Latin America and the Caribbean: Market for Electro-Thermic Appliances Or Domestic Purposes 2022

Market Size for Electro-Thermic Appliances Or Domestic Purposes in Latin America and the Caribbean

The Latin American market for electro-thermic appliances or domestic purposes soared to $X in 2021, picking up by 51% against the previous year. The total consumption indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +75.4% against 2019 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Electro-Thermic Appliances Or Domestic Purposes in Latin America and the Caribbean

In value terms, electro-thermic appliances or domestic purposes production dropped to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a slight contraction. The most prominent rate of growth was recorded in 2020 when the production volume increased by 27% against the previous year. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Exports of Electro-Thermic Appliances Or Domestic Purposes

Exports in Latin America and the Caribbean

For the third consecutive year, LatAmerica and the Caribbean recorded growth in overseas shipments of electro-thermic appliances or domestic purposes, which increased by 32% to X units in 2021. In general, exports recorded a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, electro-thermic appliances or domestic purposes exports surged to $X in 2021. Total exports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +7.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +53.7% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico dominates exports structure, reaching X units, which was near 81% of total exports in 2021. It was distantly followed by Panama (X units), committing a 5.3% share of total exports. Chile (X units), Brazil (X units), Colombia (X units) and Costa Rica (X units) took a relatively small share of total exports.

Exports from Mexico increased at an average annual rate of +12.7% from 2012 to 2021. At the same time, Costa Rica (+47.1%), Chile (+34.3%), Colombia (+28.1%) and Brazil (+15.2%) displayed positive paces of growth. Moreover, Costa Rica emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +47.1% from 2012-2021. By contrast, Panama (-2.4%) illustrated a downward trend over the same period. While the share of Mexico (+6.9 p.p.), Chile (+3.2 p.p.), Costa Rica (+2 p.p.) and Colombia (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Panama (-12.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest electro-thermic appliances or domestic purposes supplier in Latin America and the Caribbean, comprising 85% of total exports. The second position in the ranking was held by Panama ($X), with a 4.6% share of total exports. It was followed by Chile, with a 3.8% share.

In Mexico, electro-thermic appliances or domestic purposes exports expanded at an average annual rate of +8.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Panama (-4.7% per year) and Chile (+38.2% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per unit, shrinking by -1.5% against the previous year. Overall, the export price recorded a pronounced slump. The pace of growth was the most pronounced in 2018 when the export price increased by 13%. Over the period under review, the export prices reached the maximum at $X per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Mexico ($X per unit), while Colombia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+2.9%), while the other leaders experienced a decline in the export price figures.

Imports of Electro-Thermic Appliances Or Domestic Purposes

Imports in Latin America and the Caribbean

In 2021, approx. X units of electro-thermic appliances or domestic purposes were imported in Latin America and the Caribbean; surging by 120% against 2020 figures. Overall, imports recorded a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, electro-thermic appliances or domestic purposes imports soared to $X in 2021. In general, imports recorded a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Colombia (X units), distantly followed by Chile (X units), Peru (X units), Costa Rica (X units), Argentina (X units) and Mexico (X units) represented the major importers of electro-thermic appliances or domestic purposes, together generating 84% of total imports. The following importers - Ecuador (X units) and Brazil (X units) - each recorded a 6.1% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Chile (with a CAGR of +26.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Mexico ($X) and Chile ($X) were the countries with the highest levels of imports in 2021, together accounting for 67% of total imports.

Among the main importing countries, Chile, with a CAGR of +24.8%, 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 more modest paces of growth.

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, which is down by -6.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.0%. The pace of growth was the most pronounced in 2013 when the import price increased by 40%. Over the period under review, import prices attained the maximum at $X per unit in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+13.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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