Latin America and the Caribbean: Fishing Rod Market 2024

Fishing Rod Market Size in Latin America and the Caribbean

The Latin American fishing rod market was finally on the rise to reach $X in 2021, after three years of decline. The market value increased at an average annual rate of +1.1% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Fishing Rod Production in Latin America and the Caribbean

In value terms, fishing rod production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when the production volume increased by 15%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Fishing Rod Exports

Exports in Latin America and the Caribbean

In 2021, the amount of fishing rods and other line fishing tackle exported in Latin America and the Caribbean soared to X tons, picking up by 21% against 2020 figures. Total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +8.1% 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 +101.8% against 2014 indices. The growth pace was the most rapid in 2020 when exports increased by 28% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, fishing rod exports soared to $X in 2021. In general, exports posted a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, El Salvador (X tons) represented the key exporter of fishing rods and other line fishing tackle, mixing up 51% of total exports. It was distantly followed by Mexico (X tons), Costa Rica (X tons), Guatemala (X tons) and Paraguay (X tons), together mixing up a 42% share of total exports. The Dominican Republic (X tons) and Haiti (X tons) held a little share of total exports.

Exports from El Salvador increased at an average annual rate of +9.5% from 2012 to 2021. At the same time, Costa Rica (+40.4%), Guatemala (+32.7%), Paraguay (+11.5%), the Dominican Republic (+7.6%) and Haiti (+7.1%) 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 +40.4% from 2012-2021. By contrast, Mexico (-1.7%) illustrated a downward trend over the same period. Costa Rica (+13 p.p.), Guatemala (+7.7 p.p.) and El Salvador (+5.7 p.p.) significantly strengthened its position in terms of the total exports, while Mexico saw its share reduced by -19.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest fishing rod supplying countries in Latin America and the Caribbean were Mexico ($X), Costa Rica ($X) and Guatemala ($X), with a combined 73% share of total exports.

In terms of the main exporting countries, Guatemala, with a CAGR of +46.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, surging by 5.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.8%. The most prominent rate of growth was recorded in 2014 when the export price increased by 21%. The level of export peaked at $X per ton in 2019; however, from 2020 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 ($X per ton), while El Salvador ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+10.1%), while the other leaders experienced more modest paces of growth.

Fishing Rod Imports

Imports in Latin America and the Caribbean

Fishing rod imports soared to X tons in 2021, with an increase of 32% on the previous year's figure. In general, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, fishing rod imports soared to $X in 2021. The total import value increased at an average annual rate of +1.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Brazil was the largest importing country with an import of about X tons, which resulted at 29% of total imports. Argentina (X tons) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by Paraguay (9.6%), the Dominican Republic (8%), Mexico (7.4%), Chile (5.3%), Guatemala (4.8%) and Costa Rica (4.5%). The following importers - Panama (X tons), Colombia (X tons), Peru (X tons), Ecuador (X tons) and Uruguay (X tons) - together made up 11% of total imports.

From 2012 to 2021, average annual rates of growth with regard to fishing rod imports into Brazil stood at +2.3%. At the same time, Guatemala (+18.2%), the Dominican Republic (+11.3%), Chile (+8.0%), Peru (+7.3%), Ecuador (+7.0%), Costa Rica (+4.8%), Mexico (+2.5%) and Colombia (+1.9%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +18.2% from 2012-2021. Panama experienced a relatively flat trend pattern. By contrast, Argentina (-2.4%), Uruguay (-6.3%) and Paraguay (-11.5%) illustrated a downward trend over the same period. Brazil (+7.3 p.p.), the Dominican Republic (+5.2 p.p.), Guatemala (+3.8 p.p.), Chile (+2.8 p.p.), Mexico (+1.9 p.p.) and Costa Rica (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Argentina and Paraguay saw its share reduced by -1.7% and -17% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X), the Dominican Republic ($X) and Argentina ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 41% of total imports. These countries were followed by Chile, Mexico, Guatemala, Paraguay, Costa Rica, Colombia, Panama, Peru, Uruguay and Ecuador, which together accounted for a further 51%.

Guatemala, with a CAGR of +27.1%, saw the highest growth rate of the value of imports, among the main importing countries 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, growing by 7.7% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2017 when the import price increased by 11% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+7.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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