Guatemala: Radio Receiver Market 2024

Radio Receiver Market Size in Guatemala

In 2022, the Guatemalan radio receiver market increased by 20% to $X, rising for the second consecutive year after three years of decline. Overall, the total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +48.4% against 2020 indices. Radio receiver consumption peaked in 2022 and is expected to retain growth in the near future.

Radio Receiver Exports

Exports from Guatemala

Radio receiver exports from Guatemala shrank significantly to X units in 2022, declining by -53.1% compared with the year before. Over the period under review, exports recorded a deep reduction. The pace of growth appeared the most rapid in 2021 when exports increased by 274%. Over the period under review, the exports attained the peak figure at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, radio receiver exports plummeted to $X in 2022. Overall, exports faced a deep setback. The most prominent rate of growth was recorded in 2021 when exports increased by 276% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Honduras (X units), El Salvador (X units) and Nicaragua (X units) were the main destinations of radio receiver exports from Guatemala, with a combined 92% share of total exports. Democratic Republic of the Congo, Panama and Colombia lagged somewhat behind, together accounting for a further 4.1%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Democratic Republic of the Congo (with a CAGR of +720.0%), while the other leaders experienced a decline.

In value terms, the largest markets for radio receiver exported from Guatemala were Honduras ($X), El Salvador ($X) and Nicaragua ($X), together accounting for 94% of total exports. Democratic Republic of the Congo, Panama and Colombia lagged somewhat behind, together accounting for a further 2%.

In terms of the main countries of destination, Democratic Republic of the Congo, with a CAGR of +529.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average radio receiver export price stood at $X per unit in 2022, dropping by -10.1% against the previous year. Over the period under review, the export price, however, showed noticeable growth. The most prominent rate of growth was recorded in 2016 when the average export price increased by 138%. The export price peaked at $X per unit in 2021, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Panama ($X per unit), while the average price for exports to Democratic Republic of the Congo ($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 Costa Rica (+6.7%), while the prices for the other major destinations experienced more modest paces of growth.

Radio Receiver Imports

Imports into Guatemala

In 2022, purchases abroad of radio receivers decreased by -0.5% to X units for the first time since 2018, thus ending a three-year rising trend. Overall, total imports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +34.3% against 2018 indices. The most prominent rate of growth was recorded in 2015 with an increase of 69%. Imports peaked at X units in 2021, and then fell modestly in the following year.

In value terms, radio receiver imports surged to $X in 2022. In general, total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +54.6% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of 54% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest radio receiver supplier to Guatemala, with a 61% share of total imports. Moreover, radio receiver imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), twofold. The third position in this ranking was taken by Malaysia (X units), with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +15.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+10.6% per year) and Malaysia (-11.6% per year).

In value terms, China ($X) constituted the largest supplier of radio receivers to Guatemala, comprising 75% of total imports. The second position in the ranking was held by Malaysia ($X), with a 10% share of total imports. It was followed by the United States, with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +20.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-1.8% per year) and the United States (-1.5% per year).

Import Prices by Country

The average radio receiver import price stood at $X per unit in 2022, picking up by 24% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per unit in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform