Colombia: Public Works Machinery Market 2024

Public Works Machinery Market Size in Colombia

The Colombian public works machinery market soared to $X in 2021, rising by 89% 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, recorded a abrupt downturn. Public works machinery consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Public Works Machinery Exports

Exports from Colombia

In 2021, the amount of machinery for public works and building exported from Colombia fell remarkably to X units, dropping by -35.3% on the year before. Over the period under review, exports showed a abrupt slump. The most prominent rate of growth was recorded in 2017 when exports increased by 1,000% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, public works machinery exports contracted modestly to $X in 2021. In general, exports faced a abrupt slump. The most prominent rate of growth was recorded in 2017 with an increase of 1,542%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Peru (X units) was the main destination for public works machinery exports from Colombia, with a 45% share of total exports. Moreover, public works machinery exports to Peru exceeded the volume sent to the second major destination, Spain (X units), threefold. Paraguay (X units) ranked third in terms of total exports with an 18% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Peru amounted to -5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+26.0% per year) and Paraguay (0.0% per year).

In value terms, Peru ($X), Paraguay ($X) and the Dominican Republic ($X) were the largest markets for public works machinery exported from Colombia worldwide, together accounting for 97% of total exports. These countries were followed by Spain and Ecuador, which together accounted for a further 3.4%.

In terms of the main countries of destination, Spain, with a CAGR of +41.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average public works machinery export price stood at $X per unit in 2021, with an increase of 52% against the previous year. Overall, the export price saw a strong increase. The pace of growth appeared the most rapid in 2019 when the average export price increased by 69% against the previous year. The export price peaked in 2021 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Paraguay ($X per unit), while the average price for exports to Spain ($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 Guatemala (+41.8%), while the prices for the other major destinations experienced more modest paces of growth.

Public Works Machinery Imports

Imports into Colombia

In 2021, imports of machinery for public works and building into Colombia soared to X units, picking up by 63% on 2020. In general, imports, however, continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2019 when imports increased by 188% against the previous year. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, public works machinery imports surged to $X in 2021. Overall, imports, however, faced a abrupt contraction. Over the period under review, 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 public works machinery supplier to Colombia, with a 86% share of total imports. Moreover, public works machinery imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), more than tenfold. The United States (X units) ranked third in terms of total imports with a 3.6% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +11.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-12.4% per year) and the United States (-17.8% per year).

In value terms, Germany ($X) constituted the largest supplier of machinery for public works and building to Colombia, comprising 67% of total imports. The second position in the ranking was held by the United States ($X), with a 9.2% share of total imports. It was followed by China, with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-18.4% per year) and China (+24.5% per year).

Import Prices by Country

In 2021, the average public works machinery import price amounted to $X per unit, with an increase of 95% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 251% against the previous year. As a result, import price attained the peak level of $X per unit. From 2018 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (+33.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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