Brazil: Measuring Instrument Market 2022

Measuring Instrument Market Size in Brazil

In 2021, the Brazilian measuring instrument market decreased by -2.8% to $X for the first time since 2015, thus ending a five-year rising trend. Overall, the total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +65.3% against 2015 indices. Over the period under review, the market hit record highs at $X in 2020, and then dropped modestly in the following year.

Measuring Instrument Production in Brazil

In value terms, measuring instrument production totaled $X in 2021 estimated in export price. In general, production continues to indicate a perceptible decline. The most prominent rate of growth was recorded in 2013 with an increase of 35% against the previous year. Measuring instrument production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Measuring Instrument Exports

Exports from Brazil

After four years of decline, shipments abroad of instruments and apparatus for measuring or checking the flow or level of liquids increased by 60% to X units in 2021. Overall, exports, however, recorded a slight decrease. The pace of growth appeared the most rapid in 2016 with an increase of 86% against the previous year. As a result, the exports attained the peak of X units. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, measuring instrument exports skyrocketed to $X in 2021. In general, exports, however, showed a pronounced setback. The most prominent rate of growth was recorded in 2016 with an increase of 39%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for measuring instrument exports from Brazil, accounting for a 35% share of total exports. Moreover, measuring instrument exports to the United States exceeded the volume sent to the second major destination, Argentina (X units), twofold. The third position in this ranking was held by Mexico (X units), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (-10.9% per year) and Mexico (+7.9% per year).

In value terms, the United States ($X) remains the key foreign market for measuring instrument exports from Brazil, comprising 26% of total exports. The second position in the ranking was taken by Argentina ($X), with a 13% share of total exports. It was followed by Chile, with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at -3.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (-3.9% per year) and Chile (+17.0% per year).

Export Prices by Country

In 2021, the average measuring instrument export price amounted to $X per unit, falling by -18.6% against the previous year. In general, the export price showed a slight reduction. The most prominent rate of growth was recorded in 2018 an increase of 48%. Over the period under review, the average export prices hit record highs at $X per unit in 2020, and then fell notably in the following year.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Chile ($X per unit), while the average price for exports to Ecuador ($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 Chile (+12.4%), while the prices for the other major destinations experienced more modest paces of growth.

Measuring Instrument Imports

Imports into Brazil

In 2021, measuring instrument imports into Brazil surged to X units, picking up by 51% against the year before. Over the period under review, imports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2014 when imports increased by 51% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, measuring instrument imports soared to $X in 2021. Overall, imports posted strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of measuring instrument to Brazil, accounting for a 31% share of total imports. Moreover, measuring instrument imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), twofold. The third position in this ranking was held by Italy (X units), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+15.9% per year) and Italy (+23.2% per year).

In value terms, the United States ($X) constituted the largest supplier of measuring instrument to Brazil, comprising 46% of total imports. The second position in the ranking was taken by Germany ($X), with a 12% share of total imports. It was followed by Norway, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to +11.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.9% per year) and Norway (+27.3% per year).

Import Prices by Country

In 2021, the average measuring instrument import price amounted to $X per unit, rising by 8.6% against the previous year. Overall, the import price, however, recorded a noticeable reduction. The growth pace was the most rapid in 2019 an increase of 12% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+2.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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