Colombia: Machinery Electrical Parts Market 2025

Machinery Electrical Parts Market Size in Colombia

The Colombian machinery electrical parts market shrank slightly to $X in 2022, dropping by -2.3% against the previous year. Overall, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 +1.2% against 2020 indices. Machinery electrical parts consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Machinery Electrical Parts Production in Colombia

In value terms, machinery electrical parts production contracted to $X in 2022 estimated in export price. Overall, the total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by +0.8% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 64% against the previous year. Machinery electrical parts production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Machinery Electrical Parts Exports

Exports from Colombia

In 2022, the amount of electrical parts of machinery or apparatus exported from Colombia fell slightly to X tons, leveling off at the previous year's figure. Over the period under review, exports, however, continue to indicate significant growth. The growth pace was the most rapid in 2014 with an increase of 266%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, machinery electrical parts exports declined notably to $X in 2022. Overall, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 221%. Over the period under review, the exports hit record highs at $X in 2021, and then dropped dramatically in the following year.

Exports by Country

The United States (X tons), Ecuador (X tons) and Malaysia (X tons) were the main destinations of machinery electrical parts exports from Colombia, with a combined 73% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +258.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) emerged as the key foreign market for electrical parts of machinery or apparatus exports from Colombia, comprising 50% of total exports. The second position in the ranking was taken by Belgium ($X), with a 21% share of total exports. It was followed by Malaysia, with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +25.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+137.1% per year) and Malaysia (+307.8% per year).

Export Prices by Country

The average machinery electrical parts export price stood at $X per ton in 2022, falling by -17.5% against the previous year. Over the period under review, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, machinery electrical parts export price increased by +41.5% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of 37%. As a result, the export price reached the peak level of $X per ton, and then dropped significantly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+52.5%), while the prices for the other major destinations experienced more modest paces of growth.

Machinery Electrical Parts Imports

Imports into Colombia

In 2022, imports of electrical parts of machinery or apparatus into Colombia shrank remarkably to X tons, declining by -55.7% against the year before. In general, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 598% against the previous year. As a result, imports reached the peak of X tons, and then shrank sharply in the following year.

In value terms, machinery electrical parts imports contracted remarkably to $X in 2022. Overall, imports continue to indicate a noticeable descent. The growth pace was the most rapid in 2021 when imports increased by 182% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Brazil (X tons), China (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of machinery electrical parts imports to Colombia, with a combined 77% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of +81.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Brazil ($X) and the United States ($X) appeared to be the largest machinery electrical parts suppliers to Colombia, together accounting for 68% of total imports.

Among the main suppliers, Brazil, with a CAGR of +70.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average machinery electrical parts import price stood at $X per ton in 2022, jumping by 53% against the previous year. Over the period under review, the import price, however, saw a noticeable descent. Over the period under review, average import prices attained the maximum at $X per ton in 2016; however, from 2017 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 the United States ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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