Colombia: Test And Measurement Market 2025

Test And Measurement Market Size in Colombia

In 2021, the Colombian test and measurement market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Test And Measurement Exports

Exports from Colombia

In 2021, shipments abroad of instruments and apparatus for measuring or checking pressure of liquids or gasses increased by 3.4% to X units, rising for the second year in a row after two years of decline. In general, exports continue to indicate a strong expansion. The growth pace was the most rapid in 2020 with an increase of 536%. Over the period under review, the exports attained the peak figure at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, test and measurement exports surged to $X in 2021. Overall, exports saw a strong expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 183%. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

The United States (X units), Ecuador (X units) and Honduras (X units) were the main destinations of test and measurement exports from Colombia, together accounting for 65% of total exports.

From 2012 to 2021, the biggest increases were recorded for Honduras (with a CAGR of +137.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for test and measurement exported from Colombia were the United States ($X), Chile ($X) and Ecuador ($X), together accounting for 51% of total exports. El Salvador, Japan, Honduras, Panama and Venezuela lagged somewhat behind, together comprising a further 13%.

In terms of the main countries of destination, Honduras, with a CAGR of +128.5%, 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

In 2021, the average test and measurement export price amounted to $X per unit, growing by 23% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2019 an increase of 155% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2020 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Chile ($X per unit), while the average price for exports to Panama ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (+9.9%), while the prices for the other major destinations experienced mixed trend patterns.

Test And Measurement Imports

Imports into Colombia

In 2021, purchases abroad of instruments and apparatus for measuring or checking pressure of liquids or gasses increased by 31% to X units for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Imports peaked at X units in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, test and measurement imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when imports increased by 33%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X units), the United States (X units) and India (X units) were the main suppliers of test and measurement imports to Colombia, with a combined 36% share of total imports. Taiwan (Chinese), Italy, South Korea, Brazil, Mexico, Germany, Japan, Russia, the United Arab Emirates and Venezuela lagged somewhat behind, together accounting for a further 54%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Russia (with a CAGR of +121.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of instruments and apparatus for measuring or checking pressure of liquids or gasses to Colombia, comprising 33% of total imports. The second position in the ranking was held by China ($X), with a 14% share of total imports. It was followed by Germany, with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at -4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.0% per year) and Germany (+6.7% per year).

Import Prices by Country

In 2021, the average test and measurement import price amounted to $X per unit, with a decrease of -9.3% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 22% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, 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 the United States ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+16.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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