Colombia: Electronic Chip Market 2024

Electronic Chip Market Size in Colombia

The Colombian electronic chip market skyrocketed to $X in 2022, growing 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% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Electronic chip consumption peaked in 2022 and is expected to retain growth in the near future.

Electronic Chip Exports

Exports from Colombia

In 2022, overseas shipments of electronic chips decreased by X% to X units, falling for the second consecutive year after two years of growth. Over the period under review, exports recorded a deep contraction. The pace of growth was the most pronounced in 2019 with an increase of X%. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, electronic chip exports reduced dramatically to $X in 2022. Overall, exports showed a deep contraction. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units), Ecuador (X units) and El Salvador (X units) were the main destinations of electronic chip exports from Colombia, together comprising X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by El Salvador (with a CAGR of X%), while the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) remains the key foreign market for electronic chips exports from Colombia, comprising X% of total exports. The second position in the ranking was taken by Ecuador ($X), with a X% share of total exports. It was followed by Peru, with a X% share.

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

Export Prices by Country

In 2022, the average electronic chip export price amounted to $X per unit, dropping by X% against the previous year. Over the period under review, the export price, however, saw a measured increase. The pace of growth appeared the most rapid in 2016 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

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 Hong Kong SAR ($X per unit), while the average price for exports to El Salvador (less than $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 Hong Kong SAR (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Electronic Chip Imports

Imports into Colombia

In 2022, purchases abroad of electronic chips increased by X% to X units, rising for the second year in a row after two years of decline. In general, imports, however, recorded a noticeable descent. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, electronic chip imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest electronic chip supplier to Colombia, accounting for a X% share of total imports. Moreover, electronic chip imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X units), sixfold. The third position in this ranking was held by the United States (X units), with a X% share.

From 2012 to 2022, 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: Mexico (X% per year) and the United States (X% per year).

In value terms, China ($X) constituted the largest supplier of electronic chips to Colombia, comprising X% of total imports. The second position in the ranking was held by Singapore ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (X% per year) and the United States (X% per year).

Import Prices by Country

The average electronic chip import price stood at $X per unit in 2022, growing by X% against the previous year. In general, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, electronic chip import price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the near future.

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 Singapore ($X per unit), while the price for Thailand (less than $X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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