Latin America and the Caribbean: Data Storage Device Market 2024

Data Storage Device Market Size in Latin America and the Caribbean

The Latin American data storage device market contracted to $X in 2022, almost unchanged from the previous year. Over the period under review, consumption saw a perceptible shrinkage. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Data Storage Device Production in Latin America and the Caribbean

In value terms, data storage device production declined slightly to $X in 2022 estimated in export price. In general, production showed a sharp decrease. The most prominent rate of growth was recorded in 2018 with an increase of 53% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Data Storage Device Exports

Exports in Latin America and the Caribbean

In 2022, the amount of data storage devices exported in Latin America and the Caribbean surged to X units, picking up by 50% against the previous year. Total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -6.0% against 2020 indices. The volume of export peaked at X units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, data storage device exports stood at $X in 2022. The total export value increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 with an increase of 19% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the one major exporters of data storage devices, namely Mexico, represented more than two-thirds of total export.

Mexico was also the fastest-growing in terms of the data storage devices exports, with a CAGR of +5.8% from 2012 to 2022. While the share of Mexico (+4 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) also remains the largest data storage device supplier in Latin America and the Caribbean.

From 2012 to 2022, the average annual growth rate of value in Mexico totaled +3.5%.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, falling by -32.9% against the previous year. Overall, the export price showed a slight decline. The pace of growth was the most pronounced in 2021 an increase of 59% against the previous year. As a result, the export price attained the peak level of $X per unit, and then reduced rapidly in the following year.

As there is only one major export destination, the average price level is determined by prices for Mexico.

From 2012 to 2022, the rate of growth in terms of prices for Mexico amounted to -2.2% per year.

Data Storage Device Imports

Imports in Latin America and the Caribbean

In 2022, overseas purchases of data storage devices were finally on the rise to reach X units after three years of decline. Over the period under review, imports, however, showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 5.2%. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, data storage device imports surged to $X in 2022. The total import value increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Mexico represented the major importing country with an import of around X units, which accounted for 66% of total imports. Brazil (X units) held the second position in the ranking, followed by Argentina (X units) and Chile (X units). All these countries together took approx. 25% share of total imports. The following importers - Peru (X units) and Ecuador (X units) - together made up 5.4% of total imports.

Imports into Mexico decreased at an average annual rate of -2.0% from 2012 to 2022. At the same time, Ecuador (+11.1%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +11.1% from 2012-2022. Chile experienced a relatively flat trend pattern. By contrast, Argentina (-3.1%), Peru (-3.8%) and Brazil (-13.6%) illustrated a downward trend over the same period. While the share of Mexico (+16 p.p.) and Chile (+2.1 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Brazil (-20.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported data storage devices in Latin America and the Caribbean, comprising 86% of total imports. The second position in the ranking was taken by Brazil ($X), with a 5.3% share of total imports. It was followed by Argentina, with a 2.3% share.

In Mexico, data storage device imports expanded at an average annual rate of +6.0% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (-9.0% per year) and Argentina (-3.9% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2022, increasing by 15% against the previous year. Import price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +8.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, data storage device import price increased by +119.8% against 2012 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+8.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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