Uruguay: Sunglasses Market 2024

Sunglasses Market Size in Uruguay

In 2022, the Uruguayan sunglasses market increased by 30% to $X, rising for the second consecutive year after four years of decline. In general, consumption, however, saw a perceptible downturn. Sunglasses consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Sunglasses Production in Uruguay

In value terms, sunglasses production contracted to $X in 2022 estimated in export price. Overall, production faced a abrupt slump. The most prominent rate of growth was recorded in 2021 when the production volume increased by 8% against the previous year. Sunglasses production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Sunglasses Exports

Exports from Uruguay

In 2022, shipments abroad of sunglasses decreased by -82.8% to X units, falling for the fourth consecutive year after three years of growth. In general, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 5,487% against the previous year. Over the period under review, the exports reached the maximum at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, sunglasses exports fell significantly to $X in 2022. Overall, exports, however, showed resilient growth. The pace of growth appeared the most rapid in 2014 with an increase of 3,099%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Peru (X units) was the main destination for sunglasses exports from Uruguay, accounting for a 71% share of total exports. Moreover, sunglasses exports to Peru exceeded the volume sent to the second major destination, Paraguay (X units), fourfold. The United States (X units) ranked third in terms of total exports with an 8.6% share.

From 2012 to 2022, the average annual growth rate of volume to Peru stood at +333.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (+6.7% per year) and the United States (-41.3% per year).

In value terms, Peru ($X) emerged as the key foreign market for sunglasses exports from Uruguay, comprising 69% of total exports. The second position in the ranking was held by Paraguay ($X), with a 17% share of total exports. It was followed by the United States, with an 8.4% share.

From 2012 to 2022, the average annual growth rate of value to Peru stood at +333.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (+18.3% per year) and the United States (-47.3% per year).

Export Prices by Country

The average sunglasses export price stood at $X per unit in 2022, almost unchanged from the previous year. In general, the export price continues to indicate a abrupt slump. The pace of growth appeared the most rapid in 2020 an increase of 75% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Bolivia ($X per unit) and Paraguay ($X per unit), while the average price for exports to Peru ($X per unit) and the United States ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Paraguay (+10.8%), while the prices for the other major destinations experienced mixed trend patterns.

Sunglasses Imports

Imports into Uruguay

In 2022, overseas purchases of sunglasses increased by 36% to X units for the first time since 2018, thus ending a three-year declining trend. Overall, imports recorded a relatively flat trend pattern. Imports peaked at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, sunglasses imports soared to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 32% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of sunglasses to Uruguay, with a 90% share of total imports. Moreover, sunglasses imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), more than tenfold. Hong Kong SAR (X units) ranked third in terms of total imports with a 1.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+4.3% per year) and Hong Kong SAR (+5.9% per year).

In value terms, China ($X) constituted the largest supplier of sunglasses to Uruguay, comprising 56% of total imports. The second position in the ranking was held by Italy ($X), with a 22% share of total imports. It was followed by the United States, with a 3.7% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-4.5% per year) and the United States (-3.9% per year).

Import Prices by Country

In 2022, the average sunglasses import price amounted to $X per unit, waning by -5.3% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 41% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, 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 Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+15.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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