Colombia: Wood Milling Machine Market 2024

Wood Milling Machine Market Size in Colombia

The Colombian wood milling machine market soared to $X in 2021, picking up by 54% 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, however, showed a pronounced descent. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Wood Milling Machine Exports

Exports from Colombia

Wood milling machine exports from Colombia contracted notably to X units in 2021, dropping by -74.4% on 2020. Over the period under review, exports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2020 with an increase of 1,333%. As a result, the exports reached the peak of X units, and then contracted significantly in the following year.

In value terms, wood milling machine exports dropped rapidly to $X in 2021. Overall, exports continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2020 with an increase of 838%. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Costa Rica (X units) was the main destination for wood milling machine exports from Colombia, with a 82% share of total exports. Moreover, wood milling machine exports to Costa Rica exceeded the volume sent to the second major destination, Aruba (X units), ninefold.

From 2012 to 2021, the average annual growth rate of volume to Costa Rica stood at +18.2%.

In value terms, Costa Rica ($X) remains the key foreign market for planing, milling or moulding machines exports from Colombia, comprising 99% of total exports. The second position in the ranking was taken by Ecuador ($X), with a 0.4% share of total exports. It was followed by Venezuela, with a 0.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Costa Rica totaled +3.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-43.6% per year) and Venezuela (-48.6% per year).

Export Prices by Country

The average wood milling machine export price stood at $X per unit in 2021, growing by 6.8% against the previous year. Over the period under review, the export price, however, showed a dramatic setback. The most prominent rate of growth was recorded in 2013 when the average export price increased by 153%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Venezuela ($X per unit), while the average price for exports to Aruba (less than $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 Venezuela (-11.2%), while the prices for the other major destinations experienced a decline.

Wood Milling Machine Imports

Imports into Colombia

In 2021, approx. X units of planing, milling or moulding machines were imported into Colombia; jumping by 29% compared with the year before. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 103%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, wood milling machine imports skyrocketed to $X in 2021. In general, imports, however, recorded a abrupt descent. The pace of growth appeared the most rapid in 2018 with an increase of 45%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Mexico (X units) constituted the largest supplier of wood milling machine to Colombia, with a 73% share of total imports. Moreover, wood milling machine imports from Mexico exceeded the figures recorded by the second-largest supplier, China (X units), fivefold. The third position in this ranking was taken by Turkey (X units), with a 2% share.

From 2012 to 2021, the average annual growth rate of volume from Mexico amounted to +65.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-3.4% per year) and Turkey (-15.4% per year).

In value terms, China ($X) constituted the largest supplier of planing, milling or moulding machines to Colombia, comprising 45% of total imports. The second position in the ranking was held by Mexico ($X), with a 7.4% share of total imports. It was followed by Germany, with a 3.3% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+48.2% per year) and Germany (-25.4% per year).

Import Prices by Country

In 2021, the average wood milling machine import price amounted to $X per unit, reducing by -3.6% against the previous year. Overall, the import price recorded a drastic downturn. The pace of growth was the most pronounced in 2016 when the average import price increased by 39%. As a result, import price reached the peak level of $X per unit. From 2017 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Mexico ($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 (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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