Ecuador: Industrial Sewing Machine Market 2024

Industrial Sewing Machine Market Size in Ecuador

In 2022, the Ecuadorian industrial sewing machine market increased by 4.8% to $X, rising for the second year in a row after two years of decline. Over the period under review, the total consumption indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +17.6% against 2020 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Industrial Sewing Machine Exports

Exports from Ecuador

For the third consecutive year, Ecuador recorded growth in shipments abroad of industrial sewing machines, which increased by 46% to X units in 2022. Over the period under review, exports, however, recorded a deep slump. The pace of growth appeared the most rapid in 2018 with an increase of 50%. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, industrial sewing machine exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2020 when exports increased by 76% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Colombia (X units) was the main destination for industrial sewing machine exports from Ecuador, accounting for a 63% share of total exports. Moreover, industrial sewing machine exports to Colombia exceeded the volume sent to the second major destination, Peru (X units), threefold. The third position in this ranking was taken by the United States (X units), with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Colombia stood at +4.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+7.2% per year) and the United States (-12.9% per year).

In value terms, the largest markets for industrial sewing machine exported from Ecuador were Colombia ($X), the United States ($X) and Chile ($X), together accounting for 85% of total exports.

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

Export Prices by Country

The average industrial sewing machine export price stood at $X per unit in 2022, falling by -3.3% against the previous year. In general, the export price showed a slight reduction. The most prominent rate of growth was recorded in 2020 when the average export price increased by 76%. The export price peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, 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.

Industrial Sewing Machine Imports

Imports into Ecuador

In 2022, industrial sewing machine imports into Ecuador surged to X units, growing by 17% against the previous year's figure. Over the period under review, imports recorded a buoyant expansion. The pace of growth was the most pronounced in 2013 when imports increased by 83%. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, industrial sewing machine imports declined slightly to $X in 2022. In general, imports, however, showed a mild descent. The most prominent rate of growth was recorded in 2017 when imports increased by 80%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest industrial sewing machine supplier to Ecuador, accounting for a 84% share of total imports. Moreover, industrial sewing machine imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+1.4% per year) and Vietnam (+21.5% per year).

In value terms, China ($X) constituted the largest supplier of industrial sewing machines to Ecuador, comprising 68% of total imports. The second position in the ranking was held by the United States ($X), with an 8.5% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-9.2% per year) and Vietnam (+0.0% per year).

Import Prices by Country

The average industrial sewing machine import price stood at $X per unit in 2022, with a decrease of -17.5% against the previous year. Over the period under review, the import price continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2019 when the average import price increased by 23% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-3.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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