Colombia: Bracelet Market 2024

Bracelet Market Size in Colombia

The Colombian bracelet market dropped sharply to $X in 2022, which is down by -19.7% against the previous year. Overall, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +31.5% against 2020 indices. As a result, consumption reached the peak level of $X, and then shrank dramatically in the following year.

Bracelet Production in Colombia

In value terms, bracelet production declined to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a mild expansion. The pace of growth was the most pronounced in 2018 when the production volume increased by 134%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Bracelet Exports

Exports from Colombia

In 2022, bracelet exports from Colombia contracted markedly to X units, with a decrease of -46.8% against 2021 figures. Over the period under review, exports saw a sharp decrease. The most prominent rate of growth was recorded in 2018 when exports increased by 875%. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, bracelet exports shrank rapidly to $X in 2022. In general, exports saw a dramatic slump. The most prominent rate of growth was recorded in 2018 when exports increased by 729% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

France (X units), the UK (X units) and Chile (X units) were the main destinations of bracelet exports from Colombia, with a combined 46% share of total exports. Nicaragua, Italy, Panama, Germany and Austria lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Nicaragua (with a CAGR of +360.0%), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) remains the key foreign market for watch straps, bands and bracelets exports from Colombia, comprising 51% of total exports. The second position in the ranking was taken by France ($X), with an 11% share of total exports. It was followed by Italy, with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the UK amounted to +9.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+31.0% per year) and Italy (0.0% per year).

Export Prices by Country

The average bracelet export price stood at $X per unit in 2022, rising by 24% against the previous year. In general, the export price saw resilient growth. The pace of growth was the most pronounced in 2017 when the average export price increased by 353% against the previous year. The export price peaked in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Panama ($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 Austria (+14.3%), while the prices for the other major destinations experienced more modest paces of growth.

Bracelet Imports

Imports into Colombia

Bracelet imports into Colombia reduced dramatically to X units in 2022, dropping by -30.3% against the year before. Over the period under review, imports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2021 when imports increased by 170%. As a result, imports attained the peak of X units, and then declined remarkably in the following year.

In value terms, bracelet imports dropped rapidly to $X in 2022. In general, total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.0% 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 +26.6% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of 97%. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of bracelet to Colombia, with a 83% share of total imports. Moreover, bracelet imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), eightfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +60.4%.

In value terms, China ($X) constituted the largest supplier of watch straps, bands and bracelets to Colombia, comprising 30% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 9.1% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +53.2%.

Import Prices by Country

In 2022, the average bracelet import price amounted to $X per unit, increasing by 19% against the previous year. Over the period under review, the import price, however, saw a noticeable shrinkage. The pace of growth was the most pronounced in 2018 when the average import price increased by 130%. As a result, import price attained the peak level of $X per unit. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

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 Hong Kong SAR ($X per unit), while the price for China totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+57.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :