Latin America and the Caribbean: Hand Tools Market 2025

Hand Tools Market Size in Latin America and the Caribbean

The Latin American hand tools market shrank slightly to $X in 2021, with a decrease of -4.7% against the previous year. The total consumption indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +3.6% 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 +51.0% against 2016 indices. The level of consumption peaked at $X in 2020, and then dropped slightly in the following year.

Hand Tools Production in Latin America and the Caribbean

In value terms, hand tools production contracted remarkably to $X in 2021 estimated in export price. The total production indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +69.7% against 2015 indices. The most prominent rate of growth was recorded in 2020 with an increase of 44% against the previous year. As a result, production reached the peak level of $X, and then reduced dramatically in the following year.

Hand Tools Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of hand tools increased by 37% to X tons, rising for the fourth year in a row after three years of decline. Over the period under review, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, hand tools exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +1.9% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Brazil (X tons) and Mexico (X tons) were the key exporters of hand tools in Latin America and the Caribbean, together making up 75% of total exports. It was distantly followed by Colombia (X tons) and El Salvador (X tons), together mixing up a 21% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Brazil (with a CAGR of +5.5%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Mexico ($X) remains the largest hand tools supplier in Latin America and the Caribbean, comprising 59% of total exports. The second position in the ranking was held by Brazil ($X), with a 25% share of total exports. It was followed by Colombia, with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Mexico totaled +5.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (+1.3% per year) and Colombia (-2.9% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, falling by -9.4% against the previous year. Over the last nine years, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2015 when the export price increased by 28% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+7.8%), while the other leaders experienced mixed trends in the export price figures.

Hand Tools Imports

Imports in Latin America and the Caribbean

After two years of decline, supplies from abroad of hand tools increased by 42% to X tons in 2021. The total import volume increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, hand tools imports surged to $X in 2021. The total import value increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern 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.

Imports by Country

Brazil (X tons), Chile (X tons) and Mexico (X tons) represented roughly 50% of total imports in 2021. Colombia (X tons) held the next position in the ranking, followed by Peru (X tons) and Bolivia (X tons). All these countries together held near 19% share of total imports. Argentina (X tons), Guatemala (X tons), Ecuador (X tons), El Salvador (X tons), Honduras (X tons), Costa Rica (X tons) and Panama (X tons) took a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for El Salvador (with a CAGR of +17.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Brazil ($X) and Chile ($X) constituted the countries with the highest levels of imports in 2021, with a combined 57% share of total imports. These countries were followed by Peru, Colombia, Argentina, Guatemala, Ecuador, El Salvador, Costa Rica, Panama, Bolivia and Honduras, which together accounted for a further 32%.

Among the main importing countries, El Salvador, with a CAGR of +15.2%, recorded the highest growth rate of 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

The import price in Latin America and the Caribbean stood at $X per ton in 2021, stabilizing at the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 4.1% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Mexico ($X per ton), while Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+4.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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