Guatemala: Market for Industrial Sewing Machines (Non-Automatic) 2024

Market Size for Industrial Sewing Machines (Non-Automatic) in Guatemala

The Guatemalan industrial sewing machines (non-automatic) market expanded significantly to $X in 2022, with an increase of 5.1% against the previous year. Overall, consumption, however, recorded a perceptible expansion. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Production of Industrial Sewing Machines (Non-Automatic) in Guatemala

In value terms, industrial sewing machines (non-automatic) production totaled $X in 2022 estimated in export price. Over the period under review, production saw a precipitous descent. The pace of growth appeared the most rapid in 2014 when the production volume decreased by 99.9%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Industrial Sewing Machines (Non-Automatic)

Exports from Guatemala

In 2022, the amount of industrial sewing machines (non-automatic) exported from Guatemala soared to X units, picking up by 89% compared with the previous year's figure. Overall, exports, however, saw a abrupt setback. The most prominent rate of growth was recorded in 2015 with an increase of 198% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, industrial sewing machines (non-automatic) exports skyrocketed to $X in 2022. Over the period under review, exports, however, saw a abrupt slump. The growth pace was the most rapid in 2015 when exports increased by 154%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for industrial sewing machines (non-automatic) exports from Guatemala, with a 42% share of total exports. Moreover, industrial sewing machines (non-automatic) exports to the United States exceeded the volume sent to the second major destination, Nicaragua (X units), twofold. The third position in this ranking was taken by El Salvador (X units), with an 18% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +18.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (-12.7% per year) and El Salvador (-12.9% per year).

In value terms, the United States ($X) emerged as the key foreign market for industrial sewing machines (non-automatic) exports from Guatemala, comprising 42% of total exports. The second position in the ranking was taken by Nicaragua ($X), with a 20% share of total exports. It was followed by El Salvador, with an 18% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +19.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (-7.3% per year) and El Salvador (-16.5% per year).

Export Prices by Country

The average industrial sewing machines (non-automatic) export price stood at $X per unit in 2022, shrinking by -3.4% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 25%. The export price peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Honduras ($X per unit) and Costa Rica ($X per unit), while the average price for exports to El Salvador ($X per unit) and the United States ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Haiti (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Industrial Sewing Machines (Non-Automatic)

Imports into Guatemala

In 2022, purchases abroad of industrial sewing machines (non-automatic) decreased by -22.1% to X units, falling for the second year in a row after four years of growth. Over the period under review, imports, however, showed a measured increase. The most prominent rate of growth was recorded in 2018 with an increase of 47% against the previous year. Over the period under review, imports reached the peak figure at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, industrial sewing machines (non-automatic) imports skyrocketed to $X in 2022. Overall, imports, however, enjoyed a buoyant expansion. The growth pace was the most rapid in 2021 with an increase of 34% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Vietnam (X units), China (X units) and the Netherlands (X units) were the main suppliers of industrial sewing machines (non-automatic) imports to Guatemala, together comprising 66% of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +85.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of industrial sewing machines (non-automatic) to Guatemala, comprising 73% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 10% share of total imports. It was followed by Taiwan (Chinese), with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +20.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+71.1% per year) and Taiwan (Chinese) (+17.5% per year).

Import Prices by Country

In 2022, the average industrial sewing machines (non-automatic) import price amounted to $X per unit, jumping by 64% against the previous year. Overall, the import price continues to indicate pronounced growth. The pace of growth was the most pronounced in 2016 an increase of 81%. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per unit), while the price for Nicaragua ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+31.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform