Peru: Golf Equipment Market 2024

Golf Equipment Market Size in Peru

After three years of decline, the Peruvian golf equipment market increased by 110% to $X in 2022. Over the period under review, consumption, however, saw a abrupt slump. Golf equipment consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Golf Equipment Exports

Exports from Peru

In 2022, the amount of golf clubs and other golf equipment exported from Peru reduced to X units, shrinking by -10.3% against the year before. Overall, exports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of 292% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, golf equipment exports declined to $X in 2022. Over the period under review, total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.4% 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 +9.1% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 182%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Colombia (X units) was the main destination for golf equipment exports from Peru, accounting for a 84% share of total exports. Moreover, golf equipment exports to Colombia exceeded the volume sent to the second major destination, Chile (X units), tenfold. Guatemala (X units) ranked third in terms of total exports with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Colombia stood at +5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+13.6% per year) and Guatemala (+14.3% per year).

In value terms, Colombia ($X) remains the key foreign market for golf clubs and other golf equipment exports from Peru, comprising 78% of total exports. The second position in the ranking was held by Chile ($X), with a 13% share of total exports. It was followed by Honduras, with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Colombia stood at +5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+9.5% per year) and Honduras (+49.8% per year).

Export Prices by Country

The average golf equipment export price stood at $X per unit in 2022, surging by 2.9% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 12% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Honduras ($X per unit), while the average price for exports to Guatemala ($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 Honduras (+16.8%), while the prices for the other major destinations experienced mixed trend patterns.

Golf Equipment Imports

Imports into Peru

In 2022, overseas purchases of golf clubs and other golf equipment increased by 80% to X units for the first time since 2018, thus ending a three-year declining trend. Overall, imports, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2018 when imports increased by 116% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, golf equipment imports soared to $X in 2022. In general, imports, however, continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2017 with an increase of 76% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest golf equipment supplier to Peru, accounting for a 63% share of total imports. Moreover, golf equipment imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), sixfold. Pakistan (X units) ranked third in terms of total imports with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -19.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-20.3% per year) and Pakistan (+22.8% per year).

In value terms, China ($X), the United States ($X) and Panama ($X) were the largest golf equipment suppliers to Peru, together accounting for 61% of total imports. Pakistan, Chile, Sweden, India, Indonesia and Guatemala lagged somewhat behind, together comprising a further 22%.

In terms of the main suppliers, Pakistan, with a CAGR of +42.1%, 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 golf equipment import price amounted to $X per unit, shrinking by -20.3% against the previous year. Overall, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, golf equipment import price increased by +9.5% against 2020 indices. The growth pace was the most rapid in 2016 when the average import price increased by 70% against the previous year. The import price peaked at $X per unit in 2017; however, from 2018 to 2022, import prices stood at a somewhat 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 Panama ($X per unit), while the price for Guatemala ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+15.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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