Ecuador: Electrical Insulating Fittings Market 2024

Electrical Insulating Fittings Market Size in Ecuador

The Ecuadorian electrical insulating fittings market declined markedly to $X in 2022, shrinking by -29.6% 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 saw a abrupt curtailment. Electrical insulating fittings consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Electrical Insulating Fittings Exports

Exports from Ecuador

In 2022, shipments abroad of electrical insulating fittings of plastics was finally on the rise to reach X kg after two years of decline. In general, exports, however, continue to indicate a dramatic descent. The pace of growth appeared the most rapid in 2015 when exports increased by 2,708% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, electrical insulating fittings exports soared to $X in 2022. Overall, exports, however, saw a dramatic contraction. The pace of growth appeared the most rapid in 2015 with an increase of 774% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X kg), Colombia (X kg) and Peru (X kg) were the main destinations of electrical insulating fittings exports from Ecuador, with a combined 96% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +32.6%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for electrical insulating fittings of plastics exports from Ecuador, comprising 48% of total exports. The second position in the ranking was held by Colombia ($X), with a 23% share of total exports. It was followed by France, with a 23% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +31.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+3.5% per year) and France (0.0% per year).

Export Prices by Country

The average electrical insulating fittings export price stood at $X per ton in 2022, with a decrease of -45.1% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 229% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+0.0%), while the prices for the other major destinations experienced a decline.

Electrical Insulating Fittings Imports

Imports into Ecuador

In 2022, imports of electrical insulating fittings of plastics into Ecuador dropped remarkably to X tons, with a decrease of -32.5% compared with 2021. In general, imports saw a abrupt decline. The growth pace was the most rapid in 2017 with an increase of 120% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, electrical insulating fittings imports contracted sharply to $X in 2022. Overall, imports recorded a abrupt contraction. The growth pace was the most rapid in 2021 with an increase of 118%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Peru (X tons) and Hong Kong SAR (X kg) were the main suppliers of electrical insulating fittings imports to Ecuador, together accounting for 89% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hong Kong SAR (with a CAGR of +0.6%), while imports for the other leaders experienced a decline.

In value terms, China ($X) constituted the largest supplier of electrical insulating fittings of plastics to Ecuador, comprising 49% of total imports. The second position in the ranking was taken by Peru ($X), with a 16% share of total imports. It was followed by Hong Kong SAR, with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at -1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (-7.3% per year) and Hong Kong SAR (+9.6% per year).

Import Prices by Country

The average electrical insulating fittings import price stood at $X per ton in 2022, increasing by 8% against the previous year. Over the period under review, the import price continues to indicate a prominent increase. The pace of growth appeared the most rapid in 2019 an increase of 82% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+15.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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