Uruguay: Market for Gym and Fitness Equipment 2024

Market Size for Gym and Fitness Equipment in Uruguay

The Uruguayan gym and fitness equipment market declined to $X in 2022, dropping by -10.4% 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, the total consumption indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -19.2% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Exports of Gym and Fitness Equipment

Exports from Uruguay

In 2022, overseas shipments of gym and fitness equipment decreased by -94.6% to X kg for the first time since 2015, thus ending a six-year rising trend. Over the period under review, exports, however, continue to indicate a buoyant expansion. The growth pace was the most rapid in 2017 with an increase of 462% against the previous year. The exports peaked at X tons in 2021, and then reduced sharply in the following year.

In value terms, gym and fitness equipment exports dropped notably to $X in 2022. In general, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 587% against the previous year. The exports peaked at $X in 2021, and then declined significantly in the following year.

Exports by Country

The UK (X kg), Chile (X kg) and Argentina (X kg) were the main destinations of gym and fitness equipment exports from Uruguay, with a combined 95% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +71.3%), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Chile ($X) and Free Zones ($X) constituted the largest markets for gym and fitness equipment exported from Uruguay worldwide, with a combined 65% share of total exports.

Chile, with a CAGR of +58.5%, saw the highest growth rate of the value of exports, among 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 gym and fitness equipment export price stood at $X per ton in 2022, rising by 7% against the previous year. Overall, the export price posted a remarkable increase. The pace of growth was the most pronounced in 2016 an increase of 64% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2022, 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 Free Zones ($X per ton), while the average price for exports to the UK ($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 Paraguay (+16.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gym and Fitness Equipment

Imports into Uruguay

In 2022, supplies from abroad of gym and fitness equipment decreased by -28.8% to X tons, falling for the second year in a row after four years of growth. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 39% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, gym and fitness equipment imports dropped to $X in 2022. Overall, total imports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -11.3% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 32% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of gym and fitness equipment to Uruguay, accounting for a 75% share of total imports. Moreover, gym and fitness equipment imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X tons), sixfold. The United States (X tons) ranked third in terms of total imports with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+51.5% per year) and the United States (-1.1% per year).

In value terms, China ($X) constituted the largest supplier of gym and fitness equipment to Uruguay, comprising 62% of total imports. The second position in the ranking was held by the United States ($X), with an 11% share of total imports. It was followed by Hong Kong SAR, with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+0.9% per year) and Hong Kong SAR (+52.9% per year).

Import Prices by Country

The average gym and fitness equipment import price stood at $X per ton in 2022, with an increase of 32% against the previous year. Over the last decade, it increased at an average annual rate of +2.8%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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