Colombia: Woolen Fabric Market 2022

Woolen Fabric Market Size in Colombia

For the third year in a row, the Colombian woolen fabric market recorded decline in sales value, which decreased by -71% to $X in 2021. Over the period under review, consumption showed a sharp descent. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Woolen Fabric Exports

Exports from Colombia

In 2021, woolen fabric exports from Colombia declined dramatically to X square meters, dropping by -28.3% on 2020 figures. Overall, exports saw a sharp slump. The most prominent rate of growth was recorded in 2018 with an increase of 22%. The exports peaked at X square meters in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, woolen fabric exports declined to $X in 2021. Over the period under review, exports faced a dramatic downturn. The most prominent rate of growth was recorded in 2018 with an increase of 14%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Guatemala (X square meters), the United States (X square meters) and Belgium (X square meters) were the main destinations of woolen fabric exports from Colombia, together accounting for 97% of total exports. The UK lagged somewhat behind, comprising a further 2.8%.

From 2012 to 2021, the biggest increases were in the UK (with a CAGR of 0.0%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for woolen fabric exported from Colombia were the United States ($X), Guatemala ($X) and Belgium ($X), together comprising 91% of total exports. The UK lagged somewhat behind, accounting for a further 8.4%.

The UK, with a CAGR of 0.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average woolen fabric export price amounted to $X per square meter, increasing by 25% against the previous year. Overall, export price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, woolen fabric export price increased by +26.3% against 2018 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by 62%. Over the period under review, the average export prices reached the maximum in 2021 and is likely to see steady growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was the UK ($X per square meter), while the average price for exports to Guatemala ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+13.1%), while the prices for the other major destinations experienced mixed trend patterns.

Woolen Fabric Imports

Imports into Colombia

In 2021, approx. X square meters of woven woolen fabrics were imported into Colombia; waning by -74.2% compared with the year before. In general, imports showed a dramatic curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 7.5% against the previous year. Imports peaked at X square meters in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, woolen fabric imports fell sharply to $X in 2021. Overall, imports continue to indicate a precipitous curtailment. The pace of growth appeared the most rapid in 2018 with an increase of 2% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Italy (X square meters), China (X square meters) and Peru (X square meters) were the main suppliers of woolen fabric imports to Colombia, together comprising 84% of total imports. These countries were followed by Mexico, Ecuador, the Netherlands and the United States, which together accounted for a further 11%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +49.4%), while imports for the other leaders experienced a decline.

In value terms, Italy ($X), China ($X) and Peru ($X) appeared to be the largest woolen fabric suppliers to Colombia, with a combined 91% share of total imports. Ecuador, Mexico, the United States and the Netherlands lagged somewhat behind, together comprising a further 5.3%.

Among the main suppliers, the Netherlands, with a CAGR of +26.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average woolen fabric import price amounted to $X per square meter, increasing by 14% against the previous year. Over the last nine years, it increased at an average annual rate of +1.2%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per square meter), while the price for the Netherlands ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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