Latin America and the Caribbean: Bracelet Market 2024

Bracelet Market Size in Latin America and the Caribbean

The Latin American bracelet market fell to $X in 2022, approximately reflecting the previous year. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X, leveling off in the following year.

Bracelet Production in Latin America and the Caribbean

In value terms, bracelet production dropped to $X in 2022 estimated in export price. In general, production, however, saw a slight contraction. The pace of growth was the most pronounced in 2014 when the production volume increased by 43%. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Bracelet Exports

Exports in Latin America and the Caribbean

In 2022, approx. X units of watch straps, bands and bracelets were exported in Latin America and the Caribbean; growing by 110% compared with the previous year. In general, exports enjoyed a resilient increase. The volume of export peaked at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, bracelet exports soared to $X in 2022. Total exports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +2.6% 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 -25.2% against 2019 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 56% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Panama prevails in exports structure, amounting to X units, which was near 80% of total exports in 2022. It was distantly followed by Peru (X units), generating a 5.5% share of total exports. Brazil (X units), Uruguay (X units) and Guatemala (X units) took a relatively small share of total exports.

Exports from Panama increased at an average annual rate of +14.6% from 2012 to 2022. At the same time, Guatemala (+59.7%), Peru (+13.6%), Uruguay (+8.0%) and Brazil (+2.5%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +59.7% from 2012-2022. From 2012 to 2022, the share of Panama, Guatemala and Peru increased by +34, +2.5 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Panama ($X) remains the largest bracelet supplier in Latin America and the Caribbean, comprising 51% of total exports. The second position in the ranking was taken by Brazil ($X), with an 18% share of total exports. It was followed by Peru, with a 3.1% share.

From 2012 to 2022, the average annual growth rate of value in Panama amounted to +15.3%. In the other countries, the average annual rates were as follows: Brazil (+6.7% per year) and Peru (+12.2% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, with a decrease of -28.4% against the previous year. In general, the export price saw a abrupt descent. The growth pace was the most rapid in 2017 an increase of 49%. As a result, the export price attained the peak level of $X per unit. From 2018 to 2022, the export prices remained at a lower figure.

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 Brazil ($X per unit), while Guatemala ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+16.6%), while the other leaders experienced more modest paces of growth.

Bracelet Imports

Imports in Latin America and the Caribbean

In 2022, bracelet imports in Latin America and the Caribbean dropped to X units, declining by -14% against 2021. Overall, imports showed a slight decrease. The most prominent rate of growth was recorded in 2021 with an increase of 83%. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, bracelet imports rose notably to $X in 2022. Over the period under review, imports showed a perceptible curtailment. The pace of growth was the most pronounced in 2021 when imports increased by 21% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Brazil was the key importing country with an import of about X units, which amounted to 39% of total imports. Mexico (X units) took the second position in the ranking, followed by Chile (X units), Colombia (X units), Bolivia (X units) and Guatemala (X units). All these countries together took near 36% share of total imports. The following importers - Argentina (X units), Costa Rica (X units), Paraguay (X units), Peru (X units) and El Salvador (X units) - together made up 14% of total imports.

Imports into Brazil decreased at an average annual rate of -4.4% from 2012 to 2022. At the same time, Costa Rica (+22.3%), El Salvador (+20.9%), Bolivia (+16.9%), Guatemala (+14.8%), Argentina (+12.5%), Chile (+11.0%), Mexico (+8.9%), Colombia (+6.7%) and Peru (+6.1%) displayed positive paces of growth. Moreover, Costa Rica emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +22.3% from 2012-2022. By contrast, Paraguay (-16.9%) illustrated a downward trend over the same period. Mexico (+8.7 p.p.), Chile (+4.7 p.p.), Bolivia (+4.3 p.p.), Guatemala (+3.7 p.p.), Colombia (+3.5 p.p.), Argentina (+3.2 p.p.), Costa Rica (+2.7 p.p.) and El Salvador (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Brazil and Paraguay saw its share reduced by -11.7% and -12.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported watch straps, bands and bracelets in Latin America and the Caribbean, comprising 56% of total imports. The second position in the ranking was held by Mexico ($X), with a 9.5% share of total imports. It was followed by Chile, with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil amounted to -6.0%. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (-3.4% per year) and Chile (+5.1% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, picking up by 28% against the previous year. In general, the import price, however, saw a noticeable slump. The pace of growth was the most pronounced in 2013 an increase of 43% against the previous year. The level of import peaked at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per unit), while Bolivia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Paraguay (+13.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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