Colombia: Lock And Key Market 2024

Lock And Key Market Size in Colombia

After two years of growth, the Colombian lock and key market decreased by X% to $X in 2023. Over the period under review, the total consumption indicated a strong increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2022, and then reduced modestly in the following year.

Lock And Key Exports

Exports from Colombia

In 2023, the amount of padlocks, locks and keys of base metal exported from Colombia soared to X tons, picking up by X% on the previous year. In general, total exports indicated a strong expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports reached the maximum at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, lock and key exports expanded modestly to $X in 2023. The total export 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 growth pace was the most rapid in 2021 with an increase of X%. The exports peaked at $X in 2017; however, from 2018 to 2023, the exports failed to regain momentum.

Exports by Country

Ecuador (X tons), the United States (X tons) and Chile (X tons) were the main destinations of lock and key exports from Colombia, with a combined X% share of total exports. Venezuela, Costa Rica, Guatemala, Panama, Mexico, Peru, El Salvador, Nicaragua, Honduras and Brazil lagged somewhat behind, together comprising a further X%.

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

In value terms, Ecuador ($X), the United States ($X) and Chile ($X) constituted the largest markets for lock and key exported from Colombia worldwide, with a combined X% share of total exports. Mexico, Costa Rica, Guatemala, Panama, Venezuela, Brazil, El Salvador, Peru, Honduras and Nicaragua lagged somewhat behind, together comprising a further X%.

Brazil, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average lock and key export price stood at $X per ton in 2023, which is down by X% against the previous year. In general, the export price recorded a pronounced reduction. The pace of growth appeared the most rapid in 2022 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Peru ($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 Mexico (X%), while the prices for the other major destinations experienced mixed trend patterns.

Lock And Key Imports

Imports into Colombia

Lock and key imports into Colombia amounted to X tons in 2023, surging by X% compared with 2022. In general, total imports indicated a strong expansion 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 decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports remained at a lower figure.

In value terms, lock and key imports declined to $X in 2023. Overall, total imports indicated a strong 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. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2022, and then dropped in the following year.

Imports by Country

In 2023, China (X tons) constituted the largest lock and key supplier to Colombia, with a X% share of total imports. It was followed by the United States (X tons), with a X% share of total imports.

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

In value terms, China ($X) constituted the largest supplier of padlocks, locks and keys of base metal to Colombia, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports.

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: the United States (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

The average lock and key import price stood at $X per ton in 2023, with a decrease of X% against the previous year. Over the period under review, the import price continues to indicate a mild decrease. The most prominent rate of growth was recorded in 2022 an increase of X%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat 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 the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform