Ecuador: Market for Industrial Sewing Machines (Non-Automatic) 2024

Market Size for Industrial Sewing Machines (Non-Automatic) in Ecuador

In 2022, the Ecuadorian industrial sewing machines (non-automatic) market increased by 6.6% to $X, rising for the second year in a row after two years of decline. In general, consumption showed a strong expansion. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Exports of Industrial Sewing Machines (Non-Automatic)

Exports from Ecuador

Industrial sewing machines (non-automatic) exports from Ecuador surged to X units in 2022, increasing by 33% against the previous year's figure. In general, exports, however, faced a deep reduction. The most prominent rate of growth was recorded in 2014 when exports increased by 75% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, industrial sewing machines (non-automatic) exports skyrocketed to $X in 2022. Overall, exports, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2017 with an increase of 244% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Peru (X units) was the main destination for industrial sewing machines (non-automatic) exports from Ecuador, accounting for a 50% share of total exports. Moreover, industrial sewing machines (non-automatic) exports to Peru exceeded the volume sent to the second major destination, the United States (X units), fourfold. The third position in this ranking was held by Colombia (X units), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Peru stood at +7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-12.9% per year) and Colombia (-12.9% per year).

In value terms, the United States ($X), Chile ($X) and Peru ($X) constituted the largest markets for industrial sewing machines (non-automatic) exported from Ecuador worldwide, with a combined 82% share of total exports.

Among the main countries of destination, Chile, with a CAGR of +24.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average industrial sewing machines (non-automatic) export price stood at $X per unit in 2022, jumping by 19% against the previous year. In general, the export price posted a strong increase. The most prominent rate of growth was recorded in 2017 when the average export price increased by 244% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, 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 ($X per unit), while the average price for exports to Moldova ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Chile (+24.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Industrial Sewing Machines (Non-Automatic)

Imports into Ecuador

In 2022, overseas purchases of industrial sewing machines (non-automatic) increased by 20% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports showed a prominent increase. The most prominent rate of growth was recorded in 2017 when imports increased by 113% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, industrial sewing machines (non-automatic) imports fell modestly to $X in 2022. In general, total imports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.7% 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 +5.0% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of 116% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest industrial sewing machines (non-automatic) supplier to Ecuador, with a 88% share of total imports. Moreover, industrial sewing machines (non-automatic) imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), more than tenfold. The third position in this ranking was held by the United States (X units), with a 1% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +16.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+23.1% per year) and the United States (-7.7% per year).

In value terms, China ($X) constituted the largest supplier of industrial sewing machines (non-automatic) to Ecuador, comprising 67% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 9.3% share of total imports. It was followed by Japan, with a 4.4% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+19.9% per year) and Japan (-2.8% per year).

Import Prices by Country

The average industrial sewing machines (non-automatic) import price stood at $X per unit in 2022, reducing by -20.2% against the previous year. Overall, the import price recorded a abrupt slump. The pace of growth appeared the most rapid in 2013 when the average import price increased by 4.5% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 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 Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+8.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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