Colombia: Market for Machines For Preparing, Weaving And Knitting Textiles 2024

Market Size for Machines For Preparing, Weaving And Knitting Textiles in Colombia

The Colombian market for machines for preparing, weaving and knitting textiles skyrocketed to $X in 2021, increasing by 59% 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). In general, consumption, however, recorded a relatively flat trend pattern. Textile weaving and knitting machinery consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Exports of Machines For Preparing, Weaving And Knitting Textiles

Exports from Colombia

For the third year in a row, Colombia recorded decline in overseas shipments of machines for preparing, weaving and knitting textiles, which decreased by -37.5% to X units in 2021. Overall, exports faced a sharp shrinkage. The most prominent rate of growth was recorded in 2014 when exports increased by 106% against the previous year. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, textile weaving and knitting machinery exports shrank sharply to $X in 2021. In general, exports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2018 when exports increased by 116%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Mexico (X units) was the main destination for textile weaving and knitting machinery exports from Colombia, accounting for a 55% share of total exports. Moreover, textile weaving and knitting machinery 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 the Dominican Republic (X units), with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Mexico amounted to +3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+23.0% per year) and the Dominican Republic (+44.8% per year).

In value terms, the largest markets for textile weaving and knitting machinery exported from Colombia were India ($X), Pakistan ($X) and Mexico ($X), with a combined 50% share of total exports.

Mexico, with a CAGR of +34.6%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for machines for preparing, weaving and knitting textiles amounted to $X per unit, which is down by -27.7% against the previous year. Overall, the export price, however, enjoyed prominent growth. The growth pace was the most rapid in 2013 when the average export price increased by 240% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was El Salvador ($X per unit), while the average price for exports to Mexico ($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 El Salvador (+33.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machines For Preparing, Weaving And Knitting Textiles

Imports into Colombia

In 2021, imports of machines for preparing, weaving and knitting textiles into Colombia soared to X units, rising by 45% compared with 2020. Over the period under review, imports, however, recorded a relatively flat trend pattern. Imports peaked at X units in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, textile weaving and knitting machinery imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a noticeable reduction. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

China (X units), Japan (X units) and Germany (X units) were the main suppliers of textile weaving and knitting machinery imports to Colombia, together comprising 88% of total imports. Italy, Vietnam, the United States, Taiwan (Chinese) and Spain lagged somewhat behind, together comprising a further 10%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +192.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest textile weaving and knitting machinery suppliers to Colombia were Japan ($X), China ($X) and Germany ($X), with a combined 65% share of total imports. Italy, Taiwan (Chinese), Vietnam, the United States and Spain lagged somewhat behind, together accounting for a further 17%.

Vietnam, with a CAGR of +226.5%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average import price for machines for preparing, weaving and knitting textiles stood at $X per unit in 2021, with an increase of 15% against the previous year. Over the period under review, the import price, however, showed a mild downturn. The pace of growth was the most pronounced in 2015 an increase of 26% against the previous year. As a result, import price attained the peak level of $X per unit. From 2016 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :