deep setback. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, spades and shovels imports fell sharply to $X in 2021. Over the period under review, imports faced a abrupt setback. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Brazil (X tons) constituted the largest spades and shovels supplier to Uruguay, with a X% share of total imports. Moreover, spades and shovels imports from Brazil exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Argentina (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual growth rate of volume from Brazil stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-X% per year) and Argentina (-X% per year).

In value terms, the largest spades and shovels suppliers to Uruguay were Brazil ($X), China ($X) and Argentina ($X), together comprising X% of total imports. These countries were followed by Mexico and Colombia, which together accounted for a further X, with a CAGR of -X%, saw 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 a decline.

Import Prices by Country

In 2021, the average spades and shovels import price amounted to $X per ton, increasing by X% against the previous year. Over the period from 2012 to 2021, 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 the country of origin: the country with the highest price was Argentina ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

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

Source: IndexBox Market Intelligence Platform

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