Colombia: Market for Leather of Bovine and Equine Animals 2024

Market Size for Leather of Bovine and Equine Animals in Colombia

In 2021, the Colombian bovine and equine leather market decreased by -82.8% to $X, falling for the seventh year in a row after three years of growth. Overall, consumption showed a sharp decline. Bovine and equine leather consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Production of Leather of Bovine and Equine Animals in Colombia

In value terms, bovine and equine leather production expanded significantly to $X in 2021 estimated in export price. In general, production, however, saw a abrupt slump. The pace of growth was the most pronounced in 2014 when the production volume increased by 22% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Exports of Leather of Bovine and Equine Animals

Exports from Colombia

In 2021, overseas shipments of leather of bovine and equine animals were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports, however, recorded a slight slump. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, bovine and equine leather exports surged to $X in 2021. In general, exports, however, saw a abrupt curtailment. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Italy (X tons), China (X tons) and Vietnam (X tons) were the main destinations of bovine and equine leather exports from Colombia, with a combined 51% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +17.7%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for bovine and equine leather exported from Colombia were Italy ($X), China ($X) and Vietnam ($X), with a combined 45% share of total exports.

Among the main countries of destination, Vietnam, with a CAGR of +3.8%, 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 a decline.

Export Prices by Country

In 2021, the average bovine and equine leather export price amounted to $X per ton, increasing by 17% against the previous year. In general, the export price, however, saw a deep contraction. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 Spain (-1.1%), while the prices for the other major destinations experienced a decline.

Imports of Leather of Bovine and Equine Animals

Imports into Colombia

In 2021, the amount of leather of bovine and equine animals imported into Colombia skyrocketed to X tons, rising by 33% against the previous year. Overall, imports, however, continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2018 when imports increased by 57% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, bovine and equine leather imports surged to $X in 2021. Over the period under review, imports, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2018 with an increase of 88% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Panama (X tons) constituted the largest supplier of bovine and equine leather to Colombia, with a 63% share of total imports. Moreover, bovine and equine leather imports from Panama exceeded the figures recorded by the second-largest supplier, Brazil (X tons), sevenfold. The third position in this ranking was taken by Mexico (X tons), with a 6.9% share.

From 2012 to 2021, the average annual growth rate of volume from Panama totaled -8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+7.7% per year) and Mexico (+23.8% per year).

In value terms, Ecuador ($X), Panama ($X) and Chile ($X) appeared to be the largest bovine and equine leather suppliers to Colombia, together accounting for 53% of total imports.

Among the main suppliers, Ecuador, with a CAGR of +7.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average bovine and equine leather import price amounted to $X per ton, declining by -9.3% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 25%. The import price peaked at $X per ton in 2014; however, from 2015 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 ($X per ton), while the price for Panama ($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 (+18.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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