Colombia: Market for Parts Of Harvester And Threshers 2024

Market Size for Parts Of Harvester And Threshers in Colombia

The Colombian market for parts of harvester and threshers declined slightly to $X in 2021, which is down by -4.4% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Production of Parts Of Harvester And Threshers in Colombia

In value terms, parts of harvester and threshers production dropped to $X in 2021 estimated in export price. In general, production continues to indicate a slight decline. The pace of growth appeared the most rapid in 2014 with an increase of 18% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Exports of Parts Of Harvester And Threshers

Exports from Colombia

In 2021, shipments abroad of parts of harvester and threshers increased by 20% to X units, rising for the second year in a row after two years of decline. Overall, exports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2020 when exports increased by 108%. The exports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, parts of harvester and threshers exports surged to $X in 2021. In general, exports recorded mild growth. The pace of growth appeared the most rapid in 2017 when exports increased by 126% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

The United States (X units) was the main destination for parts of harvester and threshers exports from Colombia, with a 49% share of total exports. Moreover, parts of harvester and threshers exports to the United States exceeded the volume sent to the second major destination, El Salvador (X units), fourfold. Guatemala (X units) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +5.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+27.1% per year) and Guatemala (+45.8% per year).

In value terms, the United States ($X) remains the key foreign market for parts of harvester and threshers exports from Colombia, comprising 72% of total exports. The second position in the ranking was held by Guatemala ($X), with a 6.2% share of total exports. It was followed by Ecuador, with a 4.8% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+26.9% per year) and Ecuador (+23.0% per year).

Export Prices by Country

In 2021, the average export price for parts of harvester and threshers amounted to $X per unit, rising by 10% against the previous year. Overall, the export price, however, continues to indicate a perceptible decrease. The growth pace was the most rapid in 2017 when the average export price increased by 18% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to El Salvador ($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 Australia (+14.3%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Parts Of Harvester And Threshers

Imports into Colombia

Parts of harvester and threshers imports into Colombia surged to X units in 2021, jumping by 50% compared with 2020. Over the period under review, imports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2014 with an increase of 52%. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in the near future.

In value terms, parts of harvester and threshers imports soared to $X in 2021. In general, total imports indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, 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

China (X units), Brazil (X units) and the United States (X units) were the main suppliers of parts of harvester and threshers imports to Colombia, with a combined 86% share of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +42.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest parts of harvester and threshers suppliers to Colombia were China ($X), Brazil ($X) and the United States ($X), with a combined 62% share of total imports.

China, with a CAGR of +38.8%, recorded the highest growth rate of the value of imports, among 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 parts of harvester and threshers stood at $X per unit in 2021, surging by 8.8% against the previous year. Overall, the import price, however, recorded a abrupt curtailment. The import price peaked at $X per unit in 2013; however, from 2014 to 2021, 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 Taiwan (Chinese) ($X per unit), while the price for Brazil ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform