Colombia: Agricultural Forestry Machinery Market 2024

Agricultural Forestry Machinery Market Size in Colombia

The Colombian agricultural forestry machinery market contracted to $X in 2022, reducing by -1.8% against the previous year. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Agricultural forestry machinery consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Agricultural Forestry Machinery Production in Colombia

In value terms, agricultural forestry machinery production declined modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when the production volume increased by 31% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Agricultural Forestry Machinery Exports

Exports from Colombia

In 2022, approx. X units of agricultural forestry machinery (lawn or sportsground rollers) were exported from Colombia; waning by -23.3% against 2021 figures. In general, exports, however, enjoyed modest growth. The most prominent rate of growth was recorded in 2017 when exports increased by 671% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, agricultural forestry machinery exports shrank markedly to $X in 2022. Over the period under review, exports recorded a perceptible reduction. The pace of growth was the most pronounced in 2017 when exports increased by 675% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Ecuador (X units) was the main destination for agricultural forestry machinery exports from Colombia, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ecuador stood at +11.1%.

In value terms, Ecuador ($X) also remains the key foreign market for agricultural forestry machinery (lawn or sportsground rollers) exports from Colombia.

From 2012 to 2022, the average annual growth rate of value to Ecuador amounted to +4.5%.

Export Prices by Country

The average agricultural forestry machinery export price stood at $X per unit in 2022, with a decrease of -12.9% against the previous year. Overall, the export price recorded a drastic downturn. The pace of growth was the most pronounced in 2019 when the average export price increased by 63% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2020 to 2022, the average export prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for the Dominican Republic amounted to +4.4% per year.

Agricultural Forestry Machinery Imports

Imports into Colombia

In 2022, approx. X units of agricultural forestry machinery (lawn or sportsground rollers) were imported into Colombia; surging by 8.7% against the previous year. Overall, imports, however, showed a deep slump. The most prominent rate of growth was recorded in 2015 when imports increased by 99%. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, agricultural forestry machinery imports fell to $X in 2022. In general, imports, however, faced a abrupt contraction. The most prominent rate of growth was recorded in 2015 when imports increased by 102% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The United States (X units), China (X units) and Mexico (X units) were the main suppliers of agricultural forestry machinery imports to Colombia, with a combined 66% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +27.5%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) constituted the largest supplier of agricultural forestry machinery (lawn or sportsground rollers) to Colombia, comprising 55% of total imports. The second position in the ranking was taken by Italy ($X), with a 13% share of total imports. It was followed by China, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at -10.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-15.7% per year) and China (-9.6% per year).

Import Prices by Country

The average agricultural forestry machinery import price stood at $X per unit in 2022, which is down by -18% against the previous year. Overall, the import price showed a pronounced setback. The pace of growth was the most pronounced in 2014 when the average import price increased by 30% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Mexico ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :