Ecuador: Market for Iron or Steel Leaf-Springs and Leaves 2025

Market Size for Iron or Steel Leaf-Springs and Leaves in Ecuador

The Ecuadorian iron or steel leaf-spring market dropped sharply to $X in 2022, with a decrease of -23.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a abrupt decrease. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Exports of Iron or Steel Leaf-Springs and Leaves

Exports from Ecuador

In 2022, shipments abroad of iron or steel leaf-springs and leaves decreased by -0.4% to X tons for the first time since 2017, thus ending a four-year rising trend. Overall, exports, however, saw significant growth. The pace of growth appeared the most rapid in 2016 with an increase of 2,474% against the previous year. The exports peaked at X tons in 2021, and then reduced slightly in the following year.

In value terms, iron or steel leaf-spring exports dropped to $X in 2022. Over the period under review, exports, however, posted significant growth. The pace of growth appeared the most rapid in 2016 when exports increased by 1,586% against the previous year. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

Peru (X tons) was the main destination for iron or steel leaf-spring exports from Ecuador, accounting for a 88% share of total exports. Moreover, iron or steel leaf-spring exports to Peru exceeded the volume sent to the second major destination, Colombia (X tons), eightfold.

From 2012 to 2022, the average annual growth rate of volume to Peru amounted to +81.6%.

In value terms, Peru ($X) remains the key foreign market for iron or steel leaf-springs and leaves exports from Ecuador, comprising 89% of total exports. The second position in the ranking was taken by Colombia ($X), with a 10% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Peru amounted to +60.1%.

Export Prices by Country

The average iron or steel leaf-spring export price stood at $X per ton in 2022, waning by -5.4% against the previous year. In general, the export price saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2014 an increase of 15% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to Colombia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Peru (-11.8%).

Imports of Iron or Steel Leaf-Springs and Leaves

Imports into Ecuador

In 2022, imports of iron or steel leaf-springs and leaves into Ecuador shrank remarkably to X tons, which is down by -16% compared with the previous year. Over the period under review, imports saw a pronounced descent. The most prominent rate of growth was recorded in 2018 with an increase of 58%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, iron or steel leaf-spring imports fell significantly to $X in 2022. Overall, imports saw a perceptible contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 59% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Colombia (X tons) constituted the largest iron or steel leaf-spring supplier to Ecuador, accounting for a 57% share of total imports. Moreover, iron or steel leaf-spring imports from Colombia exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The third position in this ranking was taken by Peru (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Colombia totaled -1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+1.5% per year) and Peru (-12.7% per year).

In value terms, Colombia ($X) constituted the largest supplier of iron or steel leaf-springs and leaves to Ecuador, comprising 44% of total imports. The second position in the ranking was taken by China ($X), with a 17% share of total imports. It was followed by Peru, with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Colombia amounted to -1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+4.4% per year) and Peru (-12.2% per year).

Import Prices by Country

The average iron or steel leaf-spring import price stood at $X per ton in 2022, declining by -3.1% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 8.5%. Over the period under review, average import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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