Latin America and the Caribbean: Ball Market 2024

Ball Market Size in Latin America and the Caribbean

In 2022, the Latin American ball market increased by 48% to $X, rising for the second consecutive year after two years of decline. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Ball Production in Latin America and the Caribbean

In value terms, ball production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 45%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Ball Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of balls increased by 45% to X units, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, recorded a noticeable curtailment. The volume of export peaked at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, ball exports soared to $X in 2022. In general, exports, however, saw a relatively flat trend pattern. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Costa Rica was the largest exporting country with an export of around X units, which accounted for 55% of total exports. Panama (X units) ranks second in terms of the total exports with a 19% share, followed by Mexico (11%). The following exporters - the Dominican Republic (X units), Brazil (X units), Chile (X units) and Peru (X units) - together made up 12% of total exports.

Exports from Costa Rica increased at an average annual rate of +4.4% from 2012 to 2022. At the same time, Chile (+11.4%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +11.4% from 2012-2022. By contrast, Brazil (-1.8%), Mexico (-3.8%), the Dominican Republic (-6.8%), Panama (-12.7%) and Peru (-14.5%) illustrated a downward trend over the same period. While the share of Costa Rica (+32 p.p.) and Chile (+2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Peru (-4.8 p.p.) and Panama (-28.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Costa Rica ($X) remains the largest ball supplier in Latin America and the Caribbean, comprising 51% of total exports. The second position in the ranking was taken by Panama ($X), with a 14% share of total exports. It was followed by the Dominican Republic, with an 11% share.

In Costa Rica, ball exports increased at an average annual rate of +3.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Panama (-7.6% per year) and the Dominican Republic (+10.3% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, almost unchanged from the previous year. Export price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ball export price decreased by -3.3% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 29%. Over the period under review, the export prices attained the maximum at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Chile ($X per unit), while Peru ($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 Dominican Republic (+18.4%), while the other leaders experienced more modest paces of growth.

Ball Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of balls increased by 42% to X units, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, recorded a perceptible contraction. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, ball imports soared to $X in 2022. In general, imports saw a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Brazil represented the key importer of balls in Latin America and the Caribbean, with the volume of imports recording X units, which was approx. 34% of total imports in 2022. Chile (X units) ranks second in terms of the total imports with a 14% share, followed by Mexico (9.3%), Argentina (7.7%), Venezuela (5.9%), Colombia (5.4%) and Peru (5.2%).

Imports into Brazil decreased at an average annual rate of -6.3% from 2012 to 2022. At the same time, Argentina (+6.9%) and Chile (+4.9%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +6.9% from 2012-2022. Venezuela experienced a relatively flat trend pattern. By contrast, Mexico (-2.1%), Colombia (-2.4%) and Peru (-5.0%) illustrated a downward trend over the same period. Chile (+7.6 p.p.), Argentina (+4.7 p.p.) and Venezuela (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Brazil saw its share reduced by -14.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest ball importing markets in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Chile ($X), with a combined 51% share of total imports. Argentina, Peru, Colombia and Venezuela lagged somewhat behind, together comprising a further 25%.

Among the main importing countries, Argentina, with a CAGR of +7.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2022, growing by 16% against the previous year. Over the last decade, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2013 when the import price increased by 17% against the previous year. The level of import peaked at $X per unit in 2016; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mexico ($X per unit), while Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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