Ecuador: Leather Market 2022

Leather Market Size in Ecuador

In 2021, the Ecuadorian leather market decreased by -11.3% to $X for the first time since 2016, thus ending a four-year rising trend. In general, the total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Leather consumption peaked at $X in 2020, and then declined in the following year.

Leather Production in Ecuador

In value terms, leather production expanded slightly to $X in 2021 estimated in export price. Overall, production showed a noticeable decline. The most prominent rate of growth was recorded in 2015 with an increase of 22% against the previous year. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Leather Exports

Exports from Ecuador

In 2021, shipments abroad of leather increased by 88% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports enjoyed prominent growth. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, leather exports surged to $X in 2021. In general, exports recorded a tangible expansion. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Italy (X tons), China (X tons) and Thailand (X tons) were the main destinations of leather exports from Ecuador, with a combined 61% share of total exports.

From 2012 to 2021, the biggest increases were in Thailand (with a CAGR of +170.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for leather exported from Ecuador were Hong Kong SAR ($X), China ($X) and Italy ($X), with a combined 58% share of total exports. These countries were followed by Thailand, Mexico and Brazil, which together accounted for a further 13%.

In terms of the main countries of destination, Thailand, with a CAGR of +71.3%, 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 leather export price stood at $X per ton in 2021, with a decrease of -5.5% against the previous year. Over the period under review, the export price saw a perceptible setback. The pace of growth appeared the most rapid in 2018 when the average export price increased by 26% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the the average export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Brazil ($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 Hong Kong SAR (+11.3%), while the prices for the other major destinations experienced a decline.

Leather Imports

Imports into Ecuador

In 2021, leather imports into Ecuador soared to X tons, jumping by 15% against the previous year. In general, imports recorded a resilient expansion. The growth pace was the most rapid in 2015 when imports increased by 121% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, leather imports skyrocketed to $X in 2021. Over the period under review, imports recorded a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Brazil (X tons) constituted the largest leather supplier to Ecuador, with a 75% share of total imports. Moreover, leather imports from Brazil exceeded the figures recorded by the second-largest supplier, Colombia (X tons), more than tenfold. The third position in this ranking was held by China (X tons), with a 2.6% share.

From 2012 to 2021, the average annual growth rate of volume from Brazil stood at +56.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (-10.9% per year) and China (+20.2% per year).

In value terms, Brazil ($X) constituted the largest supplier of leather to Ecuador, comprising 72% of total imports. The second position in the ranking was taken by Colombia ($X), with a 4.3% share of total imports. It was followed by Italy, with a 0.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Brazil amounted to +38.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (-18.9% per year) and Italy (-29.3% per year).

Import Prices by Country

In 2021, the average leather import price amounted to $X per ton, with an increase of 58% against the previous year. Overall, the import price, however, recorded a abrupt curtailment. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+10.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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