
Colombia - Precious Metal Ores and Concentrates - Market Analysis, Forecast, Size, Trends and Insights
Colombia: Market for Precious Metal Ores And Concentrates 2023
Market Size for Precious Metal Ores And Concentrates in Colombia
After three years of growth, the Colombian market for precious metal ores and concentrates decreased by -34.4% to $X in 2021. In general, consumption, however, showed significant growth. Precious metal ore and concentrate consumption peaked at $X in 2020, and then dropped sharply in the following year.
Production of Precious Metal Ores And Concentrates in Colombia
In value terms, precious metal ore and concentrate production fell notably to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate buoyant growth. The pace of growth was the most pronounced in 2016 with an increase of 88%. Precious metal ore and concentrate production peaked at $X in 2020, and then fell significantly in the following year.
Exports of Precious Metal Ores And Concentrates
Exports from Colombia
In 2021, shipments abroad of precious metal ores and concentrates increased by 104% to X tons, rising for the sixth year in a row after three years of decline. In general, exports recorded a temperate increase. The pace of growth was the most pronounced in 2017 with an increase of 351% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.
In value terms, precious metal ore and concentrate exports surged to $X in 2021. Overall, exports continue to indicate significant growth. The pace of growth appeared the most rapid in 2018 with an increase of 416%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.
Exports by Country
China (X tons) was the main destination for precious metal ore and concentrate exports from Colombia, accounting for a 76% share of total exports. Moreover, precious metal ore and concentrate exports to China exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), more than tenfold. The third position in this ranking was held by the United Arab Emirates (X tons), with a 4.4% share.
From 2012 to 2021, the average annual growth rate of volume to China stood at +35.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+170.2% per year) and the United Arab Emirates (0.0% per year).
In value terms, the largest markets for precious metal ore and concentrate exported from Colombia were China ($X), India ($X) and the United Arab Emirates ($X), together accounting for 82% of total exports.
Among the main countries of destination, China, with a CAGR of +106.1%, recorded 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 2021, the average export price for precious metal ores and concentrates amounted to $X per ton, growing by 34% against the previous year. Overall, the export price recorded a strong expansion. The pace of growth was the most pronounced in 2020 when the average export price increased by 74%. Over the period under review, the average export prices reached the peak figure in 2021 and is likely to continue growth in the near future.
Prices varied noticeably country of destination: the country with the highest price was India ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+98.1%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Precious Metal Ores And Concentrates
Imports into Colombia
In 2021, purchases abroad of precious metal ores and concentrates decreased by -2.1% to X kg, falling for the second year in a row after three years of growth. Overall, imports recorded a precipitous slump. The most prominent rate of growth was recorded in 2019 when imports increased by 447% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.
In value terms, precious metal ore and concentrate imports fell to $X in 2021. In general, imports recorded a mild reduction. The most prominent rate of growth was recorded in 2019 when imports increased by 652% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.
Imports by Country
In 2021, China (X kg) constituted the largest supplier of precious metal ore and concentrate to Colombia, accounting for a 82% share of total imports. Moreover, precious metal ore and concentrate imports from China exceeded the figures recorded by the second-largest supplier, Canada (X kg), sevenfold. The third position in this ranking was taken by New Zealand (X kg), with a 3.6% share.
From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +89.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-4.0% per year) and New Zealand (-22.1% per year).
In value terms, the United States ($X) constituted the largest supplier of precious metal ore and concentrate to Colombia, comprising 94% of total imports. The second position in the ranking was taken by Canada ($X), with a 2.4% share of total imports. It was followed by New Zealand, with a 1.8% share.
From 2012 to 2021, the average annual growth rate of value from the United States amounted to +19.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-9.0% per year) and New Zealand (-27.3% per year).
Import Prices by Country
The average import price for precious metal ores and concentrates stood at $X per ton in 2021, which is down by -9% against the previous year. Over the period under review, the import price, however, saw a significant increase. The most prominent rate of growth was recorded in 2015 when the average import price increased by 113% against the previous year. The import price peaked at $X per ton in 2020, and then dropped in the following year.
There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+96.0%), while the prices for the other major suppliers experienced mixed trend patterns.
Base Year | Historical Period | Forecast Period | Units |
---|---|---|---|
2022 | 2012-2022 | 2023-2030 | US$, Tons |
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the market for precious metal ore and concentrate 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.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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