Latin America and the Caribbean: Measuring Instrument Market 2024

Measuring Instrument Market Size in Latin America and the Caribbean

In 2023, the Latin American measuring instrument market decreased by X% to $X for the first time since 2016, thus ending a six-year rising trend. In general, consumption, however, recorded a remarkable increase. As a result, consumption attained the peak level of $X, and then dropped rapidly in the following year.

Measuring Instrument Production in Latin America and the Caribbean

In value terms, measuring instrument production fell sharply to $X in 2023 estimated in export price. Over the period under review, production saw a pronounced decline. The most prominent rate of growth was recorded in 2022 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2023, production stood at a somewhat lower figure.

Measuring Instrument Exports

Exports in Latin America and the Caribbean

After two years of growth, overseas shipments of instruments and apparatus for measuring or checking the flow or level of liquids decreased by X% to X units in 2023. Over the period under review, exports saw a abrupt setback. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2022, and then reduced sharply in the following year.

In value terms, measuring instrument exports rose remarkably to $X in 2023. Total exports indicated a tangible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2022 with an increase of X% against the previous year. The level of export peaked in 2023 and is likely to see gradual growth in the near future.

Exports by Country

Brazil (X units) and Mexico (X units) prevails in exports structure, together making up X% of total exports. Argentina (X units) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Argentina (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Mexico ($X) remains the largest measuring instrument supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Brazil ($X), with a X% share of total exports.

In Mexico, measuring instrument exports increased at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (X% per year) and Argentina (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2023, growing by X% against the previous year. In general, the export price enjoyed a significant expansion. Over the period under review, the export prices attained the maximum at $X per unit in 2014; however, from 2015 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mexico ($X per unit), while Brazil ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced mixed trends in the export price figures.

Measuring Instrument Imports

Imports in Latin America and the Caribbean

In 2023, purchases abroad of instruments and apparatus for measuring or checking the flow or level of liquids decreased by X% to X units for the first time since 2020, thus ending a two-year rising trend. Over the period under review, imports, however, enjoyed a strong increase. The pace of growth was the most pronounced in 2021 when imports increased by X%. The volume of import peaked at X units in 2022, and then dropped markedly in the following year.

In value terms, measuring instrument imports surged to $X in 2023. Total imports indicated a noticeable expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of import peaked in 2023 and is likely to see gradual growth in the near future.

Imports by Country

Mexico represented the largest importing country with an import of about X units, which resulted at X% of total imports. It was distantly followed by Brazil (X units), creating a X% share of total imports. Argentina (X units) took a little share of total imports.

From 2012 to 2023, average annual rates of growth with regard to measuring instrument imports into Mexico stood at X%. At the same time, Brazil (X%) and Argentina (X%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. While the share of Mexico (X p.p.) and Brazil (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X), Mexico ($X) and Argentina ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

Among the main importing countries, Brazil, with a CAGR of X%, saw the highest rates of growth with regard to 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 2023, the import price in Latin America and the Caribbean amounted to $X per unit, increasing by X% against the previous year. In general, the import price, however, saw a noticeable reduction. Over the period under review, import prices reached the maximum at $X per unit in 2015; however, from 2016 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Argentina ($X per unit), while Mexico ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Argentina (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform