Colombia: Metal Cutting Shear Market 2024

Metal Cutting Shear Market Size in Colombia

The Colombian metal cutting shear market contracted notably to $X in 2022, which is down by -22% 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, showed a moderate expansion. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Metal Cutting Shear Exports

Exports from Colombia

In 2022, overseas shipments of metal cutting shears and similar hand tools were finally on the rise to reach X tons after two years of decline. Overall, exports, however, recorded a deep reduction. The growth pace was the most rapid in 2018 with an increase of 168%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, metal cutting shear exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2018 with an increase of 164%. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Peru (X tons) was the main destination for metal cutting shear exports from Colombia, with a 67% share of total exports. Moreover, metal cutting shear exports to Peru exceeded the volume sent to the second major destination, Costa Rica (X kg), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Peru was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+6.7% per year) and Honduras (+175.3% per year).

In value terms, Peru ($X) emerged as the key foreign market for metal cutting shears and similar hand tools exports from Colombia, comprising 63% of total exports. The second position in the ranking was taken by Honduras ($X), with a 24% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Peru totaled +3.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+146.4% per year) and Costa Rica (+6.9% per year).

Export Prices by Country

In 2022, the average metal cutting shear export price amounted to $X per ton, surging by 19% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 78%. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Honduras ($X per ton), while the average price for exports to Costa Rica ($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 Guatemala (+11.8%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Cutting Shear Imports

Imports into Colombia

Metal cutting shear imports into Colombia declined significantly to X tons in 2022, with a decrease of -20.4% compared with 2021. In general, imports, however, enjoyed temperate growth. The most prominent rate of growth was recorded in 2014 when imports increased by 100% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, metal cutting shear imports declined significantly to $X in 2022. Over the period under review, imports, however, continue to indicate a pronounced expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 81% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of metal cutting shear to Colombia, with a 84% share of total imports. Moreover, metal cutting shear imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +2.3%.

In value terms, China ($X) constituted the largest supplier of metal cutting shears and similar hand tools to Colombia, comprising 68% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 24% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to +3.6%.

Import Prices by Country

In 2022, the average metal cutting shear import price amounted to $X per ton, declining by -2.5% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 an increase of 65% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat 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 Taiwan (Chinese) ($X per ton), while the price for China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.3%).

Source: IndexBox Platform

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