Colombia: Measuring Instrument Market 2022

Measuring Instrument Market Size in Colombia

The Colombian measuring instrument market surged to $X in 2021, increasing by 123% 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, consumption, however, showed a perceptible reduction. Measuring instrument consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Measuring Instrument Exports

Exports from Colombia

Measuring instrument exports from Colombia skyrocketed to X units in 2021, growing by 141% against the year before. In general, exports showed modest growth. The exports peaked at X units in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, measuring instrument exports skyrocketed to $X in 2021. Overall, exports continue to indicate a perceptible expansion. The most prominent rate of growth was recorded in 2019 with an increase of 94%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Ecuador (X units) was the main destination for measuring instrument exports from Colombia, with a 73% share of total exports. Moreover, measuring instrument exports to Ecuador exceeded the volume sent to the second major destination, El Salvador (X units), more than tenfold. The third position in this ranking was held by Israel (X units), with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Ecuador amounted to +18.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (-3.7% per year) and Israel (+98.0% per year).

In value terms, the United States ($X), Ecuador ($X) and Peru ($X) appeared to be the largest markets for measuring instrument exported from Colombia worldwide, together comprising 67% of total exports. These countries were followed by Chile, Israel, El Salvador, Panama and Venezuela, which together accounted for a further 9.2%.

In terms of the main countries of destination, Chile, with a CAGR of +26.2%, saw the highest growth rate of 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 measuring instrument export price amounted to $X per unit, reducing by -39.6% against the previous year. In general, the export price, however, saw a slight increase. The most prominent rate of growth was recorded in 2013 an increase of 74%. The export price peaked at $X per unit in 2020, and then declined notably in the following year.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the United States ($X per unit), while the average price for exports to Panama ($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 El Salvador (+9.9%), while the prices for the other major destinations experienced more modest paces of growth.

Measuring Instrument Imports

Imports into Colombia

Measuring instrument imports into Colombia soared to X units in 2021, jumping by 180% on the previous year's figure. Over the period under review, imports, however, showed a perceptible slump. Over the period under review, imports hit record highs at X units in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, measuring instrument imports surged to $X in 2021. In general, imports, however, showed a mild curtailment. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest measuring instrument supplier to Colombia, accounting for a 52% share of total imports. Moreover, measuring instrument imports from China exceeded the figures recorded by the second-largest supplier, India (X units), sixfold. The third position in this ranking was taken by Italy (X units), with a 7.7% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+5.3% per year) and Italy (-5.6% per year).

In value terms, the United States ($X) constituted the largest supplier of measuring instrument to Colombia, comprising 37% of total imports. The second position in the ranking was taken by Germany ($X), with a 9.4% share of total imports. It was followed by China, with a 7.6% share.

From 2012 to 2021, the average annual growth rate of value from the United States totaled -4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-6.0% per year) and China (+11.7% per year).

Import Prices by Country

In 2021, the average measuring instrument import price amounted to $X per unit, reducing by -32.7% against the previous year. Overall, the import price, however, recorded a slight increase. The growth pace was the most rapid in 2015 an increase of 107% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2020, and then shrank markedly in the following year.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+18.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :