Uruguay: Sewing Machine Needle Market 2024

Sewing Machine Needle Market Size in Uruguay

The Uruguayan sewing machine needle market soared to $X in 2022, jumping by 20% 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). Overall, the total consumption indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +108.1% against 2019 indices. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in the near future.

Sewing Machine Needle Exports

Exports from Uruguay

Sewing machine needle exports from Uruguay expanded to X units in 2021, with an increase of 3.6% compared with the previous year. Over the period under review, exports showed a significant increase. The pace of growth appeared the most rapid in 2019 when exports increased by 1,233%. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in the immediate term.

In value terms, sewing machine needle exports surged to $X in 2021. Overall, exports saw significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 474% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Brazil (X units) was the main destination for sewing machine needle exports from Uruguay, accounting for a approx. 100% share of total exports.

From 2017 to 2021, the average annual growth rate of volume to Brazil was relatively modest.

In value terms, Brazil ($X) emerged as the key foreign market for sewing machine needles exports from Uruguay.

From 2017 to 2021, the average annual growth rate of value to Brazil was relatively modest.

Export Prices by Country

The average sewing machine needle export price stood at $X per thousand units in 2021, increasing by 61% against the previous year. Over the period under review, the export price continues to indicate a notable increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by 155% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Brazil.

From 2017 to 2021, the rate of growth in terms of prices for Germany amounted to +811.0% per year.

Sewing Machine Needle Imports

Imports into Uruguay

In 2022, imports of sewing machine needles into Uruguay surged to X units, picking up by 22% on 2021 figures. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 60%. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, sewing machine needle imports rose notably to $X in 2022. Overall, total imports indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.8% 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 +67.7% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 67%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest supplier of sewing machine needle to Uruguay, with a 47% share of total imports. Moreover, sewing machine needle imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold. Brazil (X units) ranked third in terms of total imports with an 18% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+15.9% per year) and Brazil (-1.5% per year).

In value terms, the largest sewing machine needle suppliers to Uruguay were Brazil ($X), Germany ($X) and the United States ($X), together accounting for 76% of total imports. India, China, Vietnam, the Czech Republic, Japan and Taiwan (Chinese) lagged somewhat behind, together comprising a further 24%.

Vietnam, with a CAGR of +60.1%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average sewing machine needle import price amounted to $X per thousand units, reducing by -12.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The pace of growth was the most pronounced in 2013 an increase of 30%. Over the period under review, average import prices attained the peak figure at $X per thousand units in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

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 Vietnam ($X per thousand units), while the price for China ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :