Latin America and the Caribbean: Metal Office Furniture Market 2024

Metal Office Furniture Market Size in Latin America and the Caribbean

After two years of decline, the Latin American metal office furniture market increased by 1.4% to $X in 2022. Over the period under review, consumption showed a noticeable reduction. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Metal Office Furniture Production in Latin America and the Caribbean

In value terms, metal office furniture production stood at $X in 2022 estimated in export price. Overall, production showed a perceptible shrinkage. The pace of growth was the most pronounced in 2019 with an increase of 11%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Metal Office Furniture Exports

Exports in Latin America and the Caribbean

After four years of decline, shipments abroad of metal office furniture increased by 18% to X tons in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, metal office furniture exports stood at $X in 2022. The total export value increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 18%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Mexico was the key exporter of metal office furniture in Latin America and the Caribbean, with the volume of exports accounting for X tons, which was approx. 77% of total exports in 2022. It was distantly followed by Guatemala (X tons), achieving a 13% share of total exports. The following exporters - Honduras (X tons) and Colombia (X tons) - each finished at a 4.7% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to metal office furniture exports from Mexico stood at +1.6%. At the same time, Guatemala (+10.1%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +10.1% from 2012-2022. By contrast, Honduras (-9.0%) and Colombia (-11.4%) illustrated a downward trend over the same period. Mexico (+12 p.p.) and Guatemala (+8.4 p.p.) significantly strengthened its position in terms of the total exports, while Honduras and Colombia saw its share reduced by -3.8% and -5.2% from 2012 to 2022, respectively.

In value terms, Mexico ($X) remains the largest metal office furniture supplier in Latin America and the Caribbean, comprising 88% of total exports. The second position in the ranking was held by Guatemala ($X), with a 6% share of total exports. It was followed by Colombia, with a 1.8% share.

From 2012 to 2022, the average annual growth rate of value in Mexico amounted to +3.4%. In the other countries, the average annual rates were as follows: Guatemala (+8.3% per year) and Colombia (-12.6% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, falling by -3.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2017 an increase of 13% against the previous year. The level of export peaked at $X per ton in 2021, and then contracted in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Honduras ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+1.8%), while the other leaders experienced mixed trends in the export price figures.

Metal Office Furniture Imports

Imports in Latin America and the Caribbean

In 2022, after two years of decline, there was significant growth in purchases abroad of metal office furniture, when their volume increased by 6.4% to X tons. Overall, imports, however, recorded a perceptible contraction. The pace of growth appeared the most rapid in 2017 when imports increased by 14%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, metal office furniture imports rose notably to $X in 2022. In general, imports, however, saw a perceptible downturn. The growth pace was the most rapid in 2017 with an increase of 12%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Mexico (X tons) and Chile (X tons) represented roughly 38% of total imports in 2022. Panama (X tons) held the next position in the ranking, followed by Peru (X tons), Costa Rica (X tons) and El Salvador (X tons). All these countries together took near 25% share of total imports. Jamaica (X tons), the Dominican Republic (X tons), Guatemala (X tons), Cuba (X tons), Honduras (X tons), Belize (X tons) and Trinidad and Tobago (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Belize (with a CAGR of +9.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest metal office furniture importing markets in Latin America and the Caribbean were Mexico ($X), Chile ($X) and Panama ($X), with a combined 46% share of total imports. Costa Rica, the Dominican Republic, Peru, El Salvador, Guatemala, Jamaica, Honduras, Belize, Cuba and Trinidad and Tobago lagged somewhat behind, together accounting for a further 35%.

Among the main importing countries, Belize, with a CAGR of +19.8%, 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 2022, picking up by 3.6% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 7.2%. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Dominican Republic ($X per ton), while Jamaica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belize (+9.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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