MERCOSUR: Relay Market 2024

Relay Market Size in MERCOSUR

In 2022, the MERCOSUR relay market increased by 2.4% to $X, rising for the second year in a row after two years of decline. In general, consumption, however, saw a perceptible contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Relay Production in MERCOSUR

In value terms, relay production contracted slightly to $X in 2022 estimated in export price. In general, production showed a deep reduction. The pace of growth appeared the most rapid in 2015 when the production volume increased by 17% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Relay Exports

Exports in MERCOSUR

In 2022, shipments abroad of relays increased by 16% to X units, rising for the second year in a row after three years of decline. Total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +12.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +59.7% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 86%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, relay exports rose sharply to $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 48%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil (X units) represented roughly 98% of total exports in 2022.

Brazil was also the fastest-growing in terms of the relays exports, with a CAGR of +12.6% from 2012 to 2022. From 2012 to 2022, the share of Brazil increased by +5.2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) also remains the largest relay supplier in MERCOSUR.

In Brazil, relay exports remained relatively stable over the period from 2012-2022.

Export Prices by Country

The export price in MERCOSUR stood at $X per unit in 2022, waning by -2.7% against the previous year. In general, the export price recorded a abrupt downturn. The growth pace was the most rapid in 2021 when the export price increased by 8%. Over the period under review, the export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for Brazil amounted to -12.0% per year.

Relay Imports

Imports in MERCOSUR

In 2022, approx. X units of relays were imported in MERCOSUR; surging by 8.2% compared with the year before. In general, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 42%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, relay imports reached $X in 2022. Over the period under review, imports, however, continue to indicate a mild shrinkage. The growth pace was the most rapid in 2021 with an increase of 25%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Brazil (X units) was the major importer of relays, achieving 65% of total imports. Argentina (X units) took the second position in the ranking, followed by Colombia (X units) and Chile (X units). All these countries together held approx. 23% share of total imports. Paraguay (X units), Peru (X units) and Ecuador (X units) held a minor share of total imports.

Imports into Brazil increased at an average annual rate of +1.1% from 2012 to 2022. At the same time, Paraguay (+17.1%), Ecuador (+9.0%), Chile (+4.8%) and Colombia (+2.2%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +17.1% from 2012-2022. By contrast, Argentina (-1.2%) and Peru (-2.0%) illustrated a downward trend over the same period. Brazil (+3.2 p.p.), Paraguay (+2.9 p.p.) and Chile (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Argentina saw its share reduced by -2.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported relays in MERCOSUR, comprising 60% of total imports. The second position in the ranking was taken by Argentina ($X), with a 12% share of total imports. It was followed by Colombia, with an 8.6% share.

From 2012 to 2022, the average annual growth rate of value in Brazil was relatively modest. In the other countries, the average annual rates were as follows: Argentina (-2.1% per year) and Colombia (-0.7% per year).

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per unit, almost unchanged from the previous year. Overall, the import price saw a mild descent. The most prominent rate of growth was recorded in 2020 an increase of 26%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a 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 Peru ($X per unit), while Paraguay ($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 (-0.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform