Latin America and the Caribbean: Mercury Market 2024

Mercury Market Size in Latin America and the Caribbean

In 2021, the Latin American mercury market decreased by -5.6% to $X, falling for the second consecutive year after five years of growth. The total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -7.0% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Mercury Production in Latin America and the Caribbean

In value terms, mercury production declined dramatically to $X in 2021 estimated in export price. Overall, production saw a perceptible reduction. The most prominent rate of growth was recorded in 2020 when the production volume increased by 77%. The level of production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Mercury Exports

Exports in Latin America and the Caribbean

For the third year in a row, LatAmerica and the Caribbean recorded decline in shipments abroad of mercuries, which decreased by -72.4% to X tons in 2021. Over the period under review, exports continue to indicate a significant decline. The most prominent rate of growth was recorded in 2018 when exports increased by 16% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, mercury exports fell rapidly to $X in 2021. In general, exports showed a dramatic contraction. The growth pace was the most rapid in 2020 when exports increased by 171% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Peru represented the main exporter of mercuries in Latin America and the Caribbean, with the volume of exports reaching X tons, which was near 60% of total exports in 2021. Panama (X tons) held the second position in the ranking, followed by Guatemala (X tons) and Argentina (X tons). All these countries together took near 40% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to mercury exports from Peru stood at -5.6%. At the same time, Guatemala (+67.6%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +67.6% from 2012-2021. By contrast, Argentina (-8.5%) and Panama (-22.7%) illustrated a downward trend over the same period. Peru (+55 p.p.), Guatemala (+13 p.p.), Argentina (+9.5 p.p.) and Panama (+8.9 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Peru ($X) remains the largest mercury supplier in Latin America and the Caribbean, comprising 76% of total exports. The second position in the ranking was taken by Guatemala ($X), with a 12% share of total exports. It was followed by Argentina, with a 9.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Peru totaled -5.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Guatemala (+77.5% per year) and Argentina (-21.8% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, dropping by -54.7% against the previous year. In general, the export price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2020 an increase of 247% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

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 Peru ($X per ton), while Panama ($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 (+5.9%), while the other leaders experienced mixed trends in the export price figures.

Mercury Imports

Imports in Latin America and the Caribbean

In 2021, purchases abroad of mercuries decreased by -15.8% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports showed a abrupt slump. The pace of growth was the most pronounced in 2016 when imports increased by 20%. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, mercury imports contracted to $X in 2021. In general, imports showed a deep contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 57% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Colombia (X tons) and Bolivia (X tons) prevails in imports structure, together mixing up 78% of total imports. Argentina (X tons) took a 6.5% share (based on physical terms) of total imports, which put it in second place, followed by Guyana (5.7%). Cuba (X tons), Peru (X tons) and Uruguay (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Bolivia (with a CAGR of +20.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Colombia ($X), Bolivia ($X) and Cuba ($X) constituted the countries with the highest levels of imports in 2021, together comprising 89% of total imports.

In terms of the main importing countries, Bolivia, with a CAGR of +27.1%, saw 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, surging by 8.9% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the import price increased by 41% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a 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 Cuba ($X per ton), while Guyana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cuba (+19.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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