Chile: Measuring Instrument Market 2022

Measuring Instrument Market Size in Chile

In 2021, the Chilean measuring instrument market increased by 6.5% to $X, rising for the fourth year in a row after two years of decline. Overall, the total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.2% 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 +50.0% against 2017 indices. Over the period under review, the market attained the peak level in 2021 and is likely to continue growth in the near future.

Measuring Instrument Production in Chile

In value terms, measuring instrument production reduced modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when the production volume increased by 9.4%. Over the period under review, production hit record highs at $X in 2020, and then fell modestly in the following year.

Measuring Instrument Exports

Exports from Chile

In 2021, approx. X units of instruments and apparatus for measuring or checking the flow or level of liquids were exported from Chile; which is down by -35% compared with the previous year's figure. Over the period under review, exports saw a deep setback. The pace of growth appeared the most rapid in 2014 when exports increased by 102%. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, measuring instrument exports contracted rapidly to $X in 2021. Overall, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when exports increased by 241% against the previous year. As a result, the exports reached the peak of $X, and then fell markedly in the following year.

Exports by Country

Ecuador (X units), Argentina (X units) and Peru (X units) were the main destinations of measuring instrument exports from Chile, with a combined 83% share of total exports.

From 2012 to 2021, the biggest increases were in Ecuador (with a CAGR of +37.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X) remains the key foreign market for measuring instrument exports from Chile, comprising 59% of total exports. The second position in the ranking was held by Ecuador ($X), with a 12% share of total exports. It was followed by Peru, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to Argentina totaled +45.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+103.2% per year) and Peru (-2.8% per year).

Export Prices by Country

The average measuring instrument export price stood at $X per unit in 2021, standing approx. at the previous year. In general, export price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, measuring instrument export price increased by +81.0% against 2019 indices. The pace of growth appeared the most rapid in 2020 when the average export price increased by 82% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Uruguay ($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 the United Arab Emirates (+2,768.3%), while the prices for the other major destinations experienced more modest paces of growth.

Measuring Instrument Imports

Imports into Chile

In 2021, supplies from abroad of instruments and apparatus for measuring or checking the flow or level of liquids increased by 2.8% to X units, rising for the fourth year in a row after two years of decline. Over the period under review, imports showed prominent growth. The growth pace was the most rapid in 2018 with an increase of 49% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, measuring instrument imports rose significantly to $X in 2021. The total import value increased at an average annual rate of +4.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when imports increased by 22%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X units) constituted the largest measuring instrument supplier to Chile, with a 62% share of total imports. Moreover, measuring instrument imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), more than tenfold. The third position in this ranking was held by Spain (X units), with a 4.3% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +20.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+1.1% per year) and Spain (+15.2% per year).

In value terms, the United States ($X) constituted the largest supplier of measuring instrument to Chile, comprising 28% of total imports. The second position in the ranking was held by Germany ($X), with a 12% share of total imports. It was followed by China, with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+0.2% per year) and China (+14.9% per year).

Import Prices by Country

The average measuring instrument import price stood at $X per unit in 2021, with an increase of 6.6% against the previous year. In general, the import price, however, recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2016 an increase of 71%. The import price peaked at $X per unit in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+31.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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