Uruguay: Granite Building Stone Market 2024

Granite Building Stone Market Size in Uruguay

For the third year in a row, the Uruguayan granite building stone market recorded decline in sales value, which decreased by -0.5% to $X in 2021. Over the period under review, consumption recorded a perceptible slump. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Granite Building Stone Exports

Exports from Uruguay

In 2021, overseas shipments of granite building stone decreased by -34.6% to X tons, falling for the fifth year in a row after two years of growth. Overall, exports faced a deep reduction. The most prominent rate of growth was recorded in 2015 when exports increased by 81%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, granite building stone exports shrank remarkably to $X in 2021. Over the period under review, exports continue to indicate a sharp reduction. The pace of growth appeared the most rapid in 2020 with an increase of 95%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Norway (X tons) was the main destination for granite building stone exports from Uruguay, accounting for a 72% share of total exports. Moreover, granite building stone exports to Norway exceeded the volume sent to the second major destination, Argentina (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Norway was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (-8.1% per year) and the Netherlands (+197.6% per year).

In value terms, Norway ($X), Argentina ($X) and the Netherlands ($X) were the largest markets for granite building stone exported from Uruguay worldwide, with a combined 92% share of total exports.

In terms of the main countries of destination, the Netherlands, with a CAGR of +230.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average granite building stone export price stood at $X per ton in 2021, waning by -46.4% against the previous year. In general, the export price recorded a deep slump. The pace of growth was the most pronounced in 2020 an increase of 114% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the 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 the Netherlands ($X per ton), while the average price for exports to Norway ($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 the Netherlands (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.

Granite Building Stone Imports

Imports into Uruguay

In 2021, purchases abroad of granite building stone decreased by -11.9% to X tons, falling for the second year in a row after two years of growth. Overall, imports recorded a perceptible downturn. The pace of growth was the most pronounced in 2018 when imports increased by 13% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, granite building stone imports totaled $X in 2021. Over the period under review, imports showed a abrupt decline. The pace of growth was the most pronounced in 2018 with an increase of 11% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Brazil (X tons) constituted the largest granite building stone supplier to Uruguay, accounting for a 79% share of total imports. Moreover, granite building stone imports from Brazil exceeded the figures recorded by the second-largest supplier, Spain (X tons), ninefold. The third position in this ranking was taken by India (X tons), with a 6.7% share.

From 2012 to 2021, the average annual growth rate of volume from Brazil amounted to +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+46.7% per year) and India (-10.3% per year).

In value terms, Brazil ($X) constituted the largest supplier of granite building stone to Uruguay, comprising 72% of total imports. The second position in the ranking was held by India ($X), with a 14% share of total imports. It was followed by Spain, with a 7.4% share.

From 2012 to 2021, the average annual growth rate of value from Brazil amounted to -2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-5.8% per year) and Spain (+42.2% per year).

Import Prices by Country

In 2021, the average granite building stone import price amounted to $X per ton, growing by 16% against the previous year. Overall, the import price, however, recorded a perceptible downturn. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was India ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+5.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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