Latin America and the Caribbean: Non-Electrical Lamp Market 2024

Non-Electrical Lamp Market Size in Latin America and the Caribbean

The Latin American non-electrical lamp market totaled $X in 2021, surging by 3.6% against the previous year. The total consumption indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +54.7% against 2013 indices. Over the period under review, the market hit record highs in 2021 and is likely to see gradual growth in the near future.

Non-Electrical Lamp Production in Latin America and the Caribbean

In value terms, non-electrical lamp production reduced to $X in 2021 estimated in export price. The total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.5% 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 +96.3% against 2013 indices. The pace of growth appeared the most rapid in 2017 with an increase of 28%. Over the period under review, production attained the peak level at $X in 2020, and then reduced modestly in the following year.

Non-Electrical Lamp Exports

Exports in Latin America and the Caribbean

For the fifth year in a row, LatAmerica and the Caribbean recorded decline in shipments abroad of non-electrical lamps and lighting fittings, which decreased by -38.8% to X units in 2021. Over the period under review, exports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2014 when exports increased by 42% against the previous year. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, non-electrical lamp exports shrank significantly to $X in 2021. Overall, exports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2014 with an increase of 43%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Mexico (X units) and Colombia (X units) prevails in exports structure, together making up 74% of total exports. It was distantly followed by Panama (X units), making up a 9.6% share of total exports. Guatemala (X units), Peru (X units), Brazil (X units) and Cayman Islands (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Cayman Islands (with a CAGR of +28.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest non-electrical lamp supplying countries in Latin America and the Caribbean were Mexico ($X), Colombia ($X) and Panama ($X), with a combined 88% share of total exports.

In terms of the main exporting countries, Colombia, with a CAGR of +24.7%, saw the highest rates of growth with regard to 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

The export price in Latin America and the Caribbean stood at $X per unit in 2021, surging by 8.1% against the previous year. Overall, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the export price increased by 21% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit 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, amid the top suppliers, the country with the highest price was Brazil ($X per unit), while Guatemala ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+7.3%), while the other leaders experienced more modest paces of growth.

Non-Electrical Lamp Imports

Imports in Latin America and the Caribbean

In 2021, supplies from abroad of non-electrical lamps and lighting fittings was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, saw a deep reduction. The volume of import peaked at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, non-electrical lamp imports skyrocketed to $X in 2021. In general, imports, however, recorded a pronounced descent. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of non-electrical lamp imports in 2021 were Brazil (X units), Mexico (X units), Chile (X units) and Argentina (X units), together finishing at 55% of total import. It was distantly followed by Guyana (X units), Colombia (X units) and Belize (X units), together achieving a 17% share of total imports. Panama (X units), Costa Rica (X units), Guatemala (X units), Peru (X units), Trinidad and Tobago (X units) and Uruguay (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Belize (with a CAGR of +35.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Chile ($X) and Brazil ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 46% of total imports. Argentina, Colombia, Panama, Guyana, Trinidad and Tobago, Peru, Costa Rica, Guatemala, Uruguay and Belize lagged somewhat behind, together comprising a further 38%.

In terms of the main importing countries, Belize, with a CAGR of +30.6%, 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

In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, approximately equating the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2016 an increase of 10% against the previous year. The level of import peaked at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Trinidad and Tobago ($X per unit), while Belize ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+7.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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