Ecuador: Market for Iron Or Steel Parts Of Articulated Link Chain 2024

Market Size for Iron Or Steel Parts Of Articulated Link Chain in Ecuador

In 2021, the Ecuadorian metal link chain parts market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, recorded a mild decrease. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Exports of Iron Or Steel Parts Of Articulated Link Chain

Exports from Ecuador

In 2021, overseas shipments of iron or steel parts of articulated link chain increased by 1.2% to X kg, rising for the third year in a row after two years of decline. In general, exports saw a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of 1,500% against the previous year. The exports peaked at X kg in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, metal link chain parts exports surged to $X in 2021. Overall, exports, however, continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2019 with an increase of 1,318%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Peru (X kg) was the main destination for metal link chain parts exports from Ecuador, with a 93% share of total exports. Moreover, metal link chain parts exports to Peru exceeded the volume sent to the second major destination, Colombia (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Peru totaled +19.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-10.6% per year) and the United States (-38.6% per year).

In value terms, Peru ($X) remains the key foreign market for iron or steel parts of articulated link chain exports from Ecuador, comprising 90% of total exports. The second position in the ranking was held by Colombia ($X), with a 5.1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Peru totaled -3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+6.4% per year) and the United States (+48.5% per year).

Export Prices by Country

In 2021, the average metal link chain parts export price amounted to $X per ton, with an increase of 60% against the previous year. In general, the export price, however, continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2019 when the average export price increased by 164%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Peru ($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 Colombia (+20.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Iron Or Steel Parts Of Articulated Link Chain

Imports into Ecuador

In 2021, purchases abroad of iron or steel parts of articulated link chain increased by 99% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports saw a noticeable expansion. The most prominent rate of growth was recorded in 2017 with an increase of 180% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, metal link chain parts imports skyrocketed to $X in 2021. In general, imports, however, saw a perceptible reduction. The pace of growth appeared the most rapid in 2017 with an increase of 227%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest metal link chain parts supplier to Ecuador, accounting for a 59% share of total imports. Moreover, metal link chain parts imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X tons), threefold. The third position in this ranking was held by Colombia (X tons), with a 9.3% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+3.7% per year) and Colombia (+12.1% per year).

In value terms, the largest metal link chain parts suppliers to Ecuador were Brazil ($X), Colombia ($X) and China ($X), together accounting for 69% of total imports. Spain, the United States, Germany and Japan lagged somewhat behind, together accounting for a further 14%.

Among the main suppliers, Spain, with a CAGR of +17.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average metal link chain parts import price amounted to $X per ton, falling by -10.5% against the previous year. In general, the import price continues to indicate a perceptible downturn. The growth pace was the most rapid in 2018 when the average import price increased by 26% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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 Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+20.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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