Ecuador: Wire And Cable Market 2024

Wire And Cable Market Size in Ecuador

In 2021, the Ecuadorian wire and cable market was finally on the rise to reach $X for the first time since 2014, thus ending a six-year declining trend. In general, consumption, however, showed a noticeable decline. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Wire And Cable Production in Ecuador

In value terms, wire and cable production totaled $X in 2021 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 16% against the previous year. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Wire And Cable Exports

Exports from Ecuador

In 2021, shipments abroad of insulated wire and cable decreased by -5.1% to X tons for the first time since 2015, thus ending a five-year rising trend. In general, exports, however, continue to indicate a strong increase. The pace of growth appeared the most rapid in 2016 with an increase of 68%. Over the period under review, the exports reached the maximum at X tons in 2020, and then declined in the following year.

In value terms, wire and cable exports totaled $X in 2021. Overall, exports, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 52%. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons) was the main destination for wire and cable exports from Ecuador, with a 90% share of total exports. Moreover, wire and cable exports to the United States exceeded the volume sent to the second major destination, Chile (X tons), more than tenfold. Colombia (X tons) ranked third in terms of total exports with a 2.5% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +18.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+8.2% per year) and Colombia (+3.6% per year).

In value terms, the United States ($X) remains the key foreign market for insulated wire and cable exports from Ecuador, comprising 90% of total exports. The second position in the ranking was taken by Colombia ($X), with a 3.5% share of total exports. It was followed by Chile, with a 2.9% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +20.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+2.5% per year) and Chile (+3.8% per year).

Export Prices by Country

In 2021, the average wire and cable export price amounted to $X per ton, growing by 5.7% against the previous year. Overall, the export price, however, recorded a perceptible slump. The most prominent rate of growth was recorded in 2018 an increase of 19% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Chile ($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 Brazil (+14.4%), while the prices for the other major destinations experienced more modest paces of growth.

Wire And Cable Imports

Imports into Ecuador

In 2021, wire and cable imports into Ecuador skyrocketed to X tons, increasing by 20% on the previous year's figure. Over the period under review, imports, however, continue to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2013 when imports increased by 24% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, wire and cable imports surged to $X in 2021. In general, imports, however, showed a deep contraction. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), Colombia (X tons) and the United States (X tons) were the main suppliers of wire and cable imports to Ecuador, with a combined 70% share of total imports. Chile, Brazil, South Korea and Peru lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +5.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wire and cable suppliers to Ecuador were Colombia ($X), China ($X) and the United States ($X), together comprising 68% of total imports.

China, with a CAGR of +0.9%, 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 a decline.

Import Prices by Country

The average wire and cable import price stood at $X per ton in 2021, rising by 26% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, 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 ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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