Colombia: Market for Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes 2024

Exports of Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes

Exports from Colombia

In 2022, shipments abroad of buckets, shovels, grabs and grips for ships’ derricks and cranes decreased by -13.1% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 1,004% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, ship derrick buckets and shovels exports declined markedly to $X in 2022. In general, exports, however, saw significant growth. The pace of growth appeared the most rapid in 2013 with an increase of 846% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Panama (X units) was the main destination for ship derrick buckets and shovels exports from Colombia, accounting for a 56% share of total exports. Moreover, ship derrick buckets and shovels exports to Panama exceeded the volume sent to the second major destination, Venezuela (X units), fivefold. Ecuador (X units) ranked third in terms of total exports with a 9.2% share.

From 2012 to 2022, the average annual growth rate of volume to Panama stood at +74.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (+42.1% per year) and Ecuador (+35.4% per year).

In value terms, Panama ($X) emerged as the key foreign market for buckets, shovels, grabs and grips for ships’ derricks and cranes exports from Colombia, comprising 67% of total exports. The second position in the ranking was taken by Venezuela ($X), with a 7.9% share of total exports. It was followed by Ecuador, with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Panama stood at +83.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (+31.2% per year) and Ecuador (+35.1% per year).

Export Prices by Country

In 2022, the average export price for buckets, shovels, grabs and grips for ships’ derricks and cranes amounted to $X per unit, with a decrease of -4.5% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 40%. As a result, the export price reached the peak level of $X per unit. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Honduras ($X per unit), while the average price for exports to Mexico ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Honduras (+3.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Buckets, Shovels, Grabs And Grips For Ships’ Derricks And Cranes

Imports into Colombia

After two years of decline, purchases abroad of buckets, shovels, grabs and grips for ships’ derricks and cranes increased by 12% to X units in 2022. In general, imports, however, continue to indicate a pronounced curtailment. The pace of growth appeared the most rapid in 2019 when imports increased by 208%. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, ship derrick buckets and shovels imports soared to $X in 2022. Over the period under review, imports, however, recorded a drastic downturn. The pace of growth appeared the most rapid in 2019 with an increase of 172%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X units), the United States (X units) and Turkey (X units) were the main suppliers of ship derrick buckets and shovels imports to Colombia, together comprising 70% of total imports. Malaysia, Canada, Spain, the Czech Republic, Mexico, Australia, France and Italy lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +40.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest ship derrick buckets and shovels suppliers to Colombia were the United States ($X), China ($X) and Malaysia ($X), together accounting for 58% of total imports. Turkey, Canada, Spain, Mexico, Australia, France, the Czech Republic and Italy lagged somewhat behind, together comprising a further 26%.

The Czech Republic, with a CAGR of +50.7%, recorded 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

The average import price for buckets, shovels, grabs and grips for ships’ derricks and cranes stood at $X per unit in 2022, rising by 7% against the previous year. Over the period under review, the import price, however, continues to indicate a mild setback. The pace of growth appeared the most rapid in 2017 an increase of 29% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2022, 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 ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+12.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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