Ecuador: Market for Hand-Operated Drilling, Threading or Tapping Tools 2024

Market Size for Hand-Operated Drilling, Threading or Tapping Tools in Ecuador

The Ecuadorian market for hand-operated drilling, threading or tapping tools declined to $X in 2022, reducing by -14.6% 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 relatively flat trend pattern. Consumption of peaked at $X in 2021, and then fell in the following year.

Exports of Hand-Operated Drilling, Threading or Tapping Tools

Exports from Ecuador

Exports of hand-operated drilling, threading or tapping tools from Ecuador reduced rapidly to X kg in 2022, declining by -34.4% compared with 2021. Over the period under review, exports, however, saw a temperate increase. The pace of growth was the most pronounced in 2013 when exports increased by 473%. The exports peaked at X kg in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, exports of hand-operated drilling, threading or tapping tools reduced dramatically to $X in 2022. In general, exports, however, saw a buoyant increase. The pace of growth appeared the most rapid in 2013 when exports increased by 636%. Over the period under review, the exports of hit record highs at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X kg) was the main destination for exports of hand-operated drilling, threading or tapping tools from Ecuador, with a 43% share of total exports. Moreover, exports of hand-operated drilling, threading or tapping tools to the United States exceeded the volume sent to the second major destination, the Netherlands (X kg), threefold. The third position in this ranking was held by Spain (X kg), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +24.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+11.6% per year) and Spain (+11.6% per year).

In value terms, the United States ($X) remains the key foreign market for hand-operated drilling, threading or tapping tools exports from Ecuador, comprising 57% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 20% share of total exports. It was followed by Spain, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +11.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+11.6% per year) and Spain (+34.9% per year).

Export Prices by Country

The average export price for hand-operated drilling, threading or tapping tools stood at $X per ton in 2022, surging by 2.4% against the previous year. In general, the export price continues to indicate a moderate expansion. The pace of growth appeared the most rapid in 2016 an increase of 87%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to the Dominican Republic ($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 Spain (+20.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hand-Operated Drilling, Threading or Tapping Tools

Imports into Ecuador

In 2022, after five years of growth, there was significant decline in supplies from abroad of hand-operated drilling, threading or tapping tools, when their volume decreased by -11% to X tons. Over the period under review, total imports indicated a modest expansion from 2012 to 2022: its volume increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +171.2% against 2016 indices. The pace of growth was the most pronounced in 2017 when imports increased by 87% against the previous year. Imports peaked at X tons in 2021, and then dropped in the following year.

In value terms, imports of hand-operated drilling, threading or tapping tools declined dramatically to $X in 2022. In general, imports continue to indicate a mild decrease. The growth pace was the most rapid in 2017 when imports increased by 88% against the previous year. Imports peaked at $X in 2021, and then declined markedly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest hand-operated drilling, threading or tapping tool supplier to Ecuador, with a 69% share of total imports. Moreover, imports of hand-operated drilling, threading or tapping tools from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+13.6% per year) and the United States (+4.0% per year).

In value terms, China ($X), the United States ($X) and Japan ($X) constituted the largest hand-operated drilling, threading or tapping tool suppliers to Ecuador, together comprising 89% of total imports.

Japan, with a CAGR of +4.8%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average import price for hand-operated drilling, threading or tapping tools amounted to $X per ton, which is down by -5% against the previous year. Overall, the import price showed a perceptible curtailment. The pace of growth was the most pronounced in 2021 when the average import price increased by 16% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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