Colombia: Market for Non-Silver Precious Metal Non-Jewelry Articles 2024

Market Size for Non-Silver Precious Metal Non-Jewelry Articles in Colombia

The Colombian market for non-silver precious metal non-jewelry articles reached $X in 2023, growing by X% against the previous year. Overall, the total consumption indicated a resilient increase from 2012 to 2023: its value 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. Non-silver precious metal non-jewelry article consumption peaked in 2023 and is expected to retain growth in years to come.

Production of Non-Silver Precious Metal Non-Jewelry Articles in Colombia

In value terms, non-silver precious metal non-jewelry article production rose remarkably to $X in 2023 estimated in export price. Overall, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2023, production growth remained at a lower figure.

Exports of Non-Silver Precious Metal Non-Jewelry Articles

Exports from Colombia

In 2023, the amount of non-silver precious metal non-jewelry articles exported from Colombia amounted to X kg, remaining stable against 2022 figures. Over the period under review, exports saw a dramatic contraction. The smallest decline of X% was in 2016. The exports peaked at X kg in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, non-silver precious metal non-jewelry article exports soared to $X in 2023. In general, exports showed a noticeable expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X kg), Panama (X kg) and Costa Rica (X kg) were the main destinations of non-silver precious metal non-jewelry article exports from Colombia.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, the United States ($X), Panama ($X) and Costa Rica ($X) were the largest markets for non-silver precious metal non-jewelry article exported from Colombia worldwide.

In terms of the main countries of destination, Costa Rica, 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 mixed trend patterns.

Export Prices by Country

In 2023, the average export price for non-silver precious metal non-jewelry articles amounted to $X per kg, picking up by X% against the previous year. In general, the export price recorded a significant expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per kg), while the average price for exports to Costa Rica ($X per kg) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Costa Rica (X%).

Imports of Non-Silver Precious Metal Non-Jewelry Articles

Imports into Colombia

Non-silver precious metal non-jewelry article imports into Colombia soared to X kg in 2023, with an increase of X% compared with 2022 figures. In general, imports continue to indicate a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, non-silver precious metal non-jewelry article imports surged to $X in 2023. Over the period under review, imports, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

Panama (X kg), Poland (X kg) and the United States (X kg) were the main suppliers of non-silver precious metal non-jewelry article imports to Colombia. Moreover, non-silver precious metal non-jewelry article imports in Panama exceeded the figures recorded by the second-largest supplier, Poland, twofold.

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

In value terms, Panama ($X) constituted the largest supplier of non-silver precious metal non-jewelry articles to Colombia, comprising X% of total imports. The second position in the ranking was taken by Spain ($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 Panama 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

The average import price for non-silver precious metal non-jewelry articles stood at $X per kg in 2023, remaining stable against the previous year. Overall, the import price continues to indicate a perceptible setback. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. The import price peaked at $X per kg in 2018; however, from 2019 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 ($X per kg), while the price for China ($X per kg) 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 a decline.

Source: IndexBox Platform