Colombia: Ink-Pad Market 2024

Ink-Pad Market Size in Colombia

The Colombian ink-pad market fell to $X in 2022, shrinking by -5.7% 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 increase from 2012 to 2022: its value increased at an average annual rate of +3.0% 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 +1.1% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Ink-Pad Exports

Exports from Colombia

In 2022, approx. X units of ink-pads were exported from Colombia; jumping by 92% on the previous year's figure. Over the period under review, exports, however, faced a deep downturn. The growth pace was the most rapid in 2016 when exports increased by 3,539% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, ink-pad exports reached $X in 2022. Overall, exports, however, showed a precipitous descent. The growth pace was the most rapid in 2016 with an increase of 4,046%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Chile (X units) was the main destination for ink-pad exports from Colombia, accounting for a 87% share of total exports. Moreover, ink-pad exports to Chile exceeded the volume sent to the second major destination, Peru (X units), more than tenfold. Ecuador (X units) ranked third in terms of total exports with a 3.8% share.

From 2012 to 2022, the average annual growth rate of volume to Chile amounted to +10.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (-28.0% per year) and Ecuador (-7.9% per year).

In value terms, Chile ($X) remains the key foreign market for ink-pads exports from Colombia, comprising 75% of total exports. The second position in the ranking was taken by Ecuador ($X), with a 14% share of total exports. It was followed by Peru, with a 7.1% share.

From 2012 to 2022, the average annual growth rate of value to Chile stood at -8.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-12.7% per year) and Peru (-38.0% per year).

Export Prices by Country

The average ink-pad export price stood at $X per unit in 2022, with a decrease of -41.5% against the previous year. In general, the export price recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2021 an increase of 102% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas 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 Panama (less than $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 Ecuador (-5.2%), while the prices for the other major destinations experienced a decline.

Ink-Pad Imports

Imports into Colombia

Ink-pad imports into Colombia reduced slightly to X units in 2022, dropping by -3.6% compared with the year before. Overall, imports, however, recorded a resilient increase. The pace of growth was the most pronounced in 2017 when imports increased by 115%. Over the period under review, imports reached the maximum at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, ink-pad imports dropped to $X in 2022. In general, imports showed a slight slump. The growth pace was the most rapid in 2013 with an increase of 36% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of ink-pad to Colombia, with a 83% share of total imports. Moreover, ink-pad imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), more than tenfold. The third position in this ranking was held by Austria (X units), with a 2.3% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +10.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+3.5% per year) and Austria (+1.2% per year).

In value terms, China ($X) constituted the largest supplier of ink-pads to Colombia, comprising 48% of total imports. The second position in the ranking was held by the United States ($X), with an 11% share of total imports. It was followed by Taiwan (Chinese), with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-14.6% per year) and Taiwan (Chinese) (+4.8% per year).

Import Prices by Country

The average ink-pad import price stood at $X per unit in 2022, with a decrease of -5.3% against the previous year. Overall, the import price showed a deep slump. The growth pace was the most rapid in 2021 when the average import price increased by 21%. The import price peaked at $X per unit in 2015; however, from 2016 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 Panama (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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