Ecuador: Dairy Machinery Market 2024

Dairy Machinery Market Size in Ecuador

For the third year in a row, the Ecuadorian dairy machinery market recorded growth in sales value, which increased by 2.5% to $X in 2022. In general, consumption continues to indicate prominent growth. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Dairy Machinery Exports

Exports from Ecuador

In 2022, after four years of decline, there was decline in shipments abroad of dairy machinery, when their volume decreased by 0% to X units. Overall, exports saw a noticeable reduction. The pace of growth appeared the most rapid in 2013 when exports increased by 300% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, dairy machinery exports rose rapidly to $X in 2022. Over the period under review, exports saw a abrupt descent. The growth pace was the most rapid in 2013 with an increase of 351% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Venezuela (X units) was the main destination for dairy machinery exports from Ecuador, with a 57% share of total exports. Moreover, dairy machinery exports to Venezuela exceeded the volume sent to the second major destination, Colombia (X units), fourfold. The third position in this ranking was held by Spain (X units), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Venezuela amounted to -6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (0.0% per year) and Spain (0.0% per year).

In value terms, Venezuela ($X) remains the key foreign market for dairy machinery exports from Ecuador, comprising 84% of total exports. The second position in the ranking was taken by Colombia ($X), with a 15% share of total exports. It was followed by Italy, with a 0.7% share.

From 2012 to 2022, the average annual growth rate of value to Venezuela stood at -13.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+1.7% per year) and Italy (-13.8% per year).

Export Prices by Country

The average dairy machinery export price stood at $X per unit in 2022, surging by 8.3% against the previous year. Overall, the export price, however, showed a deep setback. The growth pace was the most rapid in 2016 when the average export price increased by 123%. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Venezuela ($X per unit), while the average price for exports to Spain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+1.7%), while the prices for the other major destinations experienced a decline.

Dairy Machinery Imports

Imports into Ecuador

In 2022, the amount of dairy machinery imported into Ecuador rose slightly to X units, increasing by 2.3% against the year before. Over the period under review, imports saw a prominent increase. The most prominent rate of growth was recorded in 2013 with an increase of 179%. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, dairy machinery imports rose modestly to $X in 2022. Overall, imports continue to indicate strong growth. The growth pace was the most rapid in 2013 when imports increased by 295% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Brazil (X units), Colombia (X units) and Switzerland (X units) were the main suppliers of dairy machinery imports to Ecuador, with a combined 33% share of total imports. The United States, Bolivia, Mexico, Poland, Argentina, India, Denmark, Greece, the Netherlands and Sweden lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +27.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Colombia ($X), Denmark ($X) and Switzerland ($X) constituted the largest dairy machinery suppliers to Ecuador, with a combined 43% share of total imports. Brazil, Bolivia, the United States, Mexico, Argentina, Sweden, Greece, Poland, India and the Netherlands lagged somewhat behind, together accounting for a further 25%.

India, with a CAGR of +34.8%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average dairy machinery import price amounted to $X per unit, therefore, remained relatively stable against the previous year. Over the period under review, the import price, however, recorded a mild setback. The most prominent rate of growth was recorded in 2013 an increase of 41%. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Denmark ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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