Ecuador: Inedible Fish Products Market 2024

Inedible Fish Products Market Size in Ecuador

In 2022, the Ecuadorian inedible fish products market was finally on the rise to reach $X for the first time since 2017, thus ending a four-year declining trend. Overall, consumption posted a perceptible expansion. Inedible fish products consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Inedible Fish Products Production in Ecuador

In value terms, inedible fish products production surged to $X in 2022 estimated in export price. In general, production, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 117% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Inedible Fish Products Exports

Exports from Ecuador

In 2022, after two years of growth, there was decline in overseas shipments of inedible fish products, when their volume decreased by -2% to X tons. Over the period under review, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2020 with an increase of 50%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, inedible fish products exports amounted to $X in 2022. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 64%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for inedible fish products exports from Ecuador, accounting for a 82% share of total exports. Moreover, inedible fish products exports to the United States exceeded the volume sent to the second major destination, Italy (X tons), more than tenfold. Germany (X tons) ranked third in terms of total exports with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+64.2% per year) and Germany (+3.9% per year).

In value terms, the United States ($X) remains the key foreign market for inedible fish products exports from Ecuador, comprising 78% of total exports. The second position in the ranking was taken by Italy ($X), with a 6.7% share of total exports. It was followed by China, with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +11.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+53.2% per year) and China (-14.8% per year).

Export Prices by Country

In 2022, the average inedible fish products export price amounted to $X per ton, growing by 5.6% against the previous year. In general, the export price enjoyed buoyant growth. The pace of growth appeared the most rapid in 2019 when the average export price increased by 51% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were China ($X per ton) and Germany ($X per ton), while the average price for exports to the United States ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+21.7%), while the prices for the other major destinations experienced more modest paces of growth.

Inedible Fish Products Imports

Imports into Ecuador

In 2022, supplies from abroad of inedible fish products was finally on the rise to reach X tons after two years of decline. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 46% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, inedible fish products imports rose sharply to $X in 2022. In general, imports recorded a strong expansion. The pace of growth was the most pronounced in 2018 with an increase of 50% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The United States (X tons), Russia (X tons) and Panama (X tons) were the main suppliers of inedible fish products imports to Ecuador, with a combined 51% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Russia (with a CAGR of +248.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of inedible fish products to Ecuador, comprising 35% of total imports. The second position in the ranking was held by Russia ($X), with a 17% share of total imports. It was followed by Panama, with a 4.5% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+261.8% per year) and Panama (-7.3% per year).

Import Prices by Country

The average inedible fish products import price stood at $X per ton in 2022, reducing by -5.8% against the previous year. In general, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, inedible fish products import price decreased by +0.1% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by 46%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, 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 the United States ($X per ton), while the price for Bahamas ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Seychelles (+12.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :