Colombia: Measuring Instrument Market 2024

Measuring Instrument Market Size in Colombia

The Colombian measuring instrument market reduced to $X in 2023, falling 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, consumption saw a slight downturn. As a result, consumption attained the peak level of $X. From 2014 to 2023, the growth of the market remained at a lower figure.

Measuring Instrument Exports

Exports from Colombia

After two years of growth, shipments abroad of instruments and apparatus for measuring or checking the flow or level of liquids decreased by X% to X units in 2023. Over the period under review, exports, however, recorded a resilient expansion. The growth pace was the most rapid in 2021 with an increase of X%. The exports peaked at X units in 2022, and then fell in the following year.

In value terms, measuring instrument exports contracted to $X in 2023. Overall, exports, however, showed a measured increase. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Ecuador (X units) was the main destination for measuring instrument exports from Colombia, accounting for a X% share of total exports. Moreover, measuring instrument exports to Ecuador exceeded the volume sent to the second major destination, Peru (X units), twofold. The third position in this ranking was held by Panama (X units), with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Ecuador amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (X% per year) and Panama (X% per year).

In value terms, the largest markets for measuring instrument exported from Colombia were Peru ($X), the United States ($X) and Ecuador ($X), with a combined X% share of total exports. Argentina, Mexico, El Salvador and Panama lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Argentina, with a CAGR of X%, saw the highest rates of growth with regard to 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

The average measuring instrument export price stood at $X per unit in 2023, which is down by X% against the previous year. Over the period under review, the export price saw a perceptible shrinkage. The pace of growth was the most pronounced in 2019 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Panama ($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 the UK (X%), while the prices for the other major destinations experienced mixed trend patterns.

Measuring Instrument Imports

Imports into Colombia

In 2023, measuring instrument imports into Colombia reduced remarkably to X units, declining by X% compared with 2022 figures. In general, total imports indicated tangible growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, imports attained the peak of X units, and then fell significantly in the following year.

In value terms, measuring instrument imports reduced to $X in 2023. Overall, imports continue to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2022 when imports increased by X%. Imports peaked at $X in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Brazil (X units) and Mexico (X units) were the main suppliers of measuring instrument imports to Colombia, together comprising X% of total imports.

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

In value terms, the United States ($X) constituted the largest supplier of instruments and apparatus for measuring or checking the flow or level of liquids to Colombia, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with an X% share of total imports. It was followed by Brazil, with an X% share.

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

Import Prices by Country

In 2023, the average measuring instrument import price amounted to $X per unit, growing by X% against the previous year. Overall, the import price, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 to 2023, import prices remained at a lower figure.

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

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

Source: IndexBox Platform