Colombia - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends and Insights
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Crude Oil Market Size in Colombia
After four years of growth, the Colombian crude oil market decreased by X% to $X in 2022. Overall, consumption recorded a slight decrease. Crude oil consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.
Crude Oil Production in Colombia
In value terms, crude oil production dropped to $X in 2022 estimated in export price. In general, production continues to indicate a abrupt decline. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Crude oil production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.
Crude Oil Exports
Exports from Colombia
Crude oil exports from Colombia rose remarkably to X tons in 2022, increasing by X% against 2021. Overall, exports, however, showed a noticeable downturn. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.
In value terms, crude oil exports soared to $X in 2022. Over the period under review, exports, however, saw a perceptible contraction. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.
Exports by Country
The United States (X tons), Panama (X tons) and India (X tons) were the main destinations of crude oil exports from Colombia, with a combined X% share of total exports. China, Spain, Cote d'Ivoire and Canada lagged somewhat behind, together accounting for a further X%.
From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, the largest markets for crude oil exported from Colombia were the United States ($X), Panama ($X) and India ($X), together comprising X% of total exports. China, Spain, Cote d'Ivoire and Canada lagged somewhat behind, together accounting for a further X%.
Cote d'Ivoire, 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
The average crude oil export price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the export price, however, recorded a slight shrinkage. The pace of growth was the most pronounced in 2021 when the average export price increased by X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Cote d'Ivoire ($X per ton) and the United States ($X per ton), while the average price for exports to Canada ($X per ton) and China ($X per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (X%), while the prices for the other major destinations experienced a decline.
Crude Oil Imports
Imports into Colombia
In 2022, crude oil imports into Colombia skyrocketed to X tons, rising by X% on 2021. Overall, imports recorded a buoyant increase. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.
In value terms, crude oil imports skyrocketed to $X in 2022. In general, imports posted a resilient expansion. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
Imports by Country
In 2022, the United States (X tons) constituted the largest crude oil supplier to Colombia, with a X% share of total imports. Moreover, crude oil imports from the United States exceeded the figures recorded by the second-largest supplier, Trinidad and Tobago (X tons), twofold.
From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to X%.
In value terms, the United States ($X) constituted the largest supplier of crude petroleum oil to Colombia, comprising X% of total imports. The second position in the ranking was held by Trinidad and Tobago ($X), with a X% share of total imports.
From 2012 to 2022, the average annual growth rate of value from the United States amounted to X%.
Import Prices by Country
The average crude oil import price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the import price, however, continues to indicate a abrupt curtailment. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Trinidad and Tobago ($X per ton), while the price for the United States amounted to $X per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (X%), while the prices for the other major suppliers experienced more modest paces of growth.
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the crude oil market in Colombia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
Country coverage:
- Colombia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Colombia
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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