Chile: Market for Instruments for Measuring Electrical Quantities 2024

Market Size for Instruments for Measuring Electrical Quantities in Chile

In 2021, after two years of decline, there was significant growth in the Chilean market for instruments for measuring electrical quantities, when its value increased by 24% to $X. Overall, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Instruments for Measuring Electrical Quantities

Exports from Chile

In 2021, exports of instruments for measuring electrical quantities from Chile soared to X units, picking up by 215% compared with 2020. Over the period under review, exports posted a strong expansion. Over the period under review, the exports attained the maximum at X units in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, instruments for measuring electrical quantities exports plummeted to $X in 2021. In general, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when exports increased by 212% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2020, and then dropped significantly in the following year.

Exports by Country

Argentina (X units) was the main destination for instruments for measuring electrical quantities exports from Chile, with a 53% share of total exports. Moreover, instruments for measuring electrical quantities exports to Argentina exceeded the volume sent to the second major destination, France (X units), threefold. Venezuela (X units) ranked third in terms of total exports with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Argentina stood at +19.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+4.3% per year) and Venezuela (0.0% per year).

In value terms, the largest markets for instruments for measuring electrical quantities exported from Chile were Mexico ($X), Venezuela ($X) and Brazil ($X), together accounting for 60% of total exports.

Among the main countries of destination, Mexico, with a CAGR of +105.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for instruments for measuring electrical quantities stood at $X per unit in 2021, reducing by -81.6% against the previous year. In general, the export price continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2020 when the average export price increased by 642%. As a result, the export price attained the peak level of $X per unit, and then shrank significantly in the following year.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Brazil ($X per unit), while the average price for exports to Argentina ($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 Mexico (+11.8%), while the prices for the other major destinations experienced a decline.

Imports of Instruments for Measuring Electrical Quantities

Imports into Chile

In 2021, after four years of decline, there was significant growth in purchases abroad of instruments for measuring electrical quantities, when their volume increased by 34% to X units. Over the period under review, imports, however, continue to indicate a slight shrinkage. Imports peaked at X units in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, instruments for measuring electrical quantities imports soared to $X in 2021. The total import value increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when imports increased by 30% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest instruments for measuring electrical quantities supplier to Chile, with a 66% share of total imports. Moreover, instruments for measuring electrical quantities imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), eightfold. The third position in this ranking was held by Germany (X units), with a 3.7% share.

From 2012 to 2021, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+5.7% per year) and Germany (+4.3% per year).

In value terms, the United States ($X), China ($X) and Germany ($X) constituted the largest instruments for measuring electrical quantities suppliers to Chile, with a combined 53% share of total imports.

Germany, with a CAGR of +11.5%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average import price for instruments for measuring electrical quantities amounted to $X per unit, declining by -10.4% against the previous year. Overall, import price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 an increase of 40%. Over the period under review, average import prices reached the peak figure at $X per unit in 2020, and then reduced in the following year.

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 Mexico (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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