Paraguay: Mobile Phone Market 2024

Mobile Phone Market Size in Paraguay

In 2022, the Paraguayan mobile phone market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, recorded a prominent expansion. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Mobile Phone Exports

Exports from Paraguay

Mobile phone exports from Paraguay declined remarkably to X units in 2022, with a decrease of -20.4% against 2021 figures. Overall, exports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 310% against the previous year. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, mobile phone exports reduced modestly to $X in 2022. Over the period under review, exports, however, showed resilient growth. The growth pace was the most rapid in 2020 with an increase of 371%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X units), Brazil (X units) and the United Arab Emirates (X units) were the main destinations of mobile phone exports from Paraguay, together comprising 87% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +1,478.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for mobile phone exported from Paraguay were the United States ($X), Brazil ($X) and the United Arab Emirates ($X), together accounting for 88% of total exports.

In terms of the main countries of destination, the United Arab Emirates, with a CAGR of +1,574.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average mobile phone export price stood at $X per unit in 2022, growing by 25% against the previous year. Over the period under review, export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mobile phone export price increased by +77.1% against 2017 indices. The most prominent rate of growth was recorded in 2018 an increase of 38%. The export price peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United Arab Emirates ($X per unit) and the United States ($X per unit), while the average price for exports to Guyana ($X per unit) and Spain ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Mobile Phone Imports

Imports into Paraguay

For the third year in a row, Paraguay recorded decline in overseas purchases of mobile phones, which decreased by -10.1% to X units in 2022. Over the period under review, imports, however, posted a temperate increase. The most prominent rate of growth was recorded in 2019 when imports increased by 142% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, mobile phone imports totaled $X in 2022. Overall, imports, however, saw resilient growth. The most prominent rate of growth was recorded in 2019 with an increase of 121%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) was the main supplier of mobile phone to Paraguay, with a 91% share of total imports. Moreover, mobile phone imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+32.3% per year) and the United States (-11.8% per year).

In value terms, China ($X) constituted the largest supplier of mobile phones to Paraguay, comprising 91% of total imports. The second position in the ranking was held by Vietnam ($X), with an 8.2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+38.7% per year) and the United States (-7.3% per year).

Import Prices by Country

In 2022, the average mobile phone import price amounted to $X per unit, picking up by 19% against the previous year. Over the period under review, import price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mobile phone import price increased by +61.3% against 2015 indices. The most prominent rate of growth was recorded in 2018 an increase of 21% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform