Uruguay: Golf Equipment Market 2024

Golf Equipment Market Size in Uruguay

The Uruguayan golf equipment market skyrocketed to $X in 2022, growing by 62% 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, however, showed a slight downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Golf Equipment Exports

Exports from Uruguay

After four years of growth, shipments abroad of golf clubs and other golf equipment decreased by -4.8% to X units in 2022. In general, exports, however, saw a strong expansion. The growth pace was the most rapid in 2015 with an increase of 482% against the previous year. The exports peaked at X units in 2021, and then contracted modestly in the following year.

In value terms, golf equipment exports contracted rapidly to $X in 2022. Over the period under review, exports, however, enjoyed buoyant growth. The pace of growth was the most pronounced in 2015 when exports increased by 442% against the previous year. The exports peaked at $X in 2021, and then contracted significantly in the following year.

Exports by Country

Ecuador (X units) was the main destination for golf equipment exports from Uruguay, with a 95% share of total exports. It was followed by Guatemala (X units), with a 2.2% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Ecuador amounted to +37.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (-12.2% per year) and Chile (-24.2% per year).

In value terms, Ecuador ($X) remains the key foreign market for golf clubs and other golf equipment exports from Uruguay, comprising 52% of total exports. The second position in the ranking was held by Guatemala ($X), with a 10% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Ecuador stood at +17.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (-1.6% per year) and Chile (-12.2% per year).

Export Prices by Country

In 2022, the average golf equipment export price amounted to $X per unit, waning by -30.9% against the previous year. Over the period under review, the export price continues to indicate a abrupt setback. The pace of growth was the most pronounced in 2017 when the average export price increased by 41% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2018 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Chile ($X per unit), while the average price for exports to Ecuador ($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 Chile (+15.9%), while the prices for the other major destinations experienced mixed trend patterns.

Golf Equipment Imports

Imports into Uruguay

In 2022, imports of golf clubs and other golf equipment into Uruguay surged to X units, increasing by 59% compared with the year before. In general, imports, however, showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2019 when imports increased by 142%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, golf equipment imports skyrocketed to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 146% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, the United States (X units) constituted the largest supplier of golf equipment to Uruguay, with a 66% share of total imports. Moreover, golf equipment imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), twofold.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-1.1% per year) and Taiwan (Chinese) (+1.6% per year).

In value terms, the United States ($X) constituted the largest supplier of golf clubs and other golf equipment to Uruguay, comprising 75% of total imports. The second position in the ranking was taken by China ($X), with a 21% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-0.4% per year) and Taiwan (Chinese) (-0.9% per year).

Import Prices by Country

The average golf equipment import price stood at $X per unit in 2022, dropping by -1.5% against the previous year. Over the period under review, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.0% 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 decreased by -23.5% against 2017 indices. The pace of growth appeared the most rapid in 2017 an increase of 30% against the previous year. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+14.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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