Colombia: Machinery For Packing Market 2024

Machinery For Packing Market Size in Colombia

In 2022, the Colombian machinery for packing market increased by 24% to $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption showed a tangible expansion. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Machinery For Packing Exports

Exports from Colombia

In 2022, overseas shipments of machinery for packing or wrapping were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2015 with an increase of 429% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, machinery for packing exports surged to $X in 2022. In general, exports, however, continue to indicate a deep setback. The pace of growth appeared the most rapid in 2015 with an increase of 423% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Mexico (X units) was the main destination for machinery for packing exports from Colombia, with a 60% share of total exports. Moreover, machinery for packing exports to Mexico exceeded the volume sent to the second major destination, Ecuador (X units), threefold. The third position in this ranking was taken by Panama (X units), with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Mexico totaled +38.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-7.9% per year) and Panama (-5.1% per year).

In value terms, Mexico ($X) emerged as the key foreign market for machinery for packing or wrapping exports from Colombia, comprising 55% of total exports. The second position in the ranking was taken by Venezuela ($X), with a 14% share of total exports. It was followed by Costa Rica, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Mexico stood at +33.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (-17.5% per year) and Costa Rica (-4.2% per year).

Export Prices by Country

In 2022, the average machinery for packing export price amounted to $X per unit, falling by -16.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2018 an increase of 28%. The export price peaked at $X per unit in 2021, and then contracted markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Venezuela ($X per unit), while the average price for exports to Ecuador ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+11.0%), while the prices for the other major destinations experienced more modest paces of growth.

Machinery For Packing Imports

Imports into Colombia

After two years of decline, purchases abroad of machinery for packing or wrapping increased by 16% to X units in 2022. In general, imports saw tangible growth. The pace of growth appeared the most rapid in 2019 when imports increased by 70%. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, machinery for packing imports soared to $X in 2022. Overall, imports showed a perceptible increase. The most prominent rate of growth was recorded in 2019 when imports increased by 101% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of machinery for packing to Colombia, with a 45% share of total imports. Moreover, machinery for packing imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), threefold. Germany (X units) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +12.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-0.3% per year) and Germany (+3.7% per year).

In value terms, Germany ($X), Italy ($X) and China ($X) were the largest machinery for packing suppliers to Colombia, together accounting for 52% of total imports. The United States, Brazil, the Netherlands, Spain and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 37%.

Among the main suppliers, Spain, with a CAGR of +14.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average machinery for packing import price stood at $X per unit in 2022, surging by 11% against the previous year. In general, the import price, however, recorded a slight slump. The pace of growth appeared the most rapid in 2019 when the average import price increased by 18%. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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