Latin America and the Caribbean: Twine Product Market 2022

Twine Product Market Size in Latin America and the Caribbean

The Latin American twine product market declined to $X in 2021, approximately equating the previous year. The total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +8.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +111.7% against 2012 indices. Over the period under review, the market hit record highs at $X in 2020, and then contracted slightly in the following year.

Twine Product Production in Latin America and the Caribbean

In value terms, twine product production reduced slightly to $X in 2021 estimated in export price. Overall, production, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2013 with an increase of 37%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Twine Product Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of articles of twine, cordage, rope or cables was finally on the rise to reach X tons after two years of decline. The total export volume increased at an average annual rate of +6.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, twine product exports soared to $X in 2021. The total export value increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when exports increased by 41%. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Mexico (X tons) was the main exporter of articles of twine, cordage, rope or cables, creating 62% of total exports. Guatemala (X tons) ranks second in terms of the total exports with a 23% share, followed by Honduras (6.5%). The Dominican Republic (X tons) followed a long way behind the leaders.

Exports from Mexico increased at an average annual rate of +9.7% from 2012 to 2021. At the same time, Guatemala (+21.3%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +21.3% from 2012-2021. By contrast, the Dominican Republic (-4.0%) and Honduras (-6.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Guatemala and Mexico increased by +16 and +15 percentage points, respectively.

In value terms, Mexico ($X) remains the largest twine product supplier in Latin America and the Caribbean, comprising 67% of total exports. The second position in the ranking was taken by Guatemala ($X), with a 14% share of total exports. It was followed by the Dominican Republic, with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Mexico amounted to +7.1%. In the other countries, the average annual rates were as follows: Guatemala (+19.9% per year) and the Dominican Republic (+4.4% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, dropping by -15.4% against the previous year. Overall, the export price showed a pronounced decrease. The pace of growth was the most pronounced in 2015 an increase of 14% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the the export prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the Dominican Republic ($X per ton), while Honduras ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Dominican Republic (+8.7%), while the other leaders experienced a decline in the export price figures.

Twine Product Imports

Imports in Latin America and the Caribbean

In 2021, the amount of articles of twine, cordage, rope or cables imported in Latin America and the Caribbean surged to X tons, with an increase of 44% on 2020 figures. Total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, twine product imports surged to $X in 2021. Total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when imports increased by 19%. The level of import peaked in 2021 and is likely to continue growth in the immediate term.

Imports by Country

Mexico was the major importer of articles of twine, cordage, rope or cables in Latin America and the Caribbean, with the volume of imports amounting to X tons, which was near 49% of total imports in 2021. Chile (X tons) ranks second in terms of the total imports with a 14% share, followed by Colombia (7.3%) and Panama (5.2%). Honduras (X tons), Costa Rica (X tons), El Salvador (X tons), Brazil (X tons), Nicaragua (X tons) and Argentina (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to twine product imports into Mexico stood at +7.9%. At the same time, Honduras (+32.9%), Chile (+15.3%), El Salvador (+10.8%), Colombia (+9.7%), Panama (+6.2%), Nicaragua (+4.1%) and Argentina (+1.3%) displayed positive paces of growth. Moreover, Honduras emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +32.9% from 2012-2021. Costa Rica experienced a relatively flat trend pattern. By contrast, Brazil (-7.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Chile, Mexico, Honduras and Colombia increased by +7.1, +6.1, +3.8 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported articles of twine, cordage, rope or cables in Latin America and the Caribbean, comprising 53% of total imports. The second position in the ranking was taken by Chile ($X), with an 11% share of total imports. It was followed by Colombia, with a 6.5% share.

In Mexico, twine product imports increased at an average annual rate of +8.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Chile (+12.1% per year) and Colombia (-0.2% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, which is down by -18.6% against the previous year. Overall, the import price continues to indicate a mild contraction. The growth pace was the most rapid in 2016 when the import price increased by 26%. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Brazil ($X per ton), while Honduras ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+3.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :