Ecuador: Market for Dried Or Smoked Fish 2024

Market Size for Dried Or Smoked Fish in Ecuador

In 2021, the Ecuadorian dried or smoked fish market increased by 1.8% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, saw a deep setback. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Dried Or Smoked Fish in Ecuador

In value terms, dried or smoked fish production expanded markedly to $X in 2021 estimated in export price. In general, production, however, saw a abrupt decrease. The pace of growth appeared the most rapid in 2016 with an increase of 187%. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Exports of Dried Or Smoked Fish

Exports from Ecuador

Dried or smoked fish exports from Ecuador fell to X tons in 2021, waning by -12.4% against 2020 figures. In general, exports, however, continue to indicate a buoyant increase. The growth pace was the most rapid in 2013 when exports increased by 745% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, dried or smoked fish exports soared to $X in 2021. Over the period under review, exports, however, showed buoyant growth. The pace of growth was the most pronounced in 2013 with an increase of 217% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Peru (X tons), Colombia (X tons) and the United States (X tons) were the main destinations of dried or smoked fish exports from Ecuador, together comprising 82% of total exports.

From 2012 to 2021, the biggest increases were recorded for Peru (with a CAGR of +61.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X) remains the key foreign market for dried or smoked fish exports from Ecuador, comprising 62% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 20% share of total exports. It was followed by the United States, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Peru totaled +64.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+3.1% per year) and the United States (+38.4% per year).

Export Prices by Country

The average dried or smoked fish export price stood at $X per ton in 2021, rising by 128% against the previous year. Over the period under review, the export price recorded temperate growth. The most prominent rate of growth was recorded in 2018 when the average export price increased by 179% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Peru ($X per ton), while the average price for exports to Colombia ($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 the United States (+4.2%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Dried Or Smoked Fish

Imports into Ecuador

In 2021, purchases abroad of dried or smoked fish increased by 16% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports saw a mild expansion. The pace of growth was the most pronounced in 2013 with an increase of 98%. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, dried or smoked fish imports skyrocketed to $X in 2021. Over the period under review, imports, however, recorded a noticeable decline. The most prominent rate of growth was recorded in 2017 with an increase of 113% against the previous year. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Peru (X tons) constituted the largest supplier of dried or smoked fish to Ecuador, accounting for a 81% share of total imports. Moreover, dried or smoked fish imports from Peru exceeded the figures recorded by the second-largest supplier, China (X tons), eightfold. Chile (X kg) ranked third in terms of total imports with a 3.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Peru totaled +40.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (0.0% per year) and Chile (-4.4% per year).

In value terms, the largest dried or smoked fish suppliers to Ecuador were Peru ($X), Chile ($X) and the UK ($X), together accounting for 73% of total imports.

Among the main suppliers, Peru, with a CAGR of +19.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average dried or smoked fish import price stood at $X per ton in 2021, rising by 8.3% against the previous year. Overall, the import price, however, continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2014 when the average import price increased by 31%. Over the period under review, average import prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+73.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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