Report Update Nov 1, 2024

Colombia - Silver Ores and Concentrates - Market Analysis, Forecast, Size, Trends and Insights

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Colombia: Silver Ore Market 2024

Silver Ore Market Size in Colombia

In 2021, the Colombian silver ore market increased by 82% to $X for the first time since 2012, thus ending a eight-year declining trend. Over the period under review, consumption, however, showed a abrupt contraction. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Silver Ore Production in Colombia

In value terms, silver ore production expanded significantly to $X in 2021 estimated in export price. Over the period under review, production showed a abrupt slump. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Silver Ore Exports

Exports from Colombia

In 2021, after nine years of growth, there was significant decline in overseas shipments of silver ores and concentrates, when their volume decreased by -62.9% to X tons. Over the period under review, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 172%. Over the period under review, the exports reached the maximum at X tons in 2020, and then dropped dramatically in the following year.

In value terms, silver ore exports expanded remarkably to $X in 2021. Overall, exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 99%. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Canada (X tons) was the main destination for silver ore exports from Colombia, with a 92% share of total exports. Moreover, silver ore exports to Canada exceeded the volume sent to the second major destination, Chile (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Canada totaled +26.7%.

In value terms, Chile ($X) emerged as the key foreign market for silver ore exports from Colombia, comprising 71% of total exports. The second position in the ranking was held by Canada ($X), with a 29% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Chile was relatively modest.

Export Prices by Country

The average silver ore export price stood at $X per ton in 2021, surging by 201% against the previous year. Overall, the export price, however, continues to indicate a abrupt decline. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Chile ($X per ton), while the average price for exports to Canada amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (-18.3%).

Silver Ore Imports

Imports into Colombia

In 2021, overseas purchases of silver ores and concentrates decreased by -2.2% to X kg, falling for the second year in a row after three years of growth. Overall, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2013 when imports increased by 625%. Over the period under review, imports reached the peak figure at X kg in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, silver ore imports shrank to $X in 2021. Over the period under review, imports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 659%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, the United States (X kg) was the main supplier of silver ore to Colombia, accounting for a approx. 100% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at +66.4%.

In value terms, the United States ($X) constituted the largest supplier of silver ore to Colombia.

From 2012 to 2021, the average annual growth rate of value from the United States stood at +28.4%.

Import Prices by Country

The average silver ore import price stood at $X per ton in 2021, dropping by -7.5% against the previous year. Over the period under review, the import price recorded a sharp decrease. The growth pace was the most rapid in 2018 an increase of 9.3% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to -22.8% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for silver ores and concentrates in the world?

China remains the largest silver ore consuming country worldwide, accounting for 79% of total volume. Moreover, silver ore consumption in China exceeded the figures recorded by the second-largest consumer, Russia, more than tenfold. The third position in this ranking was occupied by Peru, with a 2.9% share.

What are the largest producers of silver ores and concentrates in the world?

Peru remains the largest silver ore producing country worldwide, comprising approx. 46% of total volume. Moreover, silver ore production in Peru exceeded the figures recorded by the second-largest producer, Russia, threefold. The third position in this ranking was occupied by South Africa, with a 12% share.

What are the leading suppliers of silver ores and concentrates to Colombia?

In value terms, the United States constituted the largest supplier of silver ore to Colombia.

What is the average export price for silver ores and concentrates in Colombia?

The average silver ore export price stood at $255,422 per ton in 2021, flattening at the previous year.

What is the average import price for silver ores and concentrates in Colombia?

The average silver ore import price stood at $393,500 per ton in 2021, reducing by -2.9% against the previous year.

This report provides an in-depth analysis of the silver ore market in Colombia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 07291410 -

Country coverage:

Colombia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Colombia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023