Latin America and the Caribbean: Water-Skis And Surfboards Market 2024

Water-Skis And Surfboards Market Size in Latin America and the Caribbean

The Latin American water-skis and surfboards market rose markedly to $X in 2022, increasing by 7.5% against the previous year. The total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +68.5% against 2013 indices. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Water-Skis And Surfboards Production in Latin America and the Caribbean

In value terms, water-skis and surfboards production reached $X in 2022 estimated in export price. The total production indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.3% against 2020 indices. The growth pace was the most rapid in 2017 when the production volume increased by 19%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Water-Skis And Surfboards Exports

Exports in Latin America and the Caribbean

Water-skis and surfboards exports dropped to X units in 2022, which is down by -5.7% compared with the year before. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 83%. The volume of export peaked at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, water-skis and surfboards exports expanded markedly to $X in 2022. The total export value increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 51%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

Exports by Country

In 2022, Mexico (X units) was the largest exporter of water-skis, surfboards and sailboards, mixing up 67% of total exports. Brazil (X units) held the second position in the ranking, distantly followed by Peru (X units). All these countries together took approx. 22% share of total exports. The Dominican Republic (X units), Panama (X units) and Costa Rica (X units) took a little share of total exports.

Mexico experienced a relatively flat trend pattern with regard to volume of exports of water-skis, surfboards and sailboards. At the same time, Costa Rica (+22.5%), Brazil (+22.0%) and the Dominican Republic (+21.1%) displayed positive paces of growth. Moreover, Costa Rica emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +22.5% from 2012-2022. By contrast, Peru (-2.8%) and Panama (-17.8%) illustrated a downward trend over the same period. While the share of Brazil (+14 p.p.), the Dominican Republic (+3 p.p.) and Costa Rica (+2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Panama (-16.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest water-skis and surfboards supplier in Latin America and the Caribbean, comprising 73% of total exports. The second position in the ranking was taken by Brazil ($X), with a 14% share of total exports. It was followed by Peru, with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico stood at +1.6%. In the other countries, the average annual rates were as follows: Brazil (+21.8% per year) and Peru (-0.4% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, rising by 20% against the previous year. Export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, water-skis and surfboards export price decreased by -19.3% against 2019 indices. The pace of growth appeared the most rapid in 2015 an increase of 23% against the previous year. The level of export peaked at $X per unit in 2019; however, from 2020 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 Peru ($X per unit), while Costa Rica ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+2.5%), while the other leaders experienced mixed trends in the export price figures.

Water-Skis And Surfboards Imports

Imports in Latin America and the Caribbean

In 2022, purchases abroad of water-skis, surfboards and sailboards increased by 18% to X units, rising for the second consecutive year after three years of decline. Total imports indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +100.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 69% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, water-skis and surfboards imports surged to $X in 2022. Total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +105.1% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 78%. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Imports by Country

Argentina (X units) and Mexico (X units) represented roughly 35% of total imports in 2022. Brazil (X units) held a 9.4% share (based on physical terms) of total imports, which put it in second place, followed by Chile (9.3%), Colombia (6.5%) and the Dominican Republic (5.5%). The following importers - Costa Rica (X units), Uruguay (X units), Peru (X units), Bolivia (X units), Jamaica (X units), Guatemala (X units) and Panama (X units) - together made up 22% of total imports.

From 2012 to 2022, the biggest increases were recorded for the Dominican Republic (with a CAGR of +28.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Chile ($X) and Argentina ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 50% of total imports. Brazil, Colombia, the Dominican Republic, Uruguay, Peru, Costa Rica, Panama, Guatemala, Jamaica and Bolivia lagged somewhat behind, together accounting for a further 35%.

The Dominican Republic, with a CAGR of +21.7%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, waning by -2.4% against the previous year. Over the last decade, it increased at an average annual rate of +4.0%. The most prominent rate of growth was recorded in 2015 an increase of 20%. Over the period under review, import prices reached the maximum at $X per unit in 2016; however, from 2017 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 Chile ($X per unit), while Bolivia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+12.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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