Colombia: Non-Combined Refrigerator-Freezer Market 2024

Non-Combined Refrigerator-Freezer Market Size in Colombia

The Colombian non-combined refrigerator-freezer market stood at $X in 2022, picking up by 6.5% against the previous year. The market value increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Non-Combined Refrigerator-Freezer Production in Colombia

In value terms, non-combined refrigerator-freezer production rose rapidly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.0% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 29%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Non-Combined Refrigerator-Freezer Exports

Exports from Colombia

In 2022, exports of household refrigerators and freezers (not combined) from Colombia fell dramatically to X units, dropping by -22.4% against the previous year. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 96%. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-combined refrigerator-freezer exports shrank sharply to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by 84% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

El Salvador (X units) was the main destination for non-combined refrigerator-freezer exports from Colombia, accounting for a 43% share of total exports. Moreover, non-combined refrigerator-freezer exports to El Salvador exceeded the volume sent to the second major destination, Guatemala (X units), twofold. Honduras (X units) ranked third in terms of total exports with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to El Salvador totaled +180.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+25.7% per year) and Honduras (+18.0% per year).

In value terms, El Salvador ($X) remains the key foreign market for household refrigerators and freezers (not combined) exports from Colombia, comprising 42% of total exports. The second position in the ranking was held by Guatemala ($X), with an 18% share of total exports. It was followed by Honduras, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value to El Salvador amounted to +201.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+20.2% per year) and Honduras (+13.0% per year).

Export Prices by Country

In 2022, the average non-combined refrigerator-freezer export price amounted to $X per unit, with an increase of 6.6% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average export price increased by 17% against the previous year. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Ecuador ($X per unit) and the Dominican Republic ($X per unit), while the average price for exports to Nicaragua ($X per unit) and Guatemala ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Chile (+15.1%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Combined Refrigerator-Freezer Imports

Imports into Colombia

In 2022, the amount of household refrigerators and freezers (not combined) imported into Colombia shrank to X units, which is down by -7.8% on the previous year's figure. Over the period under review, imports recorded a noticeable reduction. The pace of growth was the most pronounced in 2018 with an increase of 133%. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, non-combined refrigerator-freezer imports contracted markedly to $X in 2022. In general, imports showed a abrupt setback. The most prominent rate of growth was recorded in 2021 with an increase of 47% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) was the main non-combined refrigerator-freezer supplier to Colombia, accounting for a 94% share of total imports. It was followed by Brazil (X units), with a 1.9% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China stood at +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-5.4% per year) and Mexico (-43.4% per year).

In value terms, China ($X) constituted the largest supplier of household refrigerators and freezers (not combined) to Colombia, comprising 87% of total imports. The second position in the ranking was taken by Brazil ($X), with a 1.6% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-8.5% per year) and Mexico (-40.5% per year).

Import Prices by Country

In 2022, the average non-combined refrigerator-freezer import price amounted to $X per unit, shrinking by -8.8% against the previous year. Overall, the import price recorded a noticeable contraction. The pace of growth was the most pronounced in 2020 when the average import price increased by 30%. Over the period under review, average import prices reached the peak figure at $X per unit in 2014; however, from 2015 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 Mexico ($X per unit), while the price for Brazil ($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 (+5.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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