Ecuador: Pharmaceutical Rubber Articles Market 2024

Pharmaceutical Rubber Articles Market Size in Ecuador

The Ecuadorian pharmaceutical rubber articles market shrank slightly to $X in 2021, with a decrease of -4.5% 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 showed a abrupt shrinkage. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Pharmaceutical Rubber Articles Exports

Exports from Ecuador

For the seventh year in a row, Ecuador recorded decline in overseas shipments of hygienic or pharmaceutical articles of rubber, which decreased by -35.4% to X units in 2021. Overall, exports recorded a abrupt curtailment. The pace of growth was the most pronounced in 2014 when exports increased by 22% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, pharmaceutical rubber articles exports declined significantly to $X in 2021. In general, exports faced a abrupt downturn. The smallest decline of -4.3% was in 2014. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Free Zones (X units) was the main destination for pharmaceutical rubber articles exports from Ecuador, with a 94% share of total exports. It was followed by Colombia (X units), with a 2.7% share of total exports. Guatemala (X units) ranked third in terms of total exports with a 2.2% share.

From 2012 to 2021, the average annual growth rate of volume to Free Zones stood at +32.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-3.1% per year) and Guatemala (+236.8% per year).

In value terms, Free Zones ($X) emerged as the key foreign market for hygienic or pharmaceutical articles of rubber exports from Ecuador, comprising 92% of total exports. The second position in the ranking was taken by Colombia ($X), with a 5.7% share of total exports. It was followed by Guatemala, with a 1.9% share.

From 2012 to 2021, the average annual growth rate of value to Free Zones stood at +32.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+1.4% per year) and Guatemala (+239.1% per year).

Export Prices by Country

In 2021, the average pharmaceutical rubber articles export price amounted to $X per unit, picking up by 3.8% against the previous year. Overall, the export price, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2015 an increase of 10% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2012; however, from 2013 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 Colombia ($X per unit), while the average price for exports to Peru ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+4.6%), while the prices for the other major destinations experienced mixed trend patterns.

Pharmaceutical Rubber Articles Imports

Imports into Ecuador

In 2021, approx. X units of hygienic or pharmaceutical articles of rubber were imported into Ecuador; which is down by -14.4% against the previous year. Overall, imports recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 when imports increased by 97%. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, pharmaceutical rubber articles imports contracted modestly to $X in 2021. In general, imports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 112% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest pharmaceutical rubber articles supplier to Ecuador, with a 45% share of total imports. Moreover, pharmaceutical rubber articles imports from China exceeded the figures recorded by the second-largest supplier, India (X units), fourfold. The third position in this ranking was held by Thailand (X units), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at -6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+0.5% per year) and Thailand (-3.5% per year).

In value terms, the largest pharmaceutical rubber articles suppliers to Ecuador were China ($X), Germany ($X) and Thailand ($X), with a combined 57% share of total imports.

Thailand, with a CAGR of +7.1%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average pharmaceutical rubber articles import price stood at $X per unit in 2021, with an increase of 13% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.9%. The pace of growth was the most pronounced in 2013 an increase of 22% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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