Guatemala: Photo Camera Market 2024

Photo Camera Market Size in Guatemala

The Guatemalan photo camera market rose to $X in 2022, with an increase of 4.2% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Photo Camera Production in Guatemala

In value terms, photo camera production rose rapidly to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 35%. Photo camera production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Photo Camera Exports

Exports from Guatemala

In 2022, the amount of photographic (other than cinematographic) cameras exported from Guatemala surged to X units, picking up by 23% on the previous year. Over the period under review, exports, however, recorded a pronounced curtailment. The pace of growth appeared the most rapid in 2020 when exports increased by 286%. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, photo camera exports shrank dramatically to $X in 2022. In general, exports posted strong growth. The pace of growth was the most pronounced in 2021 with an increase of 2,064% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for photo camera exports from Guatemala, with a 81% share of total exports. Moreover, photo camera exports to the United States exceeded the volume sent to the second major destination, Colombia (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +12.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (0.0% per year) and Honduras (0.0% per year).

In value terms, the United States ($X) remains the key foreign market for photographic (other than cinematographic) cameras exports from Guatemala, comprising 8.6% of total exports. The second position in the ranking was taken by Honduras ($X), with a 2.9% share of total exports. It was followed by Colombia, with a 0.2% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to -4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (-2.2% per year) and Colombia (-12.0% per year).

Export Prices by Country

In 2022, the average photo camera export price amounted to $X per unit, reducing by -67.3% against the previous year. Over the period under review, the export price, however, showed a resilient increase. The growth pace was the most rapid in 2021 when the average export price increased by 14,051% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Honduras ($X per unit), while the average price for exports to Colombia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belize (+66.4%), while the prices for the other major destinations experienced mixed trend patterns.

Photo Camera Imports

Imports into Guatemala

After three years of growth, supplies from abroad of photographic (other than cinematographic) cameras decreased by -11.7% to X units in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 146%. Imports peaked at X units in 2021, and then declined in the following year.

In value terms, photo camera imports declined to $X in 2022. In general, imports recorded a abrupt downturn. The growth pace was the most rapid in 2017 with an increase of 114% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest photo camera supplier to Guatemala, accounting for a 73% share of total imports. Moreover, photo camera imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), fivefold. The United States (X units) ranked third in terms of total imports with a 9.9% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +59.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+19.7% per year) and the United States (-16.6% per year).

In value terms, the largest photo camera suppliers to Guatemala were China ($X), the United States ($X) and Japan ($X), with a combined 96% share of total imports.

China, with a CAGR of +35.2%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average photo camera import price amounted to $X per unit, approximately equating the previous year. Over the period under review, the import price, however, saw a deep downturn. The most prominent rate of growth was recorded in 2013 when the average import price increased by 92% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-2.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform