Colombia: Heat Exchange Unit Market 2024

Heat Exchange Unit Exports

Exports from Colombia

In 2022, shipments abroad of heat exchange units increased by 6.1% to X units for the first time since 2018, thus ending a three-year declining trend. Over the period under review, exports continue to indicate a perceptible increase. The most prominent rate of growth was recorded in 2018 with an increase of 102%. As a result, the exports reached the peak of X units. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, heat exchange unit exports stood at $X in 2022. Overall, exports recorded a strong expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 69%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for heat exchange unit exports from Colombia, accounting for a 50% share of total exports. Moreover, heat exchange unit exports to the United States exceeded the volume sent to the second major destination, Ecuador (X units), threefold. The third position in this ranking was taken by Peru (X units), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +21.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+14.4% per year) and Peru (-6.8% per year).

In value terms, the United States ($X) remains the key foreign market for heat exchange units exports from Colombia, comprising 51% of total exports. The second position in the ranking was taken by Ecuador ($X), with a 15% share of total exports. It was followed by Mexico, with an 8.3% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +36.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+23.1% per year) and Mexico (-8.5% per year).

Export Prices by Country

In 2022, the average heat exchange unit export price amounted to $X per unit, with an increase of 4.9% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 28% against the previous year. 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 Mexico ($X per unit), while the average price for exports to Chile ($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 Free Zones (+55.6%), while the prices for the other major destinations experienced more modest paces of growth.

Heat Exchange Unit Imports

Imports into Colombia

Heat exchange unit imports into Colombia fell to X units in 2022, which is down by -11.2% on the year before. Overall, total imports indicated a strong increase from 2012 to 2022: its volume 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, imports increased by +9.9% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of 55% against the previous year. Over the period under review, imports attained the maximum at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, heat exchange unit imports declined markedly to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 50% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

India (X units), the United States (X units) and China (X units) were the main suppliers of heat exchange unit imports to Colombia, with a combined 61% share of total imports. These countries were followed by Brazil, Italy, Germany, Sweden, France, Slovenia and Mexico, which together accounted for a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovenia (with a CAGR of +50.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of heat exchange units to Colombia, comprising 48% of total imports. The second position in the ranking was taken by Brazil ($X), with a 9.4% share of total imports. It was followed by China, with an 8% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+16.5% per year) and China (+14.8% per year).

Import Prices by Country

The average heat exchange unit import price stood at $X per unit in 2022, declining by -6.1% against the previous year. In general, the import price recorded a noticeable setback. The most prominent rate of growth was recorded in 2021 when the average import price increased by 21%. Over the period under review, average import prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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