Uruguay: Measuring Instrument Market 2022

Measuring Instrument Market Size in Uruguay

The Uruguayan measuring instrument market was finally on the rise to reach $X in 2021, after two years of decline. Overall, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Measuring Instrument Exports

Exports from Uruguay

In 2021, approx. X units of instruments and apparatus for measuring or checking the flow or level of liquids were exported from Uruguay; shrinking by -19.2% on the previous year. In general, exports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 182% against the previous year. Over the period under review, the exports hit record highs at X units in 2020, and then fell remarkably in the following year.

In value terms, measuring instrument exports contracted dramatically to $X in 2021. Over the period under review, exports showed a deep setback. The most prominent rate of growth was recorded in 2018 with an increase of 193% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for measuring instrument exports from Uruguay, accounting for a 71% share of total exports. Moreover, measuring instrument exports to the United States exceeded the volume sent to the second major destination, Argentina (X units), threefold. The third position in this ranking was taken by Brazil (X units), with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +47.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+10.4% per year) and Brazil (-32.2% per year).

In value terms, the United States ($X) emerged as the key foreign market for measuring instrument exports from Uruguay, comprising 82% of total exports. The second position in the ranking was held by China ($X), with a 12% share of total exports. It was followed by Argentina, with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +33.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-0.7% per year) and Argentina (+1.0% per year).

Export Prices by Country

The average measuring instrument export price stood at $X per unit in 2021, dropping by -27.4% against the previous year. In general, the export price continues to indicate a deep slump. The pace of growth appeared the most rapid in 2019 when the average export price increased by 64% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was China ($X per unit), while the average price for exports to Brazil ($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 China (+62.3%), while the prices for the other major destinations experienced a decline.

Measuring Instrument Imports

Imports into Uruguay

In 2021, purchases abroad of instruments and apparatus for measuring or checking the flow or level of liquids increased by 102% to X units, rising for the second consecutive year after two years of decline. In general, imports showed a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, measuring instrument imports skyrocketed to $X in 2021. Over the period under review, total imports indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 52%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

China (X units), Brazil (X units) and Argentina (X units) were the main suppliers of measuring instrument imports to Uruguay, together accounting for 75% of total imports. These countries were followed by Spain, Taiwan (Chinese), Germany, South Korea, Sweden, Israel, Italy and the United States, which together accounted for a further 19%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Israel (with a CAGR of +34.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Brazil ($X) and the United States ($X) appeared to be the largest measuring instrument suppliers to Uruguay, with a combined 46% share of total imports. Israel, China, Italy, South Korea, Spain, Argentina, Sweden and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 32%.

In terms of the main suppliers, Israel, with a CAGR of +39.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average measuring instrument import price stood at $X per unit in 2021, with a decrease of -35.2% against the previous year. In general, the import price showed a pronounced shrinkage. The growth pace was the most rapid in 2018 when the average import price increased by 61%. Over the period under review, average import prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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