Colombia: Market for Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD) 2024

Market Size for Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD) in Colombia

The Colombian market for indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) declined notably to $X in 2023, shrinking 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). Overall, consumption, however, showed a strong expansion. As a result, consumption reached the peak level of $X, and then contracted dramatically in the following year.

Exports of Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD)

Exports from Colombia

For the fourth year in a row, Colombia recorded decline in shipments abroad of indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD), which decreased by X% to X units in 2023. Overall, exports recorded a strong expansion. The growth pace was the most rapid in 2013 when exports increased by X%. The exports peaked at X units in 2016; however, from 2017 to 2023, the exports stood at a somewhat lower figure.

In value terms, LCD or LED indicator panel exports declined markedly to $X in 2023. In general, exports posted strong growth. The pace of growth appeared the most rapid in 2013 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2023, the exports failed to regain momentum.

Exports by Country

Peru (X units) was the main destination for LCD or LED indicator panel exports from Colombia, accounting for a X% share of total exports. Moreover, LCD or LED indicator panel exports to Peru exceeded the volume sent to the second major destination, Chile (X units), eightfold.

From 2012 to 2023, the average annual rate of growth in terms of volume to Peru stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (X% per year) and the United States (X% per year).

In value terms, Chile ($X), Peru ($X) and the United States ($X) were the largest markets for LCD or LED indicator panel exported from Colombia worldwide.

In terms of the main countries of destination, the United States, 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 2023, the average export price for indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) amounted to $X per unit, approximately mirroring the previous year. Overall, the export price, however, showed a strong increase. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2022, and then shrank modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Chile ($X per unit), while the average price for exports to Peru ($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 Chile (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD)

Imports into Colombia

LCD or LED indicator panel imports into Colombia reduced markedly to X units in 2023, waning by X% against the year before. Overall, imports, however, saw buoyant growth. The pace of growth appeared the most rapid in 2022 with an increase of X%. As a result, imports reached the peak of X units, and then contracted dramatically in the following year.

In value terms, LCD or LED indicator panel imports fell to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 when imports increased by X% against the previous year. Imports peaked at $X in 2022, and then shrank in the following year.

Imports by Country

China (X units), Mexico (X units) and Spain (X units) were the main suppliers of LCD or LED indicator panel imports to Colombia, with a combined X% share of total imports. The United States, Denmark, Germany, Taiwan (Chinese), Brazil and Canada lagged somewhat behind, together comprising a further X%.

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

In value terms, China ($X) constituted the largest supplier of indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) to Colombia, comprising X% of total imports. The second position in the ranking was taken by Spain ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (X% per year) and the United States (X% per year).

Import Prices by Country

In 2023, the average import price for indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) amounted to $X per unit, increasing by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The import price peaked at $X per unit in 2021; however, from 2022 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Spain ($X per unit), while the price for Denmark ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Spain (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform