Peru: Market for Household Washing and Drying Machines 2024

Market Size for Household Washing and Drying Machines in Peru

In 2021, the Peruvian washing and drying machine market increased by 31% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, continues to indicate a abrupt descent. Washing and drying machine consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Exports of Household Washing and Drying Machines

Exports from Peru

In 2021, after two years of growth, there was significant decline in overseas shipments of household washing and drying machines, when their volume decreased by -83.4% to X kg. Over the period under review, exports faced a dramatic decline. The growth pace was the most rapid in 2017 with an increase of 329% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, washing and drying machine exports shrank significantly to $X in 2021. In general, exports faced a sharp reduction. The pace of growth appeared the most rapid in 2017 with an increase of 484% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Chile (X kg) was the main destination for washing and drying machine exports from Peru, with a 52% share of total exports. Moreover, washing and drying machine exports to Chile exceeded the volume sent to the second major destination, Costa Rica (X kg), twofold. Guatemala (X kg) ranked third in terms of total exports with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Chile stood at +9.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+11.0% per year) and Guatemala (-1.2% per year).

In value terms, Chile ($X) emerged as the key foreign market for household washing and drying machines exports from Peru, comprising 49% of total exports. The second position in the ranking was taken by Costa Rica ($X), with a 22% share of total exports. It was followed by Ecuador, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to Chile stood at +9.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+17.7% per year) and Ecuador (-6.4% per year).

Export Prices by Country

In 2021, the average washing and drying machine export price amounted to $X per ton, waning by -9.8% against the previous year. Overall, the export price showed a perceptible slump. The most prominent rate of growth was recorded in 2019 when the average export price increased by 61% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Ecuador ($X per ton), while the average price for exports to Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Costa Rica (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Household Washing and Drying Machines

Imports into Peru

In 2021, overseas purchases of household washing and drying machines increased by 17% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when imports increased by 101% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, washing and drying machine imports skyrocketed to $X in 2021. Over the period under review, imports, however, continue to indicate a abrupt decrease. The growth pace was the most rapid in 2017 with an increase of 116% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest washing and drying machine supplier to Peru, accounting for a 79% share of total imports. Moreover, washing and drying machine imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), more than tenfold. South Korea (X tons) ranked third in terms of total imports with a 2.4% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+1,500.7% per year) and South Korea (+14.8% per year).

In value terms, China ($X) constituted the largest supplier of household washing and drying machines to Peru, comprising 75% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 4% share of total imports. It was followed by South Korea, with a 3.7% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to -9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+694.9% per year) and South Korea (+11.2% per year).

Import Prices by Country

The average washing and drying machine import price stood at $X per ton in 2021, increasing by 13% against the previous year. Overall, the import price, however, recorded a mild reduction. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was South Korea ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+5.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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