Uruguay: Mounted Objective Lens Market 2024

Mounted Objective Lens Market Size in Uruguay

In 2022, the Uruguayan mounted objective lens market decreased by -2.3% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Mounted Objective Lens Exports

Exports from Uruguay

After three years of growth, overseas shipments of mounted objective lenses decreased by -73.2% to X units in 2022. Overall, exports, however, saw a modest increase. The growth pace was the most rapid in 2019 with an increase of 606% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2021, and then contracted dramatically in the following year.

In value terms, mounted objective lens exports declined remarkably to $X in 2022. In general, exports, however, saw a buoyant increase. The pace of growth was the most pronounced in 2019 when exports increased by 477%. Over the period under review, the exports attained the maximum at $X in 2021, and then declined sharply in the following year.

Exports by Country

The United States (X units) was the main destination for mounted objective lens exports from Uruguay, accounting for a 6.9% share of total exports. Moreover, mounted objective lens exports to the United States exceeded the volume sent to the second major destination, Mexico (X units), sixfold. The third position in this ranking was taken by Paraguay (X units), with a 1.1% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +34.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+24.1% per year) and Paraguay (-16.4% per year).

In value terms, the UK ($X) emerged as the key foreign market for mounted objective lenses exports from Uruguay, comprising 27% of total exports. The second position in the ranking was held by the United States ($X), with an 8.8% share of total exports. It was followed by Argentina, with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK totaled +49.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+41.8% per year) and Argentina (+14.0% per year).

Export Prices by Country

In 2021, the average mounted objective lens export price amounted to $X per unit, picking up by 43% against the previous year. In general, export price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when the average export price increased by 68% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Paraguay ($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 the UK (+29.4%), while the prices for the other major destinations experienced more modest paces of growth.

Mounted Objective Lens Imports

Imports into Uruguay

For the fourth year in a row, Uruguay recorded growth in overseas purchases of mounted objective lenses, which increased by 2.1% to X units in 2022. In general, total imports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +86.4% against 2018 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 69% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, mounted objective lens imports contracted markedly to $X in 2022. Overall, imports, however, saw a perceptible decrease. The most prominent rate of growth was recorded in 2017 when imports increased by 81%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of mounted objective lens to Uruguay, with a 33% share of total imports. Moreover, mounted objective lens imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), threefold. Thailand (X units) ranked third in terms of total imports with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +22.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+38.9% per year) and Thailand (+20.6% per year).

In value terms, the largest mounted objective lens suppliers to Uruguay were China ($X), the United States ($X) and Thailand ($X).

In terms of the main suppliers, China, with a CAGR of +26.7%, 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 mounted objective lens import price stood at $X per unit in 2021, rising by 13% against the previous year. In general, the import price, however, continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2016 when the average import price increased by 15%. Over the period under review, average import prices hit record highs at $X per unit in 2018; however, from 2019 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 the United States ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+8.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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