Colombia: Memories Market 2024

Memories Market Size in Colombia

The Colombian memories market soared to $X in 2021, picking up by 129% 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). Overall, consumption showed notable growth. Memories consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Memories Exports

Exports from Colombia

In 2021, after two years of growth, there was significant decline in overseas shipments of multichip integrated circuits: memories, when their volume decreased by -58.4% to X units. In general, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by 306%. The exports peaked at X units in 2020, and then shrank significantly in the following year.

In value terms, memories exports declined markedly to $X in 2021. Overall, exports recorded a abrupt slump. The growth pace was the most rapid in 2016 when exports increased by 191%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units), Free Zones (X units) and Ecuador (X units) were the main destinations of memories exports from Colombia, with a combined 81% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ecuador (with a CAGR of +97.2%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) emerged as the key foreign market for multichip integrated circuits: memories exports from Colombia, comprising 59% of total exports. The second position in the ranking was held by Ecuador ($X), with a 23% share of total exports. It was followed by Venezuela, with a 4.5% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled -14.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+99.6% per year) and Venezuela (+7.3% per year).

Export Prices by Country

The average memories export price stood at $X per unit in 2021, surging by 38% against the previous year. Over the period under review, the export price, however, recorded a noticeable contraction. The export price peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ecuador ($X per unit), while the average price for exports to Free Zones ($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 Mexico (+31.0%), while the prices for the other major destinations experienced more modest paces of growth.

Memories Imports

Imports into Colombia

In 2021, the amount of multichip integrated circuits: memories imported into Colombia skyrocketed to X units, with an increase of 115% compared with the year before. Overall, imports showed noticeable growth. The pace of growth was the most pronounced in 2013 with an increase of 115% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, memories imports skyrocketed to $X in 2021. In general, imports showed a notable expansion. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Taiwan (Chinese) (X units) constituted the largest supplier of memories to Colombia, with a 85% share of total imports. Moreover, memories imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, China (X units), more than tenfold. The third position in this ranking was held by Mexico (X units), with a 3.7% share.

From 2012 to 2021, the average annual growth rate of volume from Taiwan (Chinese) totaled +18.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-18.5% per year) and Mexico (+30.6% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of multichip integrated circuits: memories to Colombia, comprising 61% of total imports. The second position in the ranking was taken by Mexico ($X), with a 6.8% share of total imports. It was followed by China, with a 5.9% share.

From 2012 to 2021, the average annual growth rate of value from Taiwan (Chinese) totaled +17.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+30.5% per year) and China (-11.9% per year).

Import Prices by Country

In 2021, the average memories import price amounted to $X per unit, increasing by 9% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 60%. The import price peaked at $X per unit in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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