Ecuador: Machinery Electrical Parts Market 2025

Machinery Electrical Parts Market Size in Ecuador

The Ecuadorian machinery electrical parts market amounted to $X in 2022, remaining relatively unchanged against the previous year. Over the period under review, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -0.4% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Machinery Electrical Parts Production in Ecuador

In value terms, machinery electrical parts production stood at $X in 2022 estimated in export price. In general, the total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.9% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 65% against the previous year. Machinery electrical parts production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Machinery Electrical Parts Exports

Exports from Ecuador

In 2022, the amount of electrical parts of machinery or apparatus exported from Ecuador shrank dramatically to X kg, falling by -52.9% against the previous year. Over the period under review, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 10,221%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, machinery electrical parts exports fell markedly to $X in 2022. In general, exports, however, showed a resilient expansion. The pace of growth was the most pronounced in 2021 with an increase of 658% against the previous year. As a result, the exports attained the peak of $X, and then shrank remarkably in the following year.

Exports by Country

The United States (X kg) was the main destination for machinery electrical parts exports from Ecuador, accounting for a 90% share of total exports. Moreover, machinery electrical parts exports to the United States exceeded the volume sent to the second major destination, Mexico (X kg), more than tenfold. The United Arab Emirates (X kg) ranked third in terms of total exports with a 2.3% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +66.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+25.6% per year) and the United Arab Emirates (+27.0% per year).

In value terms, the United States ($X) emerged as the key foreign market for electrical parts of machinery or apparatus exports from Ecuador, comprising 83% of total exports. The second position in the ranking was held by Mexico ($X), with a 9.8% share of total exports. It was followed by France, with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +54.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+33.9% per year) and France (+25.9% per year).

Export Prices by Country

In 2022, the average machinery electrical parts export price amounted to $X per ton, rising by 20% against the previous year. Over the period under review, the export price, however, showed a deep reduction. The most prominent rate of growth was recorded in 2015 an increase of 724%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat 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 ($X per ton), while the average price for exports to the United Arab Emirates ($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 Mexico (+5.3%), while the prices for the other major destinations experienced a decline.

Machinery Electrical Parts Imports

Imports into Ecuador

In 2022, imports of electrical parts of machinery or apparatus into Ecuador shrank dramatically to X kg, waning by -71% against 2021 figures. Overall, imports, however, recorded a noticeable increase. The pace of growth was the most pronounced in 2021 when imports increased by 918% against the previous year. As a result, imports reached the peak of X kg, and then declined remarkably in the following year.

In value terms, machinery electrical parts imports shrank rapidly to $X in 2022. In general, imports saw a perceptible setback. The most prominent rate of growth was recorded in 2017 with an increase of 324%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Colombia (X kg), Hong Kong SAR (X kg) and the United States (X kg) were the main suppliers of machinery electrical parts imports to Ecuador, with a combined 89% share 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 +44.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) constituted the largest supplier of electrical parts of machinery or apparatus to Ecuador, comprising 84% of total imports. The second position in the ranking was held by Colombia ($X), with a 12% share of total imports. It was followed by Thailand, with a 0.4% share.

From 2012 to 2022, the average annual growth rate of value from Hong Kong SAR stood at +54.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (-17.9% per year) and Thailand (-3.3% per year).

Import Prices by Country

The average machinery electrical parts import price stood at $X per kg in 2022, growing by 124% against the previous year. Over the period under review, the import price, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2018 when the average import price increased by 191%. As a result, import price reached the peak level of $X per kg. From 2019 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hong Kong SAR ($X per kg), while the price for Hungary ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (-2.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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