Industry Focus >>Latin America andCaribbean Aggregation

Hardware & Fastening Tools
Trade Statistics
拉丁美洲暨加勒比海地區五金
及緊固工具貿易統計(Note: Numbers in the Tables are in thousand USD;
analysis is based on numbers of 2021)

Latin America is the portion of the Americas comprising regions where Romanlanguages (languages that derived from Latin, e.g. Spanish, Portuguese, and French)
are predominantly spoken. The term was coined in the nineteenth century, to referto regions in the Americas that were ruled by the Spanish, Portuguese and Frenchempires. Their population is more than 656 million.

Import Terms
HS CODE 820411: Non-adjustable Hand-operated Spanners and Wrenches

Hardware & Fastener Components - no.56/2022

In this category, Latin America’s share of the world’s imports was 0.6%, which had a value of USD 9.791 million in 2021. In this category, inthe year of 2021 it grew by 28% compared to the previous year, which indicated the normalization of business in this region after the Covid.
Import2017

2018

2019

2020

2021

World

1,306,528

1,423,799

1,412,849

1,333,136

1,736,268

100%Latin America11,722

9,945

10,191

7,611

9,791

0.6%

Brazil had 60.6% of this region’s imports, while Argentina accounted for 26.8% and other countries accounted for a total of 12.6%.
The import value of Brazil was USD 5.937 million, Argentina was USD 2.621 million and other countries were USD 1.233 million in 2021.

HS CODE 820412: Adjustable Hand-operated Spanners and Wrenches
In this category of tools, Latin America’s import share was 7% of the world’s total imports. In 2021, this category had a huge growth of
52.2% compared to 2020, bringing the value of this category to USD 42.751 thousand in 2021.
Import20172018

2019

2020

2021

World

518,685

578,144545,034

486,848600,259

Latin America

33,06937,73533,771

28,08742,751-14.1%-10.5%-16.8%

52.2%

YoY Ratio

068

2021 ShareIndustry Focus >>The main importer of this category was Brazil. It imported 17.9%of the whole tools in this category and its import value was USD 7.648
million in 2021.
Chile was the 2nd biggest importer in Latin America in this sector.
The value of its imported tools value in this sector was USD 6.775
million and it bought 15.8% of the whole imported tools in 2021.
Peru as the 3rd biggest importer bought 14.0% of the whole
imported tools and its value was USD 5.982 million in 2021.
Argentina as the 4th biggest market for these types of tools bought
USD 3.279 million worth of tools and it purchased 7.7% of the wholetools sold in Latin America.
Other countries in this region bought USD 19.067 million of toolsand its share was 7.7%.

HS Code 820420: Interchangeable Spanner
Sockets, with or Without Handles, of Base
Metal
In this category of tools, 5% of the world’s total imports were sent
to Latin America. In 2021, after two years of import decline, thepurchase of this type of goods increased by 60.7% in Latin America,
and the value of this category was 71.488 million dollars.
ImportWorldLatin
America
YoYRatio

20172018

2019

2020

2021

1,054,921 1,207,023 1,222,443 1,089,250 1,424,848
53,32560,33451,49344,477

71,488-13.1%-14.7%-13.6%

60.7%

Brazil was the main market of these type of tools. Its import value
was USD 19.105 million and it represented 26.7% of the whole importof tools to Latin America.

Hardware & Fastener Components - no.56/2022

Chile with the purchase of USD 12.815 million worth of tools
was ranked 2nd and it represented 17.9% of the whole Latin Americamarket.

070

Peru was ranked 3rd with a 10.5% market share and the value of its
imported tools in this sector was USD 7.523 million.
Other countries in this region had 44.8% of the market share andthe market value of USD 32.045 million in 2021.

HS Code: 820540 Hand-operated Screwdrivers
4.4% of the world’s total imports went to Latin America, whichmeans a value equivalent to USD 44.101 million in 2021. After 2 yearsof fall in import, in 2021 the import of this type of tools grew bynearly 54%, the highest import value since 2017.
Import

2,017

2018

2019

2020

2021

World

724,584

881,268

818,802799,787

994,963

Latin
America

33,56135,94432,403

28,693

44,101YoY Ratio

-7.1%

-9.9%

-11.4%

53.7%

5 countries accounted for more than 60% of the imports in thiscategory.
Brazil ranked first with the imports worth USD 8.728 million in
total and a share of 19.8% of all imports to Latin America in 2021.
Chile ranked second in this type of tools and its import value was
USD 7.891 million, which represented 17.9% of the total import ofthis category.
Peru ranked third with a 9% share of imports, whose importvalue was USD 3.984 million in 2021.
Argentina with 7.5% and Ecuador with 6.7% were in the nextranks. Argentina’s import value was equal to USD 3.314 million andEcuador’s import value was USD 2.969 million in 2021.
Other Latin American countries had an import share of 39%,
equivalent to USD 17.215 million in 2021.

Export Terms
HS CODE 820411: Non-adjustable Handoperated Spanners and Wrenches
The share of Latin American exports in this category was 0.6%
and its export value was equivalent to USD 9.791 million in 2021.
ExportWorldLatin
America
YoY
Ratio

2,017

2018

2019

2020

2021

1,306,528 1,423,799 1,412,849 1,333,136 1,736,268
11,722

9,945

10,191

7,611

9,791

--15.2%

2.5%-25.3%

28.6%

Brazil with 60.6% and Argentina with 26.8% were the two main
exporters of this category. The export value of each country was asfollows:
Brazil: USD 5.937 million
Argentina: USD 2.621 million

HS CODE 820412: Adjustable Hand-operated
Spanners and Wrenches
In this category, the value of exported fasteners was USD 4.837
million in 2021, representing 0.7% of the world’s total exports in2021.
Export

2017

2018

2019

2020

2021

World

542,522592,009581,274

540,227

672,004

7,178

4,704

5,240

3,566

4,837

--34.5%11.4%-31.9%

35.6%

Latin
America
YoYRatio

Panama had 48.8% of the Latin America’s export share andArgentina had 24.8%. Panama’s export value was USD 2.360 millionand Argentina’s export value was 1.2 million in 2021.

Industry Focus >>Latin America shared USD 2.580 million of the world’s total export, equivalent to 0.18% ofthe whole trades in this category in 2021.
Export

2017

2018

2019

2020

2021

World

920,305

1,047,265

1,048,774

1,048,002

1,404,159

Latin
America

4,550

3,173

3,480

2,101

2,580

YoY Ratio--30.3%9.7%-39.6%

22.8%

Brazil had USD 1.648 million in 2021, which was 63.9% of the whole exported tools in thiscategory. Panama was ranked 2nd with USD 1.391 million in value and 15.2% in market share.

HS Code: 820540 Hand-operated Screwdrivers
0.37% was the share of Latin America in the whole exports of the world and the value of Latin
America was USD 3.550 million in 2021.
Export

2017

2018

2019

2020

2021

World

810,611

870,598

812,471765,729

968,797

Latin America

3,379

3,054

2,726

2,334

3,550--9.6%-10.7%-14.4%

52.1%

YoY Ratio

Pa nama a nd Brazil were twocountries that shared 79% of theexported tools in Latin America.
Panama’s export value was USD
1.771 million and Brazil’s export
value was USD 1.198 million in 2021.

Conclusion
Latin America could recover its
numbers very soon (see the numbersin 2021) which means that it is anagile region. Hence, equipment
manufacturers have an opportunity
to empower fastener manufacturers
through investing in their factories
for improving the numbers as thenumbers of export are still low.

Article by Behrooz Lotfian
Copyright owned by Fastener World

Hardware & Fastener Components - no.56/2022

HS Code 820420: Interchangeable Spanner Sockets, with or
Without Handles, of Base Metal071