Colombia: Market for Machine-Tools For Working Stone, Ceramics, And Concrete 2023

Market Size for Machine-Tools For Working Stone, Ceramics, And Concrete in Colombia

In 2021, the Colombian market for machine-tools for working stone, ceramics, and concrete was finally on the rise to reach $X after four years of decline. In general, consumption, however, continues to indicate a noticeable contraction. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Exports of Machine-Tools For Working Stone, Ceramics, And Concrete

Exports from Colombia

After two years of decline, shipments abroad of machine-tools for working stone, ceramics, and concrete increased by 48% to X units in 2021. In general, exports, however, continue to indicate a slight curtailment. The pace of growth was the most pronounced in 2015 with an increase of 250% against the previous year. As a result, the exports reached the peak of X units. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, machine tools for working stone exports contracted to $X in 2021. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 276% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Ecuador (X units) was the main destination for machine tools for working stone exports from Colombia, with a 70% share of total exports. Moreover, machine tools for working stone exports to Ecuador exceeded the volume sent to the second major destination, Costa Rica (X units), twofold.

From 2012 to 2021, the average annual growth rate of volume to Ecuador totaled +30.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+2.5% per year) and the United States (-48.3% per year).

In value terms, the largest markets for machine tools for working stone exported from Colombia were Ecuador ($X), Costa Rica ($X) and the United States ($X), together comprising 100% of total exports.

Ecuador, with a CAGR of +27.4%, 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 mixed trend patterns.

Export Prices by Country

In 2021, the average export price for machine-tools for working stone, ceramics, and concrete amounted to $X per unit, reducing by -41.7% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by 63%. Over the period under review, the average export prices attained the maximum at $X per unit in 2020, and then fell remarkably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the United States ($X per unit), while the average price for exports to Ecuador ($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 (+88.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Machine-Tools For Working Stone, Ceramics, And Concrete

Imports into Colombia

In 2021, supplies from abroad of machine-tools for working stone, ceramics, and concrete was finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. In general, imports, however, continue to indicate a slight setback. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, machine tools for working stone imports soared to $X in 2021. Over the period under review, imports, however, saw a deep downturn. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) was the main supplier of machine tools for working stone to Colombia, with a 98% share of total imports. It was followed by Spain (X units), with a 1% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -1.4%.

In value terms, China ($X) constituted the largest supplier of machine-tools for working stone, ceramics, and concrete to Colombia, comprising 48% of total imports. The second position in the ranking was held by Spain ($X), with a 4.1% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China stood at -5.4%.

Import Prices by Country

In 2021, the average import price for machine-tools for working stone, ceramics, and concrete amounted to $X per unit, declining by -14.5% against the previous year. In general, the import price recorded a abrupt descent. The pace of growth was the most pronounced in 2016 an increase of 70%. As a result, import price reached the peak level of $X per unit. From 2017 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Spain ($X per unit), while the price for China stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (-1.0%).

Source: IndexBox Market Intelligence Platform

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