Colombia: Wire And Cable Market 2024

Wire And Cable Market Size in Colombia

The Colombian wire and cable market was finally on the rise to reach $X in 2021, after three years of decline. Overall, consumption, however, recorded a noticeable downturn. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Wire And Cable Exports

Exports from Colombia

In 2021, the amount of insulated wire and cable exported from Colombia skyrocketed to X tons, rising by 32% on the previous year's figure. Over the period under review, total exports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +78.0% against 2012 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, wire and cable exports soared to $X in 2021. Overall, total exports indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Ecuador (X tons), Peru (X tons) and the United States (X tons) were the main destinations of wire and cable exports from Colombia, together accounting for 78% of total exports. Chile, Brazil, Paraguay and Panama lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2021, the biggest increases were recorded for Paraguay (with a CAGR of +300.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ecuador ($X), Peru ($X) and the United States ($X) appeared to be the largest markets for wire and cable exported from Colombia worldwide, together comprising 83% of total exports. These countries were followed by Chile, Brazil, Paraguay and Panama, which together accounted for a further 13%.

In terms of the main countries of destination, Paraguay, with a CAGR of +254.7%, saw 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 wire and cable export price amounted to $X per ton, rising by 37% against the previous year. Overall, the export price, however, saw a pronounced curtailment. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Paraguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+0.0%), while the prices for the other major destinations experienced a decline.

Wire And Cable Imports

Imports into Colombia

In 2021, wire and cable imports into Colombia surged to X tons, picking up by 24% on 2020. The total import volume increased at an average annual rate of +1.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when imports increased by 33%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, wire and cable imports soared to $X in 2021. In general, imports, however, recorded a slight decline. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of wire and cable to Colombia, accounting for a 50% share of total imports. Moreover, wire and cable imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X tons), threefold. The third position in this ranking was held by Brazil (X tons), with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-2.9% per year) and Brazil (+3.8% per year).

In value terms, China ($X) constituted the largest supplier of insulated wire and cable to Colombia, comprising 40% of total imports. The second position in the ranking was taken by Mexico ($X), with an 18% share of total imports. It was followed by the United States, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-3.8% per year) and the United States (-9.6% per year).

Import Prices by Country

The average wire and cable import price stood at $X per ton in 2021, growing by 13% against the previous year. Overall, the import price, however, saw a perceptible downturn. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+2.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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