Colombia: Electrical Circuit Apparatus Market 2024

Electrical Circuit Apparatus Market Size in Colombia

The Colombian electrical circuit apparatus market soared to $X in 2021, surging by X% 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). The market value increased at an average annual rate of X% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Electrical Circuit Apparatus Exports

Exports from Colombia

In 2021, overseas shipments of electrical apparatus for circuit connection, switching and protection increased by X% to X units for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports hit record highs at X units in 2012; afterwards, it flattened through to 2021.

In value terms, electrical circuit apparatus exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in years to come.

Exports by Country

Costa Rica (X units), Peru (X units) and Mexico (X units) were the main destinations of electrical circuit apparatus exports from Colombia, together comprising X% of total exports. Chile, Ecuador, Panama, the United States and Venezuela lagged somewhat behind, together comprising a further X%.

From 2012 to 2021, the biggest increases were recorded for Chile (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for electrical circuit apparatus exported from Colombia were Peru ($X), Mexico ($X) and the United States ($X), together accounting for X% of total exports.

The United States, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average electrical circuit apparatus export price amounted to $X per unit, declining by X% against the previous year. Overall, export price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the average export price increased by X%. The export price peaked at $X per unit in 2020, and then contracted sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Costa Rica ($X per unit) 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 (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Electrical Circuit Apparatus Imports

Imports into Colombia

In 2021, electrical circuit apparatus imports into Colombia skyrocketed to X units, increasing by X% on 2020 figures. In general, total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by X% against 2017 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, electrical circuit apparatus imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of X% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of electrical circuit apparatus to Colombia, accounting for a X% share of total imports. Moreover, electrical circuit apparatus imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. The third position in this ranking was taken by India (X units), with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and India (X% per year).

In value terms, China ($X) constituted the largest supplier of electrical apparatus for circuit connection, switching and protection to Colombia, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Germany (X% per year).

Import Prices by Country

In 2021, the average electrical circuit apparatus import price amounted to $X per unit, dropping by X% against the previous year. Overall, the import price continues to indicate a noticeable decrease. The pace of growth appeared the most rapid in 2017 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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