Ecuador: Hand Tools Market 2025

Hand Tools Market Size in Ecuador

In 2021, the Ecuadorian hand tools market increased by 55% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, showed a relatively flat trend pattern. Hand tools consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Hand Tools Production in Ecuador

In value terms, hand tools production rose to $X in 2021 estimated in export price. Over the period under review, production, however, saw a deep downturn. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Hand Tools Exports

Exports from Ecuador

In 2021, hand tools exports from Ecuador surged to X tons, jumping by 199% compared with 2020. In general, exports continue to indicate a mild increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, hand tools exports skyrocketed to $X in 2021. Overall, exports recorded a strong expansion. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Peru (X tons) was the main destination for hand tools exports from Ecuador, with a 81% share of total exports. Moreover, hand tools exports to Peru exceeded the volume sent to the second major destination, Colombia (X tons), more than tenfold. The third position in this ranking was held by the United States (X tons), with a 3.5% share.

From 2012 to 2021, the average annual growth rate of volume to Peru amounted to +6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-20.9% per year) and the United States (-2.1% per year).

In value terms, Peru ($X) remains the key foreign market for hand tools exports from Ecuador, comprising 46% of total exports. The second position in the ranking was taken by the United States ($X), with an 18% share of total exports. It was followed by Colombia, with an 8.7% share.

From 2012 to 2021, the average annual growth rate of value to Peru totaled +13.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+5.1% per year) and Colombia (-10.5% per year).

Export Prices by Country

The average hand tools export price stood at $X per ton in 2021, dropping by -14.5% against the previous year. Over the period under review, export price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hand tools export price decreased by +0.1% against 2019 indices. The growth pace was the most rapid in 2013 an increase of 64%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Peru ($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 Djibouti (+5,300.5%), while the prices for the other major destinations experienced more modest paces of growth.

Hand Tools Imports

Imports into Ecuador

In 2021, purchases abroad of hand tools was finally on the rise to reach X tons after two years of decline. Overall, total imports indicated a slight expansion from 2012 to 2021: its volume increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, hand tools imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of hand tools to Ecuador, with a 61% share of total imports. Moreover, hand tools imports from China exceeded the figures recorded by the second-largest supplier, Colombia (X tons), fourfold. Mexico (X tons) ranked third in terms of total imports with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+3.3% per year) and Mexico (-5.9% per year).

In value terms, China ($X) constituted the largest supplier of hand tools to Ecuador, comprising 48% of total imports. The second position in the ranking was held by Colombia ($X), with a 12% share of total imports. It was followed by the United States, with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+3.5% per year) and the United States (-11.2% per year).

Import Prices by Country

In 2021, the average hand tools import price amounted to $X per ton, leveling off at the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 5.8% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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