Latin America and the Caribbean: Household Sewing Machine Market 2024

Household Sewing Machine Market Size in Latin America and the Caribbean

The Latin American household sewing machine market surged to $X in 2021, with an increase of 37% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Household Sewing Machine Production in Latin America and the Caribbean

In value terms, household sewing machine production reduced markedly to $X in 2021 estimated in export price. Overall, production saw a abrupt setback. The most prominent rate of growth was recorded in 2017 when the production volume increased by 64%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Household Sewing Machine Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of household sewing machines was finally on the rise to reach X units after two years of decline. Overall, exports, however, continue to indicate a significant decline. The most prominent rate of growth was recorded in 2016 when exports increased by 67% against the previous year. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, household sewing machine exports surged to $X in 2021. In general, exports, however, recorded a sharp slump. The pace of growth appeared the most rapid in 2018 with an increase of 53% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Panama (X units) was the key exporter of household sewing machines, generating 44% of total exports. It was distantly followed by Chile (X units), Mexico (X units), Venezuela (X units) and Guatemala (X units), together creating a 40% share of total exports. The following exporters - Uruguay (X units) and Brazil (X units) - each finished at a 7.9% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to household sewing machine exports from Panama stood at -15.4%. At the same time, Guatemala (+19.4%), Mexico (+9.5%) and Venezuela (+5.7%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +19.4% from 2012-2021. By contrast, Chile (-6.0%), Uruguay (-14.0%) and Brazil (-45.8%) illustrated a downward trend over the same period. While the share of Panama (+28 p.p.), Mexico (+13 p.p.), Chile (+12 p.p.), Venezuela (+6.7 p.p.), Guatemala (+5 p.p.) and Uruguay (+2.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Brazil (-73.3 p.p.) displayed negative dynamics.

In value terms, the largest household sewing machine supplying countries in Latin America and the Caribbean were Chile ($X), Panama ($X) and Mexico ($X), with a combined 84% share of total exports. Guatemala, Brazil, Uruguay and Venezuela lagged somewhat behind, together comprising a further 12%.

Guatemala, with a CAGR of +26.8%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2021, surging by 6.8% against the previous year. Export price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, household sewing machine export price increased by +49.9% against 2019 indices. The pace of growth was the most pronounced in 2020 when the export price increased by 40%. Over the period under review, the export prices reached the maximum in 2021 and is likely to see gradual growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uruguay (+7.9%), while the other leaders experienced more modest paces of growth.

Household Sewing Machine Imports

Imports in Latin America and the Caribbean

In 2021, supplies from abroad of household sewing machines increased by 22% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 34% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, household sewing machine imports soared to $X in 2021. Overall, imports recorded a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico (X units) and Brazil (X units) represented the largest importers of household sewing machines in 2021, accounting for near 30% and 26% of total imports, respectively. Chile (X units) ranks next in terms of the total imports with a 13% share, followed by Argentina (7.4%), Peru (6.3%) and Colombia (5.9%). Ecuador (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Peru (with a CAGR of +9.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Chile ($X) and Mexico ($X) were the countries with the highest levels of imports in 2021, with a combined 55% share of total imports. Argentina, Colombia, Peru and Ecuador lagged somewhat behind, together comprising a further 23%.

In terms of the main importing countries, Peru, with a CAGR of +6.6%, recorded 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

The import price in Latin America and the Caribbean stood at $X per unit in 2021, rising by 21% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The level of import peaked at $X per unit in 2013; however, from 2014 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 Argentina ($X per unit), while Mexico ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+4.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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