Colombia: Multimeter Market 2024

Multimeter Market Size in Colombia

The Colombian multimeter market surged to $X in 2022, picking up 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). Over the period under review, the total consumption indicated a strong expansion from 2012 to 2022: its value 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, consumption increased by X% against 2020 indices. Multimeter consumption peaked in 2022 and is expected to retain growth in years to come.

Multimeter Exports

Exports from Colombia

In 2022, approx. X units of multimeters were exported from Colombia; picking up by X% against the previous year. In general, exports enjoyed significant growth. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, multimeter exports fell markedly to $X in 2022. Overall, exports saw a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The exports peaked at $X in 2021, and then declined markedly in the following year.

Exports by Country

Ecuador (X units), Panama (X units) and El Salvador (X units) were the main destinations of multimeter exports from Colombia, together accounting for X% of total exports. Argentina, Guatemala and the United States lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Argentina (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, El Salvador ($X), Panama ($X) and Ecuador ($X) constituted the largest markets for multimeter exported from Colombia worldwide, together accounting for X% of total exports.

Among the main countries of destination, Panama, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average multimeter export price amounted to $X per unit, shrinking by X% against the previous year. In general, the export price, however, posted a slight expansion. The growth pace was the most rapid in 2021 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per unit, and then contracted markedly in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was El Salvador ($X per unit), while the average price for exports to Argentina ($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 Panama (X%), while the prices for the other major destinations experienced mixed trend patterns.

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Multimeter Imports

Imports into Colombia

In 2022, overseas purchases of multimeters increased by X% to X units, rising for the second year in a row after three years of decline. In general, total imports indicated strong growth from 2012 to 2022: its volume 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, imports reached the peak of X units. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, multimeter imports totaled $X in 2022. Over the period under review, total imports indicated a remarkable increase from 2012 to 2022: its value 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, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

China (X units), Taiwan (Chinese) (X units) and Italy (X units) were the main suppliers of multimeter imports to Colombia, together accounting for X% of total imports. Hong Kong SAR, the United States, Turkey, Malaysia and South Korea lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest multimeter suppliers to Colombia were China ($X), the United States ($X) and Italy ($X), with a combined X% share of total imports. Taiwan (Chinese), Malaysia, Turkey, Hong Kong SAR and South Korea lagged somewhat behind, together comprising a further X%.

Turkey, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average multimeter import price amounted to $X per unit, declining by X% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2021, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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