Colombia: Market for Liquefied Petroleum Gas (LPG) 2024

Market Size for Liquefied Petroleum Gas (LPG) in Colombia

The Colombian liquefied petroleum gas (LPG) market rose slightly to $X in 2023, surging by X% against the previous year. Over the period under review, consumption, however, showed a slight reduction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2023, consumption stood at a somewhat lower figure.

Production of Liquefied Petroleum Gas (LPG) in Colombia

In value terms, liquefied petroleum gas (LPG) production totaled $X in 2023 estimated in export price. Overall, production, however, continues to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Exports of Liquefied Petroleum Gas (LPG)

Exports from Colombia

Liquefied petroleum gas (LPG) exports from Colombia fell markedly to X tons in 2023, declining by X% on the year before. Overall, exports saw a deep slump. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2023, the growth of the exports failed to regain momentum.

In value terms, liquefied petroleum gas (LPG) exports plummeted to $X in 2023. In general, exports recorded a sharp descent. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

The Dominican Republic (X tons) was the main destination for liquefied petroleum gas (LPG) exports from Colombia, accounting for a X% share of total exports. Moreover, liquefied petroleum gas (LPG) exports to the Dominican Republic exceeded the volume sent to the second major destination, Costa Rica (X tons), sixfold. Panama (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to the Dominican Republic stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (X% per year) and Panama (X% per year).

In value terms, the Dominican Republic ($X) remains the key foreign market for liquefied petroleum gas (LPG) exports from Colombia, comprising X% of total exports. The second position in the ranking was held by Costa Rica ($X), with a X% share of total exports. It was followed by Barbados, with a X% share.

From 2012 to 2023, the average annual growth rate of value to the Dominican Republic totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (X% per year) and Barbados (X% per year).

Export Prices by Country

The average liquefied petroleum gas (LPG) export price stood at $X per ton in 2023, approximately equating the previous year. In general, the export price, however, showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton 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 Barbados ($X per ton), while the average price for exports to Panama ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Barbados (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Liquefied Petroleum Gas (LPG)

Imports into Colombia

In 2023, purchases abroad of liquefied petroleum gas (LPG) decreased by X% to X tons for the first time since 2019, thus ending a three-year rising trend. Over the period under review, imports, however, enjoyed a noticeable expansion. The most prominent rate of growth was recorded in 2016 when imports increased by X%. As a result, imports reached the peak of X tons. From 2017 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, liquefied petroleum gas (LPG) imports fell to $X in 2023. In general, imports, however, posted a mild increase. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2022, and then declined in the following year.

Imports by Country

In 2023, the United States (X tons) constituted the largest liquefied petroleum gas (LPG) supplier to Colombia, accounting for a X% share of total imports. Moreover, liquefied petroleum gas (LPG) imports from the United States exceeded the figures recorded by the second-largest supplier, Free Zones (X tons), twofold. The Dominican Republic (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (X% per year) and the Dominican Republic (X% per year).

In value terms, the United States ($X) constituted the largest supplier of liquefied petroleum gas (LPG) to Colombia, comprising X% of total imports. The second position in the ranking was held by Free Zones ($X), with a X% share of total imports. It was followed by the Dominican Republic, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (X% per year) and the Dominican Republic (X% per year).

Import Prices by Country

In 2023, the average liquefied petroleum gas (LPG) import price amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the import price recorded a slight setback. The most prominent rate of growth was recorded in 2019 when the average import price increased by X%. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Trinidad and Tobago ($X per ton), while the price for Free Zones ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform