Colombia: Electronic Material Tester Market 2024

Electronic Material Tester Market Size in Colombia

In 2021, the Colombian electronic material tester market decreased by -48.9% to $X, falling for the second consecutive year after two years of growth. Overall, consumption saw a abrupt decrease. Over the period under review, the market attained the peak level at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Electronic Material Tester Exports

Exports from Colombia

In 2021, overseas shipments of electronic machines and appliances for testing materials were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, continue to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2018 with an increase of 47% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, electronic material tester exports surged to $X in 2021. In general, exports, however, continue to indicate a pronounced decrease. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Peru (X units) was the main destination for electronic material tester exports from Colombia, accounting for a 73% share of total exports. Moreover, electronic material tester exports to Peru exceeded the volume sent to the second major destination, Guatemala (X units), sevenfold. The third position in this ranking was taken by El Salvador (X units), with a 4.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Peru was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+21.8% per year) and El Salvador (+20.5% per year).

In value terms, Peru ($X) remains the key foreign market for electronic machines and appliances for testing materials exports from Colombia, comprising 53% of total exports. The second position in the ranking was held by Guatemala ($X), with a 9.6% share of total exports. It was followed by Ecuador, with a 5.3% share.

From 2012 to 2021, the average annual growth rate of value to Peru was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+19.7% per year) and Ecuador (-7.5% per year).

Export Prices by Country

The average electronic material tester export price stood at $X per unit in 2021, shrinking by -2.6% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 27% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Peru ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bolivia (+25.7%), while the prices for the other major destinations experienced more modest paces of growth.

Electronic Material Tester Imports

Imports into Colombia

In 2021, purchases abroad of electronic machines and appliances for testing materials decreased by -34.2% to X units, falling for the second consecutive year after two years of growth. In general, imports showed a deep setback. The pace of growth was the most pronounced in 2018 with an increase of 23% against the previous year. Imports peaked at X units in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, electronic material tester imports reduced slightly to $X in 2021. Over the period under review, imports showed a abrupt contraction. The growth pace was the most rapid in 2018 with an increase of 34% against the previous year. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Italy (X units), the United States (X units) and China (X units) were the main suppliers of electronic material tester imports to Colombia, together comprising 73% of total imports. Venezuela, Costa Rica, Turkey, Brazil, Germany, the UK and Japan lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2021, the biggest increases were recorded for Venezuela (with a CAGR of +18.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of electronic machines and appliances for testing materials to Colombia, comprising 34% of total imports. The second position in the ranking was taken by Italy ($X), with a 16% share of total imports. It was followed by China, with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to -7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-1.4% per year) and China (+0.9% per year).

Import Prices by Country

The average electronic material tester import price stood at $X per unit in 2021, growing by 46% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per unit), while the price for Venezuela ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Costa Rica (+97.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :