Colombia: Electronic Chip Market 2024

Electronic Chip Market Size in Colombia

In 2023, the Colombian electronic chip market decreased by X% to $X for the first time since 2015, thus ending a seven-year rising trend. In general, consumption, however, saw prominent growth. As a result, consumption attained the peak level of $X, and then fell in the following year.

Electronic Chip Exports

Exports from Colombia

Electronic chip exports from Colombia soared to X units in 2023, rising by X% on 2022. In general, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2018 when exports increased by X%. Over the period under review, the exports reached the maximum at X units in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

In value terms, electronic chip exports soared to $X in 2023. Over the period under review, exports, however, showed a perceptible curtailment. The exports peaked at $X in 2015; however, from 2016 to 2023, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for electronic chip exports from Colombia, with a X% share of total exports. Moreover, electronic chip exports to the United States exceeded the volume sent to the second major destination, Hong Kong SAR (X units), twofold. The third position in this ranking was taken by Ecuador (X units), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (X% per year) and Ecuador (X% per year).

In value terms, the United States ($X) remains the key foreign market for electronic chips exports from Colombia, comprising X% of total exports. The second position in the ranking was taken by Ecuador ($X), with a X% share of total exports. It was followed by Brazil, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (X% per year) and Brazil (X% per year).

Export Prices by Country

The average electronic chip export price stood at $X per unit in 2023, declining by X% against the previous year. In general, the export price faced a dramatic decrease. The most prominent rate of growth was recorded in 2022 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 remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per unit), while the average price for exports to Hong Kong SAR ($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 Peru (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electronic Chip Imports

Imports into Colombia

In 2023, after five years of growth, there was significant decline in supplies from abroad of electronic chips, when their volume decreased by X% to X units. In general, imports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X units in 2022, and then fell in the following year.

In value terms, electronic chip imports declined to $X in 2023. Over the period under review, total imports indicated a moderate expansion 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 2016 indices. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2022, and then contracted in the following year.

Imports by Country

In 2023, Mexico (X units) constituted the largest supplier of electronic chip to Colombia, accounting for a X% share of total imports. Moreover, electronic chip imports from Mexico exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. The third position in this ranking was held by China (X units), with a X% share.

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

In value terms, China ($X) constituted the largest supplier of electronic chips to Colombia, comprising X% of total imports. The second position in the ranking was taken by Singapore ($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 growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (X% per year) and the United States (X% per year).

Import Prices by Country

The average electronic chip import price stood at $X per unit in 2023, rising by X% against the previous year. In general, the import price, however, continues to indicate a deep setback. The import price peaked at $X per unit in 2012; however, from 2013 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 Germany ($X per unit), while the price for Mexico ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform