Guatemala: Personal Weighing Machine Market 2024

Personal Weighing Machine Market Size in Guatemala

In 2022, after five years of growth, there was significant decline in the Guatemalan personal weighing machine market, when its value decreased by -45.4% to $X. In general, consumption, however, recorded prominent growth. As a result, consumption attained the peak level of $X, and then dropped rapidly in the following year.

Personal Weighing Machine Exports

Exports from Guatemala

In 2022, overseas shipments of personal weighing machines increased by 17% to X units, rising for the second year in a row after three years of decline. In general, exports recorded resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 922% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, personal weighing machine exports rose rapidly to $X in 2022. Overall, exports recorded a resilient expansion. The growth pace was the most rapid in 2021 with an increase of 976%. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

Honduras (X units) was the main destination for personal weighing machine exports from Guatemala, accounting for a 56% share of total exports. Moreover, personal weighing machine exports to Honduras exceeded the volume sent to the second major destination, El Salvador (X units), threefold. Nicaragua (X units) ranked third in terms of total exports with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Honduras stood at +17.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+4.0% per year) and Nicaragua (+8.2% per year).

In value terms, Honduras ($X) emerged as the key foreign market for personal weighing machines exports from Guatemala, comprising 56% of total exports. The second position in the ranking was taken by El Salvador ($X), with a 22% share of total exports. It was followed by Nicaragua, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Honduras totaled +15.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+1.9% per year) and Nicaragua (+6.0% per year).

Export Prices by Country

In 2022, the average personal weighing machine export price amounted to $X per unit, which is down by -7% against the previous year. Overall, the export price recorded a mild downturn. The pace of growth was the most pronounced in 2019 an increase of 63%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Panama ($X per unit) and El Salvador ($X per unit), while the average price for exports to Nicaragua ($X per unit) and Honduras ($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 Panama (-2.0%), while the prices for the other major destinations experienced a decline.

Personal Weighing Machine Imports

Imports into Guatemala

After five years of growth, overseas purchases of personal weighing machines decreased by -46.5% to X units in 2022. Overall, imports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2021 when imports increased by 75%. As a result, imports reached the peak of X units, and then dropped significantly in the following year.

In value terms, personal weighing machine imports reduced dramatically to $X in 2022. In general, imports, however, posted a remarkable increase. The pace of growth appeared the most rapid in 2021 with an increase of 67%. As a result, imports attained the peak of $X, and then shrank rapidly in the following year.

Imports by Country

In 2022, China (X units) was the main personal weighing machine supplier to Guatemala, with a 91% share of total imports. Moreover, personal weighing machine imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +16.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+12.9% per year) and the United States (-14.1% per year).

In value terms, China ($X) constituted the largest supplier of personal weighing machines to Guatemala, comprising 91% of total imports. The second position in the ranking was held by Germany ($X), with a 4% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to +15.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+12.3% per year) and the United States (-14.5% per year).

Import Prices by Country

The average personal weighing machine import price stood at $X per unit in 2022, surging by 5% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 32% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for the United States ($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 (-0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform