Colombia: Market for Electronic Instruments And Machines For Measuring Geometrical Quantities 2024

Market Size for Electronic Instruments And Machines For Measuring Geometrical Quantities in Colombia

The Colombian geometrical quantities electronic measurer market reduced to $X in 2022, falling by -9.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Exports of Electronic Instruments And Machines For Measuring Geometrical Quantities

Exports from Colombia

In 2022, approx. X units of electronic instruments and machines for measuring geometrical quantities were exported from Colombia; picking up by 16% on 2021 figures. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 188%. Over the period under review, the exports attained the maximum at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, geometrical quantities electronic measurer exports skyrocketed to $X in 2022. In general, exports, however, continue to indicate a abrupt curtailment. The growth pace was the most rapid in 2016 when exports increased by 134% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units), Mexico (X units) and Germany (X units) were the main destinations of geometrical quantities electronic measurer exports from Colombia, with a combined 46% share of total exports. Brazil, Bolivia, Ecuador and Peru lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bolivia (with a CAGR of +84.1%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for electronic instruments and machines for measuring geometrical quantities exports from Colombia, comprising 37% of total exports. The second position in the ranking was taken by Mexico ($X), with a 9.5% share of total exports. It was followed by Germany, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled -11.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+30.1% per year) and Germany (-4.6% per year).

Export Prices by Country

The average geometrical quantities electronic measurer export price stood at $X per unit in 2022, with an increase of 25% against the previous year. In general, the export price, however, saw a abrupt slump. The growth pace was the most rapid in 2018 when the average export price increased by 41%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Bolivia ($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 the United States (-0.8%), while the prices for the other major destinations experienced a decline.

Imports of Electronic Instruments And Machines For Measuring Geometrical Quantities

Imports into Colombia

In 2022, geometrical quantities electronic measurer imports into Colombia dropped to X units, waning by -11.9% compared with the year before. Overall, total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +14.4% against 2020 indices. The pace of growth was the most pronounced in 2013 when imports increased by 64%. Over the period under review, imports reached the peak figure at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, geometrical quantities electronic measurer imports fell to $X in 2022. The total import value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by 28% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest geometrical quantities electronic measurer supplier to Colombia, accounting for a 38% share of total imports. Moreover, geometrical quantities electronic measurer imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. Italy (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-7.1% per year) and Italy (+10.4% per year).

In value terms, the United States ($X), China ($X) and Germany ($X) appeared to be the largest geometrical quantities electronic measurer suppliers to Colombia, together accounting for 54% of total imports. Italy, Brazil, Spain, Japan, Mexico, South Korea and Romania lagged somewhat behind, together accounting for a further 18%.

Romania, with a CAGR of +125.9%, saw the highest rates of growth with regard to 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

In 2022, the average geometrical quantities electronic measurer import price amounted to $X per unit, growing by 6% against the previous year. In general, the import price, however, saw a slight decline. The most prominent rate of growth was recorded in 2017 when the average import price increased by 34% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2019; however, from 2020 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 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 the United States (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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