Tobacco Market Overview in Colombia
In value terms, tobacco production dropped to $ in 2019 estimated in export prices. Overall, production, however, showed a slight decline. The pace of growth appeared the most rapid in 2015 with an increase of % year-to-year. As a result, production attained the peak level of $. From 2016 to 2019, production growth failed to regain the momentum.
The size of the tobacco market in Colombia declined to $ in 2019, with a decrease of -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of % y-o-y. As a result, consumption attained the peak level of $. From 2016 to 2019, the growth of the market remained at a somewhat lower figure.