Colombia: Oil Dispensing Pump Market 2024

Oil Dispensing Pump Market Size in Colombia

The Colombian oil dispensing pump market soared to $X in 2021, jumping by 68% 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 saw temperate growth. Oil dispensing pump consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Oil Dispensing Pump Exports

Exports from Colombia

In 2021, approx. X units of petrol and oil dispensing pumps were exported from Colombia; increasing by 8.8% against 2020. Over the period under review, exports, however, continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2016 with an increase of 81% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, oil dispensing pump exports stood at $X in 2021. In general, exports, however, showed a abrupt slump. The pace of growth was the most pronounced in 2016 with an increase of 57% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Egypt (X units) was the main destination for oil dispensing pump exports from Colombia, with a 73% share of total exports. Moreover, oil dispensing pump exports to Egypt exceeded the volume sent to the second major destination, Saudi Arabia (X units), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Egypt was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-7.4% per year) and Panama (-32.0% per year).

In value terms, Egypt ($X) emerged as the key foreign market for petrol and oil dispensing pumps exports from Colombia, comprising 92% of total exports. The second position in the ranking was taken by Peru ($X), with a 5.2% share of total exports. It was followed by Panama, with a 0.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Egypt was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (-23.7% per year) and Panama (-29.8% per year).

Export Prices by Country

The average oil dispensing pump export price stood at $X per unit in 2021, waning by -6.7% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average export price increased by 118%. Over the period under review, the average export prices hit record highs at $X per unit in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Peru ($X per unit), while the average price for exports to Saudi Arabia ($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 Chile (+200.4%), while the prices for the other major destinations experienced more modest paces of growth.

Oil Dispensing Pump Imports

Imports into Colombia

In 2021, approx. X units of petrol and oil dispensing pumps were imported into Colombia; jumping by 71% against 2020 figures. Over the period under review, imports recorded a strong expansion. The growth pace was the most rapid in 2017 when imports increased by 149% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in the near future.

In value terms, oil dispensing pump imports surged to $X in 2021. Overall, imports, however, saw a mild reduction. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest oil dispensing pump supplier to Colombia, with a 54% share of total imports. Moreover, oil dispensing pump imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), fivefold. Italy (X units) ranked third in terms of total imports with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+1.6% per year) and Italy (+2.8% per year).

In value terms, Brazil ($X) constituted the largest supplier of petrol and oil dispensing pumps to Colombia, comprising 44% of total imports. The second position in the ranking was held by the United States ($X), with a 22% share of total imports. It was followed by China, with a 22% share.

From 2012 to 2021, the average annual growth rate of value from Brazil totaled +16.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-13.8% per year) and China (+4.0% per year).

Import Prices by Country

In 2021, the average oil dispensing pump import price amounted to $X per unit, falling by -8.6% against the previous year. Overall, the import price showed a deep setback. The growth pace was the most rapid in 2016 when the average import price increased by 42%. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Brazil ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-3.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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