Ecuador: Frozen Crustaceans Market 2024

Frozen Crustaceans Market Size in Ecuador

The Ecuadorian frozen crustaceans market shrank to $X in 2022, waning by X% against the previous year. In general, consumption recorded a slight shrinkage. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Frozen Crustaceans Production in Ecuador

In value terms, frozen crustaceans production contracted slightly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2019; afterwards, it flattened through to 2022.

Frozen Crustaceans Exports

Exports from Ecuador

In 2022, the amount of frozen crustaceans exported from Ecuador rose remarkably to X tons, increasing by X% compared with 2021. In general, exports saw strong growth. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, frozen crustaceans exports skyrocketed to $X in 2022. Over the period under review, exports recorded a strong expansion. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

Exports by Country

China (X tons) was the main destination for frozen crustaceans exports from Ecuador, accounting for a X% share of total exports. Moreover, frozen crustaceans exports to China exceeded the volume sent to the second major destination, the United States (X tons), twofold. The third position in this ranking was taken by Spain (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Spain (X% per year).

In value terms, China ($X), the United States ($X) and Spain ($X) constituted the largest markets for frozen crustaceans exported from Ecuador worldwide, together comprising X% of total exports.

China, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average frozen crustaceans export price stood at $X per ton in 2022, surging by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were the United States ($X per ton) and Italy ($X per ton), while the average price for exports to Vietnam ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (X%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Crustaceans Imports

Imports into Ecuador

In 2022, approx. X tons of frozen crustaceans were imported into Ecuador; which is down by X% against 2021. In general, imports recorded a precipitous decline. The growth pace was the most rapid in 2017 with an increase of X%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen crustaceans imports totaled $X in 2022. Overall, imports saw a precipitous contraction. The most prominent rate of growth was recorded in 2017 with an increase of X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Colombia (X tons) constituted the largest supplier of frozen crustaceans to Ecuador, with a X% share of total imports. Moreover, frozen crustaceans imports from Colombia exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume from Colombia totaled X%.

In value terms, Colombia ($X) constituted the largest supplier of frozen crustaceans to Ecuador, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Colombia amounted to X%.

Import Prices by Country

The average frozen crustaceans import price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen crustaceans import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Colombia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Free Zones (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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