Ecuador: Machinery For Packing Market 2024

Machinery For Packing Market Size in Ecuador

The Ecuadorian machinery for packing market declined slightly to $X in 2022, remaining relatively unchanged 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). The market value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Machinery For Packing Exports

Exports from Ecuador

In 2022, approx. X units of machinery for packing or wrapping were exported from Ecuador; jumping by 57% against the previous year. Over the period under review, exports saw buoyant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 410% against the previous year. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, machinery for packing exports soared to $X in 2022. Overall, exports saw a measured expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 363%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for machinery for packing exports from Ecuador, accounting for a 87% share of total exports. Moreover, machinery for packing exports to the United States exceeded the volume sent to the second major destination, Colombia (X units), tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +125.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+17.6% per year) and Peru (-3.5% per year).

In value terms, the largest markets for machinery for packing exported from Ecuador were the United States ($X), Colombia ($X) and Peru ($X).

The United States, with a CAGR of +168.1%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average machinery for packing export price amounted to $X per unit, falling by -8% against the previous year. In general, the export price recorded a deep reduction. The pace of growth appeared the most rapid in 2018 an increase of 85%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Peru ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+20.0%), while the prices for the other major destinations experienced more modest paces of growth.

Machinery For Packing Imports

Imports into Ecuador

Machinery for packing imports into Ecuador stood at X units in 2022, with an increase of 2.6% compared with the year before. In general, total imports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -3.2% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of 20% against the previous year. Over the period under review, imports attained the maximum at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, machinery for packing imports stood at $X in 2022. The total import value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2013 with an increase of 26%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of machinery for packing to Ecuador, accounting for a 50% share of total imports. Moreover, machinery for packing imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X units), sixfold. Italy (X units) ranked third in terms of total imports with an 8.1% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +10.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+29.6% per year) and Italy (+0.3% per year).

In value terms, the largest machinery for packing suppliers to Ecuador were China ($X), Brazil ($X) and Italy ($X), together accounting for 63% of total imports. Spain, the United States, Taiwan (Chinese), Turkey and the Dominican Republic lagged somewhat behind, together accounting for a further 19%.

Turkey, with a CAGR of +67.2%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average machinery for packing import price amounted to $X per unit, waning by -2.5% against the previous year. Over the period under review, the import price continues to indicate a mild slump. The most prominent rate of growth was recorded in 2013 when the average import price increased by 37%. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Dominican Republic (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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