Mexico: Radio Receiver Market 2025

Radio Receiver Market Size in Mexico

After four years of growth, the Mexican radio receiver market decreased by -2.4% to $X in 2022. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2021, and then shrank modestly in the following year.

Radio Receiver Production in Mexico

In value terms, radio receiver production dropped to $X in 2022 estimated in export price. Overall, production, however, recorded pronounced growth. The pace of growth was the most pronounced in 2018 when the production volume increased by 276%. Radio receiver production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Radio Receiver Exports

Exports from Mexico

In 2022, after two years of decline, there was significant growth in shipments abroad of radio receivers, when their volume increased by 7.6% to X units. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 74% against the previous year. As a result, the exports attained the peak of X units. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, radio receiver exports expanded notably to $X in 2022. The total export value increased at an average annual rate of +4.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when exports increased by 30% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for radio receiver exports from Mexico, accounting for a 92% share of total exports. Moreover, radio receiver exports to the United States exceeded the volume sent to the second major destination, Brazil (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+5.8% per year) and Japan (+55.1% per year).

In value terms, the United States ($X) remains the key foreign market for radio receivers exports from Mexico, comprising 88% of total exports. The second position in the ranking was taken by Japan ($X), with a 7.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +3.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+53.8% per year) and Brazil (+10.3% per year).

Export Prices by Country

In 2022, the average radio receiver export price amounted to $X per unit, approximately equating the previous year. Overall, export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, radio receiver export price increased by +47.3% against 2020 indices. The pace of growth appeared the most rapid in 2017 an increase of 56% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+4.3%), while the prices for the other major destinations experienced mixed trend patterns.

Radio Receiver Imports

Imports into Mexico

In 2022, approx. X units of radio receivers were imported into Mexico; which is down by -12.7% against 2021 figures. In general, imports saw a deep reduction. The most prominent rate of growth was recorded in 2015 with an increase of 27%. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, radio receiver imports surged to $X in 2022. Overall, imports recorded a perceptible decline. The most prominent rate of growth was recorded in 2015 when imports increased by 22% against the previous year. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of radio receiver to Mexico, with a 78% share of total imports. Moreover, radio receiver imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), sixfold. Hungary (X units) ranked third in terms of total imports with a 2.9% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-8.7% per year) and Hungary (+76.2% per year).

In value terms, the largest radio receiver suppliers to Mexico were the United States ($X), China ($X) and Hungary ($X), with a combined 83% share of total imports.

In terms of the main suppliers, Hungary, with a CAGR of +106.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average radio receiver import price amounted to $X per unit, rising by 32% against the previous year. Over the period under review, the import price continues to indicate tangible growth. The pace of growth was the most pronounced in 2019 when the average import price increased by 70%. The import price peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hungary ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+17.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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