Colombia: Market for Machine-Tools For Working Wood 2024

Market Size for Machine-Tools For Working Wood in Colombia

The Colombian machine-tool for working wood market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption, however, recorded a slight descent. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Exports of Machine-Tools For Working Wood

Exports from Colombia

In 2021, shipments abroad of machine-tools for working wood decreased by -77.6% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports showed a abrupt shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 1,369%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, machine-tool for working wood exports dropped significantly to $X in 2021. Overall, exports recorded a deep contraction. The pace of growth appeared the most rapid in 2017 when exports increased by 830% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Mexico (X tons) was the main destination for machine-tool for working wood exports from Colombia, accounting for a 57% share of total exports. Moreover, machine-tool for working wood exports to Mexico exceeded the volume sent to the second major destination, Costa Rica (X tons), threefold. The United States (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to Mexico totaled +26.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+4.2% per year) and the United States (-18.9% per year).

In value terms, Mexico ($X) remains the key foreign market for machine-tools for working wood exports from Colombia, comprising 38% of total exports. The second position in the ranking was taken by the United States ($X), with a 13% share of total exports. It was followed by Venezuela, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Mexico totaled +15.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-23.7% per year) and Venezuela (-23.3% per year).

Export Prices by Country

The average machine-tool for working wood export price stood at $X per ton in 2021, increasing by 32% against the previous year. Over the period under review, the export price, however, saw a perceptible descent. The most prominent rate of growth was recorded in 2015 an increase of 33% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Costa Rica ($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 Venezuela (+26.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine-Tools For Working Wood

Imports into Colombia

In 2021, purchases abroad of machine-tools for working wood was finally on the rise to reach X tons after three years of decline. Over the period under review, imports continue to indicate a relatively flat trend pattern. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, machine-tool for working wood imports soared to $X in 2021. Overall, imports, however, recorded a perceptible setback. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of machine-tool for working wood to Colombia, accounting for a 62% share of total imports. Moreover, machine-tool for working wood imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), fivefold. The third position in this ranking was held by Germany (X tons), with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +16.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-5.3% per year) and Germany (-12.7% per year).

In value terms, China ($X), Italy ($X) and Germany ($X) were the largest machine-tool for working wood suppliers to Colombia, with a combined 69% share of total imports. These countries were followed by the Czech Republic, Taiwan (Chinese), Austria, the United States and Spain, which together accounted for a further 15%.

The Czech Republic, with a CAGR of +35.6%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average machine-tool for working wood import price stood at $X per ton in 2021, with an increase of 3.1% against the previous year. Over the period under review, the import price, however, showed a noticeable slump. The growth pace was the most rapid in 2018 an increase of 31% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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 Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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