Ecuador: Machine-Tool For Drilling Market 2024

Machine-Tool For Drilling Market Size in Ecuador

The Ecuadorian machine-tool for drilling market reduced sharply to $X in 2022, declining by -16.9% 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 showed a abrupt descent. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Machine-Tool For Drilling Exports

Exports from Ecuador

In 2022, after three years of growth, there was significant decline in shipments abroad of machine-tools for drilling, boring or milling metal, when their volume decreased by -41.2% to X units. Overall, exports, however, showed significant growth. The growth pace was the most rapid in 2017 with an increase of 667%. Over the period under review, the exports attained the maximum at X units in 2021, and then contracted remarkably in the following year.

In value terms, machine-tool for drilling exports fell to $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 81% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Australia (X units) was the main destination for machine-tool for drilling exports from Ecuador, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Australia was relatively modest.

In value terms, Australia ($X) emerged as the key foreign market for machine-tools for drilling, boring or milling metal exports from Ecuador, comprising 86% of total exports. The second position in the ranking was held by Panama ($X), with an 8.8% share of total exports. It was followed by Colombia, with a 2.1% share.

From 2012 to 2022, the average annual growth rate of value to Australia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+23.1% per year) and Colombia (-8.4% per year).

Export Prices by Country

In 2022, the average machine-tool for drilling export price amounted to $X per unit, with an increase of 46% against the previous year. In general, the export price, however, showed a precipitous decline. The pace of growth was the most pronounced in 2018 an increase of 196% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Australia.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to -19.3% per year.

Machine-Tool For Drilling Imports

Imports into Ecuador

Machine-tool for drilling imports into Ecuador dropped significantly to X units in 2022, declining by -18.8% against the year before. Overall, imports showed a perceptible reduction. The most prominent rate of growth was recorded in 2021 with an increase of 55% against the previous year. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, machine-tool for drilling imports contracted markedly to $X in 2022. Over the period under review, imports recorded a abrupt decrease. The pace of growth was the most pronounced in 2015 when imports increased by 51%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of machine-tool for drilling to Ecuador, with a 78% share of total imports. Moreover, machine-tool for drilling imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X units), more than tenfold. Australia (X units) ranked third in terms of total imports with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-4.3% per year) and Australia (+78.0% per year).

In value terms, China ($X) constituted the largest supplier of machine-tools for drilling, boring or milling metal to Ecuador, comprising 42% of total imports. The second position in the ranking was taken by the United States ($X), with an 11% share of total imports. It was followed by Colombia, with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-11.5% per year) and Colombia (-3.8% per year).

Import Prices by Country

In 2022, the average machine-tool for drilling import price amounted to $X per unit, surging by 4.3% against the previous year. In general, the import price, however, showed a deep contraction. The growth pace was the most rapid in 2015 when the average import price increased by 72%. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per unit), while the price for Australia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+14.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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