Colombia: Crude Granite Market 2024

Crude Granite Market Size in Colombia

The Colombian crude granite market reduced modestly to $X in 2022, standing approx. at the previous year. In general, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -20.1% against 2017 indices. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Crude Granite Production in Colombia

In value terms, crude granite production reached $X in 2022 estimated in export price. Over the period under review, production, however, saw resilient growth. The pace of growth appeared the most rapid in 2017 when the production volume increased by 73%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Crude Granite Exports

Exports from Colombia

In 2022, the amount of granite (crude) exported from Colombia shrank to X tons, which is down by -8.2% on the previous year. Overall, exports showed a abrupt contraction. The most prominent rate of growth was recorded in 2018 with an increase of 78% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, crude granite exports declined to $X in 2022. Over the period under review, exports, however, recorded a noticeable increase. The pace of growth was the most pronounced in 2016 when exports increased by 90% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Venezuela (X tons) was the main destination for crude granite exports from Colombia, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Venezuela amounted to +14.3%.

In value terms, Venezuela ($X) emerged as the key foreign market for granite (crude) exports from Colombia.

From 2012 to 2022, the average annual rate of growth in terms of value to Venezuela stood at +38.7%.

Export Prices by Country

In 2022, the average crude granite export price amounted to $X per ton, growing by 2% against the previous year. In general, the export price continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2017 an increase of 139%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Curacao amounted to +283.2% per year.

Crude Granite Imports

Imports into Colombia

For the fourth year in a row, Colombia recorded growth in supplies from abroad of granite (crude), which increased by 285% to X tons in 2022. In general, imports recorded a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, crude granite imports skyrocketed to $X in 2022. Overall, imports recorded a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Venezuela (X tons) constituted the largest supplier of crude granite to Colombia, with a 55% share of total imports. Moreover, crude granite imports from Venezuela exceeded the figures recorded by the second-largest supplier, Guatemala (X tons), threefold. The third position in this ranking was taken by the United States (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Venezuela totaled +22.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Guatemala (+53.1% per year) and the United States (+138.3% per year).

In value terms, Venezuela ($X) constituted the largest supplier of granite (crude) to Colombia, comprising 67% of total imports. The second position in the ranking was held by Guatemala ($X), with an 8.7% share of total imports. It was followed by the United States, with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Venezuela totaled +32.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Guatemala (+49.0% per year) and the United States (+59.1% per year).

Import Prices by Country

In 2022, the average crude granite import price amounted to $X per ton, picking up by 23% against the previous year. Overall, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 an increase of 36%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

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 India ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+17.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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