Seals; Mechanical Price in Colombia - 2022

Seals; Mechanical Price in Colombia (CIF) - 2022

The average seals; mechanical import price stood at $3.6 per unit in February 2022, which is down by -24.2% against the previous month. Overall, import price indicated a mild expansion from February 2021 to February 2022: its price increased at an average monthly rate of +1.9% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on February 2022 figures, seals; mechanical import price decreased by -24.2% against January 2022 indices. The growth pace was the most rapid in July 2021 an increase of 123% against the previous month. Over the period under review, average import prices attained the maximum at $4.7 per unit in January 2022, and then declined dramatically in the following month.

There were significant differences in the average prices amongst the major supplying countries. In February 2022, the country with the highest price was the United States ($15.0 per unit), while the price for India ($770 per thousand units) was amongst the lowest.

From February 2021 to February 2022, the most notable rate of growth in terms of prices was attained by the United States (+12.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Seals; Mechanical Price in Colombia (FOB) - 2022

The average seals; mechanical export price stood at $5.9 per unit in 2022, which is down by -22.7% against the previous year. Overall, the export price recorded a noticeable reduction. The most prominent rate of growth was recorded in 2013 an increase of 56%. As a result, the export price attained the peak level of $14 per unit. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($14 per unit), while the average price for exports to Peru ($1.1 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 Germany (+17.8%), while the prices for the other major destinations experienced more modest paces of growth.

Seals; Mechanical Imports in Colombia

In 2022, the amount of seals; mechanicals imported into Colombia reduced to 3.3M units, with a decrease of -9.5% on the previous year's figure. Over the period under review, imports saw a perceptible curtailment. The pace of growth was the most pronounced in 2021 when imports increased by 12%. As a result, imports attained the peak of 3.6M units, and then contracted in the following year.

In value terms, seals; mechanical imports shrank to $11M in 2022. The total import value increased at an average annual rate of +2.6% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 12% against the previous year. As a result, imports attained the peak of $12M, and then shrank in the following year.

Import of Seals; Mechanical in Colombia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	4.6	4.1	5.2	4.6	0.0%
Mexico	1.5	2.5	1.9	2.2	13.6%
Germany	0.8	0.5	0.6	1.6	26.0%
China	0.6	0.5	1.0	1.1	22.4%
Brazil	0.4	0.5	0.4	0.3	-9.1%
Taiwan (Chinese)	0.3	0.3	0.4	0.3	0.0%
Japan	0.1	0.3	0.2	0.1	0.0%
India	0.1	N/A	0.1	N/A	0.0%
Others	1.9	1.8	2.3	0.9	-22.0%
Total	10.4	10.6	11.8	11.2	2.5%

Top Suppliers of Seals; Mechanical to Colombia in 2022:

China (903.8K units)
United States (719.8K units)
Taiwan (Chinese) (579.8K units)
Germany (302.8K units)
Brazil (272.2K units)
Mexico (234.4K units)
Japan (69.0K units)
India (26.7K units)

Seals; Mechanical Exports in Colombia

For the fourth consecutive year, Colombia recorded growth in shipments abroad of seals; mechanicals, which increased by 11% to 402K units in 2022. Over the period under review, exports recorded a significant expansion. The growth pace was the most rapid in 2021 with an increase of 55% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, seals; mechanical exports contracted to $2.4M in 2022. In general, total exports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +14.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +48.9% against 2019 indices. The pace of growth was the most pronounced in 2021 when exports increased by 39%. As a result, the exports attained the peak of $2.8M, and then contracted in the following year.

Export of Seals; Mechanical in Colombia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Ecuador	1,036	1,243	1,608	1,064	0.9%
Mexico	0.2	17.5	6.7	593	1336.6%
Panama	23.2	36.7	304	201	105.4%
Germany	18.2	10.7	134	88.9	69.7%
Nicaragua	91.3	22.0	14.3	79.4	-4.5%
El Salvador	31.1	72.4	82.6	62.9	26.5%
Peru	1.3	6.9	69.7	46.2	228.8%
Guatemala	184	145	157	27.7	-46.8%
Iraq	24.0	N/A	N/A	N/A	0%
Others	194	447	397	223	4.8%
Total	1,603	2,001	2,773	2,387	14.2%