Ecuador: Market for Domestic, Non-Electric, Cooking Or Heating Appliances 2024

Market Size for Domestic, Non-Electric, Cooking Or Heating Appliances in Ecuador

In 2021, the Ecuadorian market for domestic, non-electric, cooking or heating appliances decreased by -19.7% to $X for the first time since 2017, thus ending a three-year rising trend. In general, consumption showed a deep reduction. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Domestic, Non-Electric, Cooking Or Heating Appliances in Ecuador

In value terms, production of domestic, non-electric, cooking or heating appliances expanded modestly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a deep downturn. The pace of growth was the most pronounced in 2015 when the production volume increased by 10%. Over the period under review, production of reached the maximum level at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Exports of Domestic, Non-Electric, Cooking Or Heating Appliances

Exports from Ecuador

In 2021, shipments abroad of domestic, non-electric, cooking or heating appliances increased by 88% to X tons, rising for the second year in a row after two years of decline. Over the period under review, total exports indicated a slight expansion from 2012 to 2021: its volume increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +99.2% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of domestic, non-electric, cooking or heating appliances soared to $X in 2021. Overall, total exports indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +98.0% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Peru (X tons), Chile (X tons) and Mexico (X tons) were the main destinations of exports of domestic, non-electric, cooking or heating appliances from Ecuador, with a combined 64% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +58.7%), while the other leaders experienced more modest paces of growth.

In value terms, Peru ($X) remains the key foreign market for domestic, non-electric, cooking or heating appliances exports from Ecuador, comprising 35% of total exports. The second position in the ranking was taken by Chile ($X), with a 17% share of total exports. It was followed by Mexico, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Peru amounted to +6.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+7.7% per year) and Mexico (+46.0% per year).

Export Prices by Country

In 2021, the average export price for domestic, non-electric, cooking or heating appliances amounted to $X per ton, approximately mirroring the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 6%. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Colombia ($X per ton), while the average price for exports to Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+3.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Domestic, Non-Electric, Cooking Or Heating Appliances

Imports into Ecuador

In 2021, overseas purchases of domestic, non-electric, cooking or heating appliances increased by 38% to X tons, rising for the sixth consecutive year after two years of decline. Over the period under review, imports posted a prominent increase. The most prominent rate of growth was recorded in 2019 when imports increased by 236%. Imports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, imports of domestic, non-electric, cooking or heating appliances soared to $X in 2021. In general, imports posted a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of 241%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of domestic, non-electric, cooking or heating appliance to Ecuador, with a 48% share of total imports. Moreover, imports of domestic, non-electric, cooking or heating appliances from China exceeded the figures recorded by the second-largest supplier, Mexico (X tons), twofold. The third position in this ranking was held by Colombia (X tons), with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +23.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+7.9% per year) and Colombia (+1.7% per year).

In value terms, China ($X), Mexico ($X) and Colombia ($X) appeared to be the largest domestic, non-electric, cooking or heating appliance suppliers to Ecuador, with a combined 82% share of total imports. These countries were followed by Italy, Peru, Chile, Hong Kong SAR and Brazil, which together accounted for a further 17%.

Peru, with a CAGR of +207.1%, recorded 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 2021, the average import price for domestic, non-electric, cooking or heating appliances amounted to $X per ton, rising by 9.6% against the previous year. Overall, the import price, however, continues to indicate a slight descent. The pace of growth was the most pronounced in 2016 an increase of 30% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Italy ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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