Chile: Public Works Machinery Market 2024

Public Works Machinery Market Size in Chile

In 2021, the Chilean public works machinery market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, the total consumption indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Public Works Machinery Exports

Exports from Chile

Public works machinery exports from Chile declined dramatically to X units in 2021, reducing by -35.6% on the year before. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 542%. As a result, the exports reached the peak of X units. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, public works machinery exports skyrocketed to $X in 2021. In general, exports recorded a abrupt decline. The pace of growth was the most pronounced in 2016 when exports increased by 183%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Peru (X units) was the main destination for public works machinery exports from Chile, accounting for a 58% share of total exports. Moreover, public works machinery exports to Peru exceeded the volume sent to the second major destination, Bolivia (X units), twofold. Paraguay (X units) ranked third in terms of total exports with a 7.9% share.

From 2012 to 2021, the average annual growth rate of volume to Peru totaled -5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (+8.8% per year) and Paraguay (+13.0% per year).

In value terms, Bolivia ($X) emerged as the key foreign market for machinery for public works and building exports from Chile, comprising 56% of total exports. The second position in the ranking was held by Peru ($X), with a 17% share of total exports. It was followed by Colombia, with a 9.9% share.

From 2012 to 2021, the average annual growth rate of value to Bolivia totaled +28.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (-18.7% per year) and Colombia (-7.2% per year).

Export Prices by Country

In 2021, the average public works machinery export price amounted to $X per unit, increasing by 87% against the previous year. In general, the export price, however, continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2017 an increase of 91%. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Uruguay ($X per unit), while the average price for exports to Peru ($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 Uruguay (+28.2%), while the prices for the other major destinations experienced mixed trend patterns.

Public Works Machinery Imports

Imports into Chile

In 2021, after two years of decline, there was significant growth in supplies from abroad of machinery for public works and building, when their volume increased by 144% to X units. Over the period under review, total imports indicated measured growth from 2012 to 2021: its volume increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, public works machinery imports soared to $X in 2021. In general, total imports indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 public works machinery supplier to Chile, with a 78% share of total imports. Moreover, public works machinery imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), tenfold. Germany (X units) ranked third in terms of total imports with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-5.2% per year) and Germany (+0.9% per year).

In value terms, Germany ($X), the United States ($X) and Spain ($X) appeared to be the largest public works machinery suppliers to Chile, with a combined 72% share of total imports. China, Italy and Belgium lagged somewhat behind, together comprising a further 16%.

Belgium, with a CAGR of +33.2%, saw 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 more modest paces of growth.

Import Prices by Country

The average public works machinery import price stood at $X per unit in 2021, picking up by 23% against the previous year. In general, the import price, however, saw a pronounced curtailment. The most prominent rate of growth was recorded in 2015 when the average import price increased by 44% against the previous year. As a result, import price attained the peak level of $X per unit. From 2016 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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