Peru: Measuring Instrument Market 2022

Measuring Instrument Market Size in Peru

The Peruvian measuring instrument market surged to $X in 2021, growing by 19% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed a relatively flat trend pattern. Measuring instrument consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Measuring Instrument Exports

Exports from Peru

In 2021, exports of instruments and apparatus for measuring or checking the flow or level of liquids from Peru soared to X units, with an increase of 46% against the previous year's figure. Overall, exports posted a buoyant increase. The pace of growth was the most pronounced in 2013 when exports increased by 275% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, measuring instrument exports soared to $X in 2021. Over the period under review, exports, however, showed a perceptible decline. The growth pace was the most rapid in 2013 when exports increased by 230%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X units), Guatemala (X units) and Argentina (X units) were the main destinations of measuring instrument exports from Peru, with a combined 58% share of total exports. These countries were followed by Uruguay, Ecuador, Chile, Costa Rica, Bolivia, Colombia, Mexico and Free Zones, which together accounted for a further 34%.

From 2012 to 2021, the biggest increases were in Uruguay (with a CAGR of +113.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) emerged as the key foreign market for measuring instrument exports from Peru, comprising 59% of total exports. The second position in the ranking was taken by Ecuador ($X), with a 15% share of total exports. It was followed by Chile, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to -5.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+73.8% per year) and Chile (+46.4% per year).

Export Prices by Country

The average measuring instrument export price stood at $X per unit in 2021, with an increase of 18% against the previous year. Over the period under review, the export price, however, showed a deep contraction. The most prominent rate of growth was recorded in 2016 when the average export price increased by 122%. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Mexico ($X per unit), while the average price for exports to Costa Rica ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Free Zones (+18.6%), while the prices for the other major destinations experienced more modest paces of growth.

Measuring Instrument Imports

Imports into Peru

Measuring instrument imports into Peru rose significantly to X units in 2021, with an increase of 6.2% compared with 2020 figures. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when imports increased by 51% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, measuring instrument imports surged to $X in 2021. Overall, imports showed a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Italy (X units), the United States (X units) and India (X units) were the main suppliers of measuring instrument imports to Peru, together comprising 62% of total imports. China, Poland, South Korea, Taiwan (Chinese), Germany, Mexico, Brazil, Japan and Turkey lagged somewhat behind, together comprising a further 27%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +72.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of measuring instrument to Peru, comprising 30% of total imports. The second position in the ranking was taken by Germany ($X), with a 10% share of total imports. It was followed by China, with a 9.5% share.

From 2012 to 2021, the average annual growth rate of value from the United States totaled -1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-2.5% per year) and China (+7.4% per year).

Import Prices by Country

The average measuring instrument import price stood at $X per unit in 2021, rising by 18% against the previous year. In general, import price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, measuring instrument import price increased by +31.0% against 2019 indices. The pace of growth was the most pronounced in 2015 when the average import price increased by 44%. As a result, import price attained the peak level of $X per unit. From 2016 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+18.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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