Paraguay: Boring Machinery Market 2024

Boring Machinery Market Size in Paraguay

The Paraguayan boring machinery market expanded modestly to $X in 2022, growing by 3.6% against the previous year. In general, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.0% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Boring Machinery Production in Paraguay

In value terms, boring machinery production rose rapidly to $X in 2022 estimated in export price. Overall, the total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 -5.7% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 66% against the previous year. Boring machinery production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Boring Machinery Exports

Exports from Paraguay

In 2022, the amount of boring or sinking machinery exported from Paraguay totaled X units, approximately equating 2021. In general, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when exports increased by 200% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, boring machinery exports surged to $X in 2022. Over the period under review, exports showed a drastic downturn. The most prominent rate of growth was recorded in 2014 with an increase of 190%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Guyana (X units) was the main destination for boring machinery exports from Paraguay, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Guyana was relatively modest.

In value terms, Guyana ($X) emerged as the key foreign market for boring or sinking machinery exports from Paraguay, comprising 92% of total exports. The second position in the ranking was taken by Uruguay ($X), with an 8.5% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Guyana was relatively modest.

Export Prices by Country

The average boring machinery export price stood at $X per unit in 2022, reducing by -12.9% against the previous year. Over the period under review, the export price recorded a deep reduction. The most prominent rate of growth was recorded in 2018 an increase of 409% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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 Uruguay ($X per unit), while the average price for exports to Guyana totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Uruguay (+135.6%).

Boring Machinery Imports

Imports into Paraguay

In 2022, after three years of growth, there was significant decline in supplies from abroad of boring or sinking machinery, when their volume decreased by -16.7% to X units. Over the period under review, imports, however, showed a tangible increase. The growth pace was the most rapid in 2019 when imports increased by 500% against the previous year. Imports peaked at X units in 2021, and then contracted sharply in the following year.

In value terms, boring machinery imports shrank dramatically to $X in 2022. In general, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2019 with an increase of 120%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Spain (X units) constituted the largest supplier of boring machinery to Paraguay, with a 73% share of total imports. Moreover, boring machinery imports from Spain exceeded the figures recorded by the second-largest supplier, Brazil (X units), fourfold.

From 2012 to 2022, the average annual growth rate of volume from Spain stood at +27.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+4.1% per year) and China (-6.7% per year).

In value terms, Brazil ($X) constituted the largest supplier of boring or sinking machinery to Paraguay, comprising 59% of total imports. The second position in the ranking was taken by China ($X), with an 18% share of total imports. It was followed by Spain, with a 14% share.

From 2012 to 2022, the average annual growth rate of value from Brazil amounted to -4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-2.5% per year) and Spain (+1.9% per year).

Import Prices by Country

In 2022, the average boring machinery import price amounted to $X per unit, with a decrease of -53% against the previous year. In general, the import price saw a deep reduction. The most prominent rate of growth was recorded in 2014 when the average import price increased by 54% against the previous year. The import price 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 supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform