Colombia: Non-Electric Motor Handtools Market 2024

Non-Electric Motor Handtools Market Size in Colombia

The Colombian non-electric motor handtools market plummeted to $X in 2022, with a decrease of -21.2% 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). Over the period under review, the total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +2.8% 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 +113.2% against 2016 indices. As a result, consumption attained the peak level of $X, and then shrank sharply in the following year.

Non-Electric Motor Handtools Exports

Exports from Colombia

Non-electric motor handtools exports from Colombia soared to X units in 2022, growing by 270% compared with the previous year. In general, exports, however, continue to indicate a relatively flat trend pattern. Over the period under review, the exports attained the peak figure at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, non-electric motor handtools exports soared to $X in 2022. Overall, exports, however, saw a pronounced contraction. The most prominent rate of growth was recorded in 2020 with an increase of 250%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Argentina (X units) was the main destination for non-electric motor handtools exports from Colombia, with a 67% share of total exports. Moreover, non-electric motor handtools exports to Argentina exceeded the volume sent to the second major destination, Mexico (X units), fourfold. The third position in this ranking was held by the United States (X units), with a 7.2% share.

From 2012 to 2022, the average annual growth rate of volume to Argentina amounted to +342.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+22.3% per year) and the United States (-14.3% per year).

In value terms, the largest markets for non-electric motor handtools exported from Colombia were Mexico ($X), Argentina ($X) and the United States ($X), with a combined 86% share of total exports.

Argentina, with a CAGR of +369.5%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average non-electric motor handtools export price amounted to $X per unit, shrinking by -22% against the previous year. In general, the export price showed a pronounced decrease. The most prominent rate of growth was recorded in 2020 an increase of 53%. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Cuba ($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 Mexico (+26.8%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Electric Motor Handtools Imports

Imports into Colombia

In 2022, imports of handtools, hydraulic or with a self-contained non-electric motor into Colombia dropped sharply to X units, falling by -19.3% on the previous year's figure. Over the period under review, imports, however, recorded a strong increase. The growth pace was the most rapid in 2017 when imports increased by 107% against the previous year. Over the period under review, imports hit record highs at X units in 2021, and then contracted significantly in the following year.

In value terms, non-electric motor handtools imports shrank significantly to $X in 2022. In general, total imports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.6% 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 +38.8% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 78%. As a result, imports reached the peak of $X, and then declined rapidly in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of non-electric motor handtools to Colombia, accounting for a 60% share of total imports. Moreover, non-electric motor handtools imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X units), twofold. Japan (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+18.8% per year) and Japan (-5.0% per year).

In value terms, the largest non-electric motor handtools suppliers to Colombia were Brazil ($X), China ($X) and Japan ($X), with a combined 90% share of total imports.

In terms of the main suppliers, Brazil, with a CAGR of +16.1%, recorded the highest growth rate of 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

In 2022, the average non-electric motor handtools import price amounted to $X per unit, waning by -3.2% against the previous year. In general, the import price recorded a noticeable setback. The most prominent rate of growth was recorded in 2014 when the average import price increased by 33% against the previous year. The import price peaked at $X per unit 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 Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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