Uruguay: Lock And Key Market 2025

Lock And Key Market Size in Uruguay

The Uruguayan lock and key market soared to $X in 2021, surging by 24% against the previous year. The market value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Lock And Key Production in Uruguay

In value terms, lock and key production declined slightly to $X in 2021 estimated in export price. In general, production, however, enjoyed a strong increase. The growth pace was the most rapid in 2013 when the production volume increased by 43% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then contracted slightly in the following year.

Lock And Key Exports

Exports from Uruguay

In 2021, the amount of padlocks, locks and keys of base metal exported from Uruguay declined to X tons, with a decrease of -4.9% compared with 2020. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 87%. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, lock and key exports reduced slightly to $X in 2021. Over the period under review, exports showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 when exports increased by 65% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The Dominican Republic (X tons) was the main destination for lock and key exports from Uruguay, with a 49% share of total exports. Moreover, lock and key exports to the Dominican Republic exceeded the volume sent to the second major destination, Argentina (X tons), threefold. The third position in this ranking was taken by the UK (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Dominican Republic amounted to +19.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (-9.9% per year) and the UK (+6.8% per year).

In value terms, the Dominican Republic ($X) remains the key foreign market for padlocks, locks and keys of base metal exports from Uruguay, comprising 48% of total exports. The second position in the ranking was held by Argentina ($X), with an 18% share of total exports. It was followed by the UK, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to the Dominican Republic amounted to +21.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (-10.3% per year) and the UK (+2.0% per year).

Export Prices by Country

In 2021, the average lock and key export price amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, the export price, however, recorded a pronounced downturn. The growth pace was the most rapid in 2014 an increase of 8.8%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

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 United States ($X per ton), while the average price for exports to Guatemala ($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 Dominican Republic (+1.3%), while the prices for the other major destinations experienced mixed trend patterns.

Lock And Key Imports

Imports into Uruguay

In 2021, after two years of decline, there was significant growth in supplies from abroad of padlocks, locks and keys of base metal, when their volume increased by 36% to X tons. The total import volume increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, lock and key imports surged to $X in 2021. The total import value increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of lock and key to Uruguay, with a 70% share of total imports. Moreover, lock and key imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X tons), more than tenfold. The third position in this ranking was taken by Spain (X tons), with a 5.9% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-2.1% per year) and Spain (+4.5% per year).

In value terms, China ($X) constituted the largest supplier of padlocks, locks and keys of base metal to Uruguay, comprising 52% of total imports. The second position in the ranking was taken by Brazil ($X), with a 9.4% share of total imports. It was followed by Spain, with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-6.1% per year) and Spain (+4.4% per year).

Import Prices by Country

The average lock and key import price stood at $X per ton in 2021, declining by -4.8% against the previous year. In general, the import price continues to indicate a perceptible shrinkage. The pace of growth was the most pronounced in 2020 when the average import price increased by 6.8% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+1.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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