Colombia: Market for Liquefied Petroleum Gas (LPG) 2025

Market Size for Liquefied Petroleum Gas (LPG) in Colombia

In 2022, after two years of growth, there was significant decline in the Colombian liquefied petroleum gas (LPG) market, when its value decreased by -32.3% to $X. Overall, consumption showed a slight downturn. As a result, consumption reached the peak level of $X, and then fell remarkably in the following year.

Production of Liquefied Petroleum Gas (LPG) in Colombia

In value terms, liquefied petroleum gas (LPG) production amounted to $X in 2022 estimated in export price. Overall, production showed a significant decrease. The pace of growth appeared the most rapid in 2017 with an increase of 379,881,200% against the previous year. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Liquefied Petroleum Gas (LPG)

Exports from Colombia

In 2022, approx. X tons of liquefied petroleum gas (LPG) were exported from Colombia; which is down by -3.8% on 2021. Over the period under review, exports, however, continue to indicate measured growth. The pace of growth was the most pronounced in 2013 with an increase of 1,187%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, liquefied petroleum gas (LPG) exports reduced slightly to $X in 2022. Overall, exports recorded a slight descent. The growth pace was the most rapid in 2013 with an increase of 772% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The Dominican Republic (X tons) was the main destination for liquefied petroleum gas (LPG) exports from Colombia, with a 81% share of total exports. Moreover, liquefied petroleum gas (LPG) exports to the Dominican Republic exceeded the volume sent to the second major destination, Costa Rica (X tons), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Dominican Republic amounted to +11.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+18.8% per year) and Panama (-22.3% per year).

In value terms, the Dominican Republic ($X) remains the key foreign market for liquefied petroleum gas (LPG) exports from Colombia, comprising 80% of total exports. The second position in the ranking was held by Costa Rica ($X), with a 17% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the Dominican Republic totaled +4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+11.3% per year) and Panama (-35.4% per year).

Export Prices by Country

In 2022, the average liquefied petroleum gas (LPG) export price amounted to $X per ton, approximately mirroring the previous year. Overall, the export price recorded a deep slump. The most prominent rate of growth was recorded in 2017 an increase of 23% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, 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 Costa Rica ($X per ton), while the average price for exports to Panama ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Morocco (+2.3%), while the prices for the other major destinations experienced a decline.

Imports of Liquefied Petroleum Gas (LPG)

Imports into Colombia

In 2022, overseas purchases of liquefied petroleum gas (LPG) decreased by -20.8% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, recorded a modest expansion. The growth pace was the most rapid in 2016 when imports increased by 171% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, liquefied petroleum gas (LPG) imports declined notably to $X in 2022. In general, imports continue to indicate a mild decrease. The pace of growth appeared the most rapid in 2021 with an increase of 221%. As a result, imports attained the peak of $X, and then dropped rapidly in the following year.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of liquefied petroleum gas (LPG) to Colombia, with a 51% share of total imports. Moreover, liquefied petroleum gas (LPG) imports from the United States exceeded the figures recorded by the second-largest supplier, the Dominican Republic (X tons), threefold. Chile (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to +41.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Dominican Republic (+7.0% per year) and Chile (+934.8% per year).

In value terms, the United States ($X) constituted the largest supplier of liquefied petroleum gas (LPG) to Colombia, comprising 40% of total imports. The second position in the ranking was taken by Chile ($X), with a 19% share of total imports. It was followed by the Dominican Republic, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled +18.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+487.2% per year) and the Dominican Republic (-5.4% per year).

Import Prices by Country

In 2022, the average liquefied petroleum gas (LPG) import price amounted to $X per ton, declining by -17.7% against the previous year. Overall, the import price continues to indicate a noticeable decrease. The pace of growth was the most pronounced in 2021 an increase of 87%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Chile ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Free Zones (+0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform