Uruguay: Twine Product Market 2024

Twine Product Market Size in Uruguay

The Uruguayan twine product market contracted to $X in 2022, with a decrease of -10.2% against the previous year. Overall, consumption, however, posted strong growth. Twine product consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Twine Product Production in Uruguay

In value terms, twine product production contracted to $X in 2022 estimated in export price. Overall, production, however, showed prominent growth. The growth pace was the most rapid in 2016 when the production volume increased by 120% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Twine Product Exports

Exports from Uruguay

In 2022, shipments abroad of articles of twine, cordage, rope or cables increased by 24% to X tons, rising for the second year in a row after three years of decline. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 460% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, twine product exports expanded rapidly to $X in 2022. Over the period under review, exports continue to indicate a strong expansion. The growth pace was the most rapid in 2014 when exports increased by 450% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil (X kg), Paraguay (X kg) and Spain (X kg) were the main destinations of twine product exports from Uruguay, with a combined 95% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Paraguay (with a CAGR of +39.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for twine product exported from Uruguay were Brazil ($X), Paraguay ($X) and the United States ($X), with a combined 95% share of total exports.

Paraguay, with a CAGR of +33.7%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average twine product export price stood at $X per ton in 2022, dropping by -7.9% against the previous year. Overall, the export price recorded a noticeable contraction. The growth pace was the most rapid in 2016 an increase of 38% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+129.4%), while the prices for the other major destinations experienced mixed trend patterns.

Twine Product Imports

Imports into Uruguay

In 2022, approx. X tons of articles of twine, cordage, rope or cables were imported into Uruguay; with an increase of 9.9% on 2021 figures. In general, imports, however, saw a pronounced setback. The growth pace was the most rapid in 2020 with an increase of 366% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, twine product imports expanded sharply to $X in 2022. Over the period under review, imports, however, recorded a noticeable downturn. The growth pace was the most rapid in 2020 when imports increased by 393% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of twine product to Uruguay, with a 77% share of total imports. Moreover, twine product imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X tons), eightfold. Spain (X tons) ranked third in terms of total imports with a 4.1% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-2.9% per year) and Spain (-16.3% per year).

In value terms, China ($X) constituted the largest supplier of articles of twine, cordage, rope or cables to Uruguay, comprising 54% of total imports. The second position in the ranking was taken by Brazil ($X), with a 13% share of total imports. It was followed by Spain, with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +14.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+2.6% per year) and Spain (-6.6% per year).

Import Prices by Country

The average twine product import price stood at $X per ton in 2022, almost unchanged from the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 40%. Over the period under review, average import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Luxembourg ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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