Key Market Indicators
Colombia's nickel import market is projected to see a significant decline over the next five years. By 2028, the country's nickel imports are expected to drop to approximately $2.3 million, down from around $3.7 million in 2023. This represents an average annual decrease of 7.6%. Historically, the demand for nickel in Colombia has been on a downward trend. Since 1996, the country has experienced an average yearly decline of 6.3% in nickel imports. On the export front, Colombia has also seen a reduction in its nickel supply. In 2018, the nation's nickel exports amounted to roughly $130,000, a slight dip from about $132,000 in 2017, marking a 2% decrease from the previous year. The long-term trend for Colombian nickel exports has been negative as well. Since 1996, the country's supply has fallen by an average of 24.9% annually.
