Colombia: Plastic Ornamental Articles Market 2024

Plastic Ornamental Articles Market Size in Colombia

The Colombian plastic ornamental articles market shrank to $X in 2022, which is down by -10.3% 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). In general, consumption showed a mild descent. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Plastic Ornamental Articles Exports

Exports from Colombia

In 2022, approx. X tons of statuettes and other ornamental articles of plastic were exported from Colombia; which is down by -18.1% compared with the year before. Overall, total exports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +30.5% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 59% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, plastic ornamental articles exports contracted notably to $X in 2022. In general, exports, however, recorded a prominent expansion. The growth pace was the most rapid in 2021 with an increase of 73%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Peru (X tons), Ecuador (X tons) and the United States (X tons) were the main destinations of plastic ornamental articles exports from Colombia, together comprising 50% of total exports. Norway, Trinidad and Tobago, Panama, Costa Rica, Guatemala, Spain, Paraguay, Estonia, the Dominican Republic and Germany lagged somewhat behind, together comprising a further 41%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guatemala (with a CAGR of +122.9%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for statuettes and other ornamental articles of plastic exports from Colombia, comprising 24% of total exports. The second position in the ranking was held by Peru ($X), with a 10% share of total exports. It was followed by Ecuador, with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +40.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+10.0% per year) and Ecuador (+13.1% per year).

Export Prices by Country

In 2022, the average plastic ornamental articles export price amounted to $X per ton, reducing by -3.6% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2018 an increase of 24% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, 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 Germany ($X per ton), while the average price for exports to Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+23.4%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Ornamental Articles Imports

Imports into Colombia

Plastic ornamental articles imports into Colombia reduced to X tons in 2022, waning by -9.4% compared with the previous year's figure. Overall, total imports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +11.7% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 88% against the previous year. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, plastic ornamental articles imports dropped to $X in 2022. In general, imports continue to indicate a perceptible decline. The growth pace was the most rapid in 2014 when imports increased by 118% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) was the main supplier of plastic ornamental articles to Colombia, with a approx. 99% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China stood at +5.3%.

In value terms, China ($X) constituted the largest supplier of statuettes and other ornamental articles of plastic to Colombia.

From 2012 to 2022, the average annual growth rate of value from China totaled -3.0%.

Import Prices by Country

The average plastic ornamental articles import price stood at $X per ton in 2022, falling by -1.9% against the previous year. Over the period under review, the import price saw a deep setback. The most prominent rate of growth was recorded in 2014 when the average import price increased by 16% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -7.9% per year.

Source: IndexBox Platform

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