Uruguay: Loudspeaker Market 2024

Loudspeaker Market Size in Uruguay

The Uruguayan loudspeaker market soared to $X in 2022, growing by 40% 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). Over the period under review, consumption, however, showed a pronounced decrease. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Loudspeaker Exports

Exports from Uruguay

In 2022, shipments abroad of loudspeakers was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Overall, exports showed a resilient expansion. The growth pace was the most rapid in 2017 when exports increased by 1,177% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, loudspeaker exports declined notably to $X in 2022. Over the period under review, exports, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2017 with an increase of 1,215% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for loudspeaker exports from Uruguay, accounting for a 78% share of total exports. Moreover, loudspeaker exports to the United States exceeded the volume sent to the second major destination, Paraguay (X units), tenfold. Chile (X units) ranked third in terms of total exports with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +108.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (+24.5% per year) and Chile (-11.3% per year).

In value terms, Paraguay ($X), Chile ($X) and the United States ($X) were the largest markets for loudspeaker exported from Uruguay worldwide, with a combined 83% share of total exports.

In terms of the main countries of destination, the United States, with a CAGR of +124.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average loudspeaker export price stood at $X per unit in 2022, shrinking by -83.8% against the previous year. In general, the export price recorded a deep reduction. The pace of growth appeared the most rapid in 2021 when the average export price increased by 49% against the previous year. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Paraguay ($X per unit), while the average price for exports to the United States ($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 the United States (+7.6%), while the prices for the other major destinations experienced mixed trend patterns.

Loudspeaker Imports

Imports into Uruguay

In 2022, loudspeaker imports into Uruguay skyrocketed to X units, rising by 62% against the year before. Over the period under review, imports, however, showed a deep downturn. Over the period under review, imports reached the maximum at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, loudspeaker imports surged to $X in 2022. Overall, imports, however, saw a pronounced curtailment. The most prominent rate of growth was recorded in 2013 when imports increased by 56%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest loudspeaker supplier to Uruguay, with a 86% share of total imports. Moreover, loudspeaker imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X units), tenfold.

From 2012 to 2022, the average annual growth rate of volume from China totaled -6.1%.

In value terms, China ($X) constituted the largest supplier of loudspeakers to Uruguay, comprising 76% of total imports. The second position in the ranking was held by Brazil ($X), with a 3.7% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China was relatively modest.

Import Prices by Country

The average loudspeaker import price stood at $X per unit in 2022, shrinking by -18.3% against the previous year. Over the period under review, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, loudspeaker import price decreased by -34.2% against 2016 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by 47% against the previous year. As a result, import price reached the peak level of $X per unit. From 2017 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while the price for Brazil totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+19.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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