Latin America and the Caribbean: Working Wire Machine Market 2024

Working Wire Machine Market Size in Latin America and the Caribbean

The Latin American working wire machine market rose markedly to $X in 2023, with an increase of X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The level of consumption peaked in 2023 and is expected to retain growth in the immediate term.

Working Wire Machine Production in Latin America and the Caribbean

In value terms, working wire machine production reached $X in 2023 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2023, production growth remained at a somewhat lower figure.

Working Wire Machine Exports

Exports in Latin America and the Caribbean

In 2023, after three years of growth, there was significant decline in overseas shipments of machines for working wire, when their volume decreased by X% to X units. In general, exports recorded a sharp shrinkage. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. As a result, the exports attained the peak of X units. From 2019 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, working wire machine exports declined markedly to $X in 2023. Over the period under review, exports recorded a deep downturn. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Brazil dominates exports structure, amounting to X units, which was approx. X% of total exports in 2023. Argentina (X units) took the second position in the ranking, followed by the Dominican Republic (X units). All these countries together took approx. X% share of total exports. Colombia (X units), Honduras (X units), Peru (X units) and Costa Rica (X units) held a minor share of total exports.

From 2012 to 2023, average annual rates of growth with regard to working wire machine exports from Brazil stood at X%. At the same time, Argentina (X%), the Dominican Republic (X%) and Honduras (X%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. Colombia experienced a relatively flat trend pattern. By contrast, Costa Rica (X%) and Peru (X%) illustrated a downward trend over the same period. Argentina (X p.p.), the Dominican Republic (X p.p.), Honduras (X p.p.), Colombia (X p.p.) and Peru (X p.p.) significantly strengthened its position in terms of the total exports, while Brazil saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest working wire machine supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Honduras ($X), with a X% share of total exports. It was followed by Peru, with a X% share.

In Brazil, working wire machine exports declined by 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: Honduras (X% per year) and Peru (X% per year).

Export Prices by Country

In 2023, the export price in Latin America and the Caribbean amounted to $X per unit, picking up by X% against the previous year. In general, the export price continues to indicate a significant expansion. The pace of growth was the most pronounced in 2019 an increase of X%. Over the period under review, the export prices hit record highs at $X per unit in 2021; however, from 2022 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Honduras ($X per unit), while Brazil ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the other leaders experienced more modest paces of growth.

Working Wire Machine Imports

Imports in Latin America and the Caribbean

In 2023, imports of machines for working wire in Latin America and the Caribbean skyrocketed to X units, jumping by X% compared with the previous year. In general, imports, however, continue to indicate a slight downturn. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, imports attained the peak of X units. From 2015 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, working wire machine imports expanded rapidly to $X in 2023. Overall, imports, however, showed a pronounced contraction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Brazil represented the key importing country with an import of around X units, which finished at X% of total imports. Honduras (X units) held the second position in the ranking, followed by the Dominican Republic (X units), Mexico (X units), Costa Rica (X units), Peru (X units) and Argentina (X units). All these countries together took approx. X% share of total imports. Colombia (X units), Uruguay (X units), Bolivia (X units) and Cuba (X units) held a relatively small share of total imports.

Imports into Brazil increased at an average annual rate of X% from 2012 to 2023. At the same time, the Dominican Republic (X%), Cuba (X%), Costa Rica (X%), Honduras (X%) and Colombia (X%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. By contrast, Mexico (X%), Argentina (X%), Peru (X%), Bolivia (X%) and Uruguay (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of the Dominican Republic, Honduras, Brazil, Costa Rica and Cuba increased by X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X), Mexico ($X) and the Dominican Republic ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

The Dominican Republic, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries 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, declining by X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the import price increased by X%. As a result, import price reached the peak level of $X per unit. From 2014 to 2023, the import prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Dominican Republic (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform