Ecuador: Food Manufacture Machinery Market 2024

Food Manufacture Machinery Market Size in Ecuador

After two years of decline, the Ecuadorian food manufacture machinery market increased by 186% to $X in 2021. In general, consumption continues to indicate measured growth. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Food Manufacture Machinery Exports

Exports from Ecuador

In 2021, shipments abroad of machinery for the preparation or manufacture of food or drink increased by 461% to X units, rising for the third year in a row after two years of decline. In general, exports, however, recorded a abrupt downturn. The pace of growth appeared the most rapid in 2015 with an increase of 555%. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, food manufacture machinery exports surged to $X in 2021. Overall, exports, however, recorded a abrupt downturn. The pace of growth appeared the most rapid in 2015 when exports increased by 389% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Slovenia (X units) was the main destination for food manufacture machinery exports from Ecuador, accounting for a 79% share of total exports. Moreover, food manufacture machinery exports to Slovenia exceeded the volume sent to the second major destination, Guatemala (X units), ninefold. Colombia (X units) ranked third in terms of total exports with a 2.7% share.

From 2012 to 2021, the average annual growth rate of volume to Slovenia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+23.2% per year) and Colombia (+8.1% per year).

In value terms, Slovenia ($X) emerged as the key foreign market for machinery for the preparation or manufacture of food or drink exports from Ecuador, comprising 72% of total exports. The second position in the ranking was held by Mexico ($X), with a 3% share of total exports. It was followed by Venezuela, with a 2.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Slovenia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-13.7% per year) and Venezuela (-35.3% per year).

Export Prices by Country

The average food manufacture machinery export price stood at $X per unit in 2021, with a decrease of -24.4% against the previous year. Over the period under review, the export price showed a abrupt descent. The pace of growth was the most pronounced in 2018 an increase of 129% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was France ($X per unit), while the average price for exports to Panama ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cameroon (+194.6%), while the prices for the other major destinations experienced more modest paces of growth.

Food Manufacture Machinery Imports

Imports into Ecuador

In 2021, purchases abroad of machinery for the preparation or manufacture of food or drink was finally on the rise to reach X units for the first time since 2016, thus ending a four-year declining trend. Overall, imports, however, recorded a deep setback. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, food manufacture machinery imports skyrocketed to $X in 2021. Over the period under review, imports recorded a resilient increase. Imports peaked at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of food manufacture machinery to Ecuador, accounting for a 46% share of total imports. Moreover, food manufacture machinery imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. The third position in this ranking was held by Italy (X units), with a 6.6% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -13.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+4.0% per year) and Italy (+7.4% per year).

In value terms, China ($X), the United States ($X) and Spain ($X) appeared to be the largest food manufacture machinery suppliers to Ecuador, with a combined 66% share of total imports.

In terms of the main suppliers, Spain, with a CAGR of +34.4%, recorded 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

The average food manufacture machinery import price stood at $X per unit in 2021, shrinking by -2.3% against the previous year. Over the period under review, the import price, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2013 when the average import price increased by 83% against the previous year. The import price peaked at $X per unit in 2020, and then dropped slightly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+73.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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