Colombia: Market for Industrial Sewing Machines (Non-Automatic) 2024

Market Size for Industrial Sewing Machines (Non-Automatic) in Colombia

The Colombian industrial sewing machines (non-automatic) market fell notably to $X in 2022, which is down by -20.2% 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). In general, the total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.3% 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 +60.4% against 2020 indices. As a result, consumption attained the peak level of $X, and then shrank remarkably in the following year.

Exports of Industrial Sewing Machines (Non-Automatic)

Exports from Colombia

In 2022, exports of industrial sewing machines (non-automatic) from Colombia soared to X units, increasing by 112% compared with the previous year's figure. In general, exports, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2015 with an increase of 233%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, industrial sewing machines (non-automatic) exports soared to $X in 2022. Overall, exports, however, saw a abrupt slump. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Mexico (X units) was the main destination for industrial sewing machines (non-automatic) exports from Colombia, with a 38% share of total exports. Moreover, industrial sewing machines (non-automatic) exports to Mexico exceeded the volume sent to the second major destination, Italy (X units), threefold. Bolivia (X units) ranked third in terms of total exports with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Mexico amounted to -9.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-6.7% per year) and Bolivia (+2.9% per year).

In value terms, the largest markets for industrial sewing machines (non-automatic) exported from Colombia were Mexico ($X), Bolivia ($X) and Guatemala ($X), with a combined 69% share of total exports.

Among the main countries of destination, Bolivia, with a CAGR of +13.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average industrial sewing machines (non-automatic) export price stood at $X per unit in 2022, growing by 127% against the previous year. In general, the export price saw a relatively flat trend pattern. Over the period under review, the average export prices attained the maximum at $X per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Ecuador ($X per unit), while the average price for exports to Canada ($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 (+16.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Industrial Sewing Machines (Non-Automatic)

Imports into Colombia

Industrial sewing machines (non-automatic) imports into Colombia fell sharply to X units in 2022, declining by -18.4% against the previous year's figure. In general, imports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of 130% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, industrial sewing machines (non-automatic) imports shrank sharply to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 79% against the previous year. As a result, imports reached the peak of $X, and then declined dramatically in the following year.

Imports by Country

In 2022, China (X units) constituted the largest industrial sewing machines (non-automatic) supplier to Colombia, accounting for a 87% share of total imports. Moreover, industrial sewing machines (non-automatic) imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. The third position in this ranking was held by Taiwan (Chinese) (X units), with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+21.1% per year) and Taiwan (Chinese) (+13.8% per year).

In value terms, China ($X), the United States ($X) and Vietnam ($X) appeared to be the largest industrial sewing machines (non-automatic) suppliers to Colombia, together comprising 87% of total imports.

Vietnam, with a CAGR of +35.7%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average industrial sewing machines (non-automatic) import price stood at $X per unit in 2022, waning by -4.4% against the previous year. In general, the import price continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2019 an increase of 72%. 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 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 ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-5.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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