Colombia: Narrow Woven Fabric Market 2024

Narrow Woven Fabric Market Size in Colombia

The Colombian narrow woven fabric market soared to $X in 2021, rising by 52% 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). The market value increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Narrow Woven Fabric Exports

Exports from Colombia

In 2021, shipments abroad of narrow woven fabrics increased by 51% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, saw a abrupt downturn. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, narrow woven fabric exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a abrupt contraction. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Ecuador (X tons) was the main destination for narrow woven fabric exports from Colombia, with a 39% share of total exports. Moreover, narrow woven fabric exports to Ecuador exceeded the volume sent to the second major destination, Mexico (X tons), twofold. Peru (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Ecuador totaled -3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-11.2% per year) and Peru (-6.4% per year).

In value terms, the largest markets for narrow woven fabric exported from Colombia were Ecuador ($X), El Salvador ($X) and Peru ($X), with a combined 57% share of total exports.

In terms of the main countries of destination, El Salvador, with a CAGR of +19.8%, recorded the highest rates of growth with regard to the value of exports, 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 narrow woven fabric export price amounted to $X per ton, surging by 12% against the previous year. Overall, the export price saw a mild increase. The most prominent rate of growth was recorded in 2018 an increase of 13%. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was El Salvador ($X per ton), while the average price for exports to Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (+18.2%), while the prices for the other major destinations experienced more modest paces of growth.

Narrow Woven Fabric Imports

Imports into Colombia

In 2021, the amount of narrow woven fabrics imported into Colombia surged to X tons, picking up by 46% on 2020. The total import volume increased at an average annual rate of +4.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, narrow woven fabric imports surged to $X in 2021. The total import value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of narrow woven fabric to Colombia, accounting for a 87% share of total imports. Moreover, narrow woven fabric imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), more than tenfold. The third position in this ranking was taken by Brazil (X tons), with a 2.1% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+6.4% per year) and Brazil (+1.5% per year).

In value terms, China ($X) constituted the largest supplier of narrow woven fabrics to Colombia, comprising 74% of total imports. The second position in the ranking was taken by South Korea ($X), with a 4.1% share of total imports. It was followed by Brazil, with a 2.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+8.2% per year) and Brazil (-1.2% per year).

Import Prices by Country

The average narrow woven fabric import price stood at $X per ton in 2021, picking up by 6.5% against the previous year. In general, the import price, however, continues to indicate a perceptible slump. The pace of growth appeared the most rapid in 2018 when the average import price increased by 28% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 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 Peru ($X per ton), while the price for Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+45.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :