Colombia: Loudspeaker Market 2024

Loudspeaker Market Size in Colombia

The Colombian loudspeaker market stood at $X in 2023, with an increase of 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). In general, the total consumption indicated moderate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. Over the period under review, the market hit record highs at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Loudspeaker Exports

Exports from Colombia

In 2023, the amount of loudspeakers exported from Colombia surged to X units, with an increase of X% compared with the year before. Over the period under review, exports, however, continue to indicate a pronounced downturn. The pace of growth was the most pronounced in 2018 when exports increased by X%. As a result, the exports attained the peak of X units. From 2019 to 2023, the growth of the exports remained at a lower figure.

In value terms, loudspeaker exports reached $X in 2023. In general, exports, however, continue to indicate a deep reduction. The growth pace was the most rapid in 2016 when exports increased by X%. The exports peaked at $X in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Peru (X units), Panama (X units) and Mexico (X units) were the main destinations of loudspeaker exports from Colombia, together comprising X% of total exports. Ecuador, Chile, Tanzania, Poland, the United States and China lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Poland (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for loudspeaker exported from Colombia were Panama ($X), Ecuador ($X) and the United States ($X), together comprising X% of total exports. Peru, Chile, Poland, Mexico, China and Tanzania lagged somewhat behind, together comprising a further X%.

Poland, with a CAGR of X%, recorded the highest growth rate of the value of exports, among 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 2023, the average loudspeaker export price amounted to $X per unit, which is down by X% against the previous year. Overall, the export price showed a pronounced contraction. The pace of growth appeared the most rapid in 2019 an increase of X%. The export price peaked at $X per unit in 2013; however, from 2014 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Tanzania ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Loudspeaker Imports

Imports into Colombia

Loudspeaker imports into Colombia stood at X units in 2023, growing by X% on the previous year. Over the period under review, total imports indicated a perceptible expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2019 with an increase of X%. As a result, imports attained the peak of X units. From 2020 to 2023, the growth of imports failed to regain momentum.

In value terms, loudspeaker imports expanded rapidly to $X in 2023. Overall, total imports indicated moderate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2019 with an increase of X%. Imports peaked at $X in 2021; however, from 2022 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, China (X units) was the main loudspeaker supplier to Colombia, with a approx. X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of volume from China totaled X%.

In value terms, China ($X) constituted the largest supplier of loudspeakers to Colombia.

From 2012 to 2023, the average annual rate of growth in terms of value from China amounted to X%.

Import Prices by Country

The average loudspeaker import price stood at $X per unit in 2023, shrinking by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The growth pace was the most rapid in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2022, and then dropped in the following year.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2023, the rate of growth in terms of prices for China amounted to X% per year.

Source: IndexBox Platform