Colombia: Market for Lathes For Removing Metal 2024

Market Size for Lathes For Removing Metal in Colombia

The Colombian lathe for removing metal market skyrocketed to $X in 2021, surging by 75% 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, consumption, however, continues to indicate a pronounced decline. Lathe for removing metal consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Exports of Lathes For Removing Metal

Exports from Colombia

In 2021, after two years of growth, there was significant decline in shipments abroad of lathes for removing metal, when their volume decreased by -54.1% to X units. Overall, exports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 1,550% against the previous year. Over the period under review, the lafor removing metal exports hit record highs at X units in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, lathe for removing metal exports dropped markedly to $X in 2021. Over the period under review, exports, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2019 with an increase of 729%. Over the period under review, the lafor removing metal exports attained the maximum at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Venezuela (X units) was the main destination for lathe for removing metal exports from Colombia, accounting for a 65% share of total exports. Moreover, lathe for removing metal exports to Venezuela exceeded the volume sent to the second major destination, Italy (X units), sixfold. The third position in this ranking was held by Peru (X units), with a 5.9% share.

From 2012 to 2021, the average annual growth rate of volume to Venezuela totaled +40.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+9.1% per year) and Peru (0.0% per year).

In value terms, Venezuela ($X) emerged as the key foreign market for lathes for removing metal exports from Colombia, comprising 79% of total exports. The second position in the ranking was held by Chile ($X), with an 8.1% share of total exports. It was followed by Italy, with a 3.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Venezuela stood at +60.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (-1.2% per year) and Italy (+42.5% per year).

Export Prices by Country

The average lathe for removing metal export price stood at $X per unit in 2021, picking up by 57% against the previous year. In general, the export price, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2016 an increase of 291%. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Venezuela ($X per unit), while the average price for exports to Costa Rica ($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 Mexico (+157.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Lathes For Removing Metal

Imports into Colombia

In 2021, purchases abroad of lathes for removing metal increased by 41% to X units, rising for the fourth year in a row after three years of decline. Overall, imports, however, showed a perceptible setback. The growth pace was the most rapid in 2019 when imports increased by 63% against the previous year. Over the period under review, lafor removing metal imports hit record highs at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, lathe for removing metal imports skyrocketed to $X in 2021. Over the period under review, imports, however, continue to indicate a abrupt curtailment. Over the period under review, lafor removing metal imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest lathe for removing metal supplier to Colombia, with a 76% share of total imports. Moreover, lathe for removing metal imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. Peru (X units) ranked third in terms of total imports with a 3% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at -2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+0.4% per year) and Peru (+83.8% per year).

In value terms, the largest lathe for removing metal suppliers to Colombia were China ($X), Japan ($X) and Taiwan (Chinese) ($X), with a combined 62% share of total imports. The United States, Peru, Spain, Canada and Germany lagged somewhat behind, together comprising a further 12%.

Peru, with a CAGR of +176.4%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average lathe for removing metal import price stood at $X per unit in 2021, picking up by 46% against the previous year. Overall, the import price, however, recorded a perceptible contraction. The import price peaked at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Canada ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+8.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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