Ecuador: Market for Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) in Ecuador

For the fourth year in a row, the Ecuadorian market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) recorded decline in sales value, which decreased by -9.4% to $X in 2021. Over the period under review, consumption recorded a abrupt setback. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Exports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Exports from Ecuador

In 2021, approx. X tons of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) were exported from Ecuador; which is down by -37.6% against the previous year. Overall, exports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2017 when exports increased by 619%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) reduced rapidly to $X in 2021. In general, exports saw a abrupt downturn. The pace of growth was the most pronounced in 2017 with an increase of 1,403%. Over the period under review, the exports of attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X kg), Panama (X kg) and Sweden (X kg) were the main destinations of exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Ecuador, with a combined 83% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Panama (with a CAGR of +10.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Panama ($X) remains the key foreign market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) exports from Ecuador, comprising 44% of total exports. The second position in the ranking was held by Peru ($X), with a 22% share of total exports. It was followed by the United States, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Panama stood at +22.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (-7.8% per year) and the United States (-24.2% per year).

Export Prices by Country

In 2021, the average export price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) amounted to $X per ton, approximately equating the previous year. In general, export price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) increased by +65.8% against 2018 indices. The most prominent rate of growth was recorded in 2017 an increase of 109%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cuba ($X per ton), while the average price for exports to Sweden ($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 Panama (+10.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Imports into Ecuador

For the fourth consecutive year, Ecuador recorded decline in supplies from abroad of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft), which decreased by -17.4% to X tons in 2021. In general, imports saw a noticeable curtailment. The growth pace was the most rapid in 2017 when imports increased by 70%. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports of failed to regain momentum.

In value terms, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) declined to $X in 2021. Over the period under review, imports recorded a noticeable slump. The growth pace was the most rapid in 2017 with an increase of 69% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports of remained at a somewhat lower figure.

Imports by Country

Japan (X tons), China (X tons) and the United States (X tons) were the main suppliers of imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to Ecuador, with a combined 67% share of total imports. These countries were followed by Thailand, Spain and Panama, which together accounted for a further 12%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +45.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to Ecuador, comprising 53% of total imports. The second position in the ranking was held by the United States ($X), with a 10% share of total imports. It was followed by Thailand, with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan amounted to -6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-9.2% per year) and Thailand (-2.6% per year).

Import Prices by Country

The average import price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) stood at $X per ton in 2021, increasing by 13% against the previous year. Over the period under review, the import price, however, saw a slight decline. Over the period under review, average import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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