Ecuador: Market for Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers 2021

Market Size for Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers in Ecuador

For the third year in a row, the Ecuadorian market for iron, steel or aluminium reservoirs, tanks, vats and similar containers recorded growth in sales value, which increased by X% to $X in 2020. Overall, consumption saw noticeable growth. The most prominent rate of growth was recorded in 2009 with an increase of X% year-to-year. Over the period under review, the market hit record highs at $X in 2011; however, from 2012 to 2020, consumption failed to regain the momentum.

Exports of Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers

Exports from Ecuador

In 2020, approx. X tons of iron, steel or aluminium reservoirs, tanks, vats and similar containers were exported from Ecuador; waning by -X% compared with 2019. Overall, exports, however, enjoyed strong growth. The pace of growth appeared the most rapid in 2008 when exports increased by X% year-to-year. Over the period under review, exports reached the peak figure at X tons in 2017; however, from 2018 to 2020, exports remained at a lower figure.

In value terms, iron, steel or aluminium reservoir exports rose notably to $X in 2020. Over the period under review, exports, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2008 with an increase of X% y-o-y. As a result, exports attained the peak of $X. from 2009 to 2020, the growth exports remained at a somewhat lower figure.

Exports by Country

Indonesia (X tons) was the main destination for iron, steel or aluminium reservoir exports from Ecuador, accounting for a X% share of total exports. Moreover, iron, steel or aluminium reservoir exports to Indonesia exceeded the volume sent to the second major destination, Peru (X tons), threefold. The U.S. (X tons) ranked third in terms of total exports with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume to Indonesia stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+X% per year) and the U.S. (+X% per year).

In value terms, Peru ($X), Indonesia ($X) and Costa Rica ($X) were the largest markets for iron, steel or aluminium reservoir exported from Ecuador worldwide, with a combined X% share of total exports. Panama, Brazil, the U.S. and Singapore lagged somewhat behind, together accounting for a further X the main countries of destination, Panama recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for iron, steel or aluminium reservoirs, tanks, vats and similar containers stood at $X per ton in 2020, growing by X% against the previous year. Overall, the export price, however, continues to indicate a mild contraction. The pace of growth was the most pronounced in 2009 an increase of X% against the previous year. As a result, export price attained the peak level of $X per ton. from 2010 to 2020, the growth in terms of the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2020, the country with the highest price was Peru ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Peru, while the prices for the other major destinations experienced a decline.

Imports of Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers

Imports into Ecuador

In 2020, overseas purchases of iron, steel or aluminium reservoirs, tanks, vats and similar containers were finally on the rise to reach X tons for the first time since 2017, thus ending a two-year declining trend. In general, imports recorded a buoyant increase. The pace of growth appeared the most rapid in 2008 with an increase of X% y-o-y. Imports peaked at X tons in 2012; however, from 2013 to 2020, imports stood at a somewhat lower figure.

In value terms, iron, steel or aluminium reservoir imports rose modestly to $X in 2020. Overall, imports recorded noticeable growth. The pace of growth appeared the most rapid in 2008 when imports increased by X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2020, imports stood at a somewhat lower figure.

Imports by Country

In 2020, China (X tons) constituted the largest supplier of iron, steel or aluminium reservoir to Ecuador, accounting for a X% share of total imports. Moreover, iron, steel or aluminium reservoir imports from China exceeded the figures recorded by the second-largest supplier, Peru (X tons), sixfold. Mexico (X tons) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume from China totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+X% per year) and Mexico (+X% per year).

In value terms, China ($X) constituted the largest supplier of iron, steel or aluminium reservoir to Ecuador, comprising X% of total imports. The second position in the ranking was occupied by Mexico ($X), with a X% share of total imports. It was followed by the U.S., with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value from China amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+X% per year) and the U.S. (-X% per year).

Import Prices by Country

In 2020, the average import price for iron, steel or aluminium reservoirs, tanks, vats and similar containers amounted to $X per ton, dropping by -X% against the previous year. Overall, the import price recorded a perceptible contraction. The pace of growth was the most pronounced in 2011 an increase of X% y-o-y. As a result, import price attained the peak level of $X per ton. from 2012 to 2020, the growth in terms of the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was the U.S. ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by the U.S., while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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