Colombia: Data Storage Device Market 2024

Data Storage Device Market Size in Colombia

The Colombian data storage device market dropped modestly to $X in 2022, remaining relatively unchanged 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, however, continues to indicate a perceptible contraction. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Data Storage Device Exports

Exports from Colombia

In 2022, the amount of data storage devices exported from Colombia surged to X units, picking up by 274% compared with the year before. In general, exports, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 when exports increased by 385% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, data storage device exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a deep reduction. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for data storage device exports from Colombia, accounting for a 84% share of total exports. It was followed by Ireland (X units), with a 2.6% share of total exports. The third position in this ranking was taken by Venezuela (X units), with a 2.6% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at -5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ireland (-25.7% per year) and Venezuela (+11.6% per year).

In value terms, the United States ($X) remains the key foreign market for data storage devices exports from Colombia, comprising 57% of total exports. The second position in the ranking was held by Venezuela ($X), with a 14% share of total exports. It was followed by Chile, with a 7.4% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled -5.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (+27.4% per year) and Chile (+0.7% per year).

Export Prices by Country

The average data storage device export price stood at $X per unit in 2022, leveling off at the previous year. Overall, the export price, however, saw notable growth. The pace of growth appeared the most rapid in 2016 an increase of 41% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2021, and then fell modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Venezuela ($X per unit), while the average price for exports to Hungary ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Chile (+18.8%), while the prices for the other major destinations experienced more modest paces of growth.

Data Storage Device Imports

Imports into Colombia

In 2022, supplies from abroad of data storage devices was finally on the rise to reach X units for the first time since 2016, thus ending a five-year declining trend. In general, imports, however, showed a pronounced curtailment. The growth pace was the most rapid in 2016 with an increase of 114% against the previous year. As a result, imports reached the peak of X units. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, data storage device imports declined to $X in 2022. Over the period under review, imports, however, continue to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 27%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), Taiwan (Chinese) (X units) and Thailand (X units) were the main suppliers of data storage device imports to Colombia, with a combined 88% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +14.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest data storage device suppliers to Colombia were China ($X), Thailand ($X) and Taiwan (Chinese) ($X), with a combined 55% share of total imports.

Among the main suppliers, Taiwan (Chinese), with a CAGR of +24.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average data storage device import price amounted to $X per unit, waning by -19.3% against the previous year. Over the period under review, the import price, however, showed pronounced growth. The most prominent rate of growth was recorded in 2017 an increase of 81%. Over the period under review, average import prices attained the maximum at $X per unit in 2021, and then fell remarkably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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