Ecuador: Medicaments Containing Vitamins Market 2024

Medicaments Containing Vitamins Market Size in Ecuador

The Ecuadorian medicaments containing vitamins market expanded to $X in 2021, rising by 2.9% 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). The market value increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Medicaments Containing Vitamins Exports

Exports from Ecuador

In 2021, approx. X tons of medicaments containing vitamins and provitamins were exported from Ecuador; waning by -3.6% on 2020. Overall, exports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of 129% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, medicaments containing vitamins exports stood at $X in 2021. Over the period under review, exports, however, enjoyed a prominent expansion. The growth pace was the most rapid in 2017 when exports increased by 128% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Bolivia (X tons), Chile (X tons) and Peru (X tons) were the main destinations of medicaments containing vitamins exports from Ecuador, together comprising 92% of total exports. Hong Kong SAR, Nicaragua, the United States and Panama lagged somewhat behind, together comprising a further 5.9%.

From 2012 to 2021, the biggest increases were recorded for Nicaragua (with a CAGR of +65.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Bolivia ($X) remains the key foreign market for medicaments containing vitamins and provitamins exports from Ecuador, comprising 48% of total exports. The second position in the ranking was taken by Chile ($X), with a 16% share of total exports. It was followed by Peru, with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Bolivia stood at +18.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+3.1% per year) and Peru (+17.8% per year).

Export Prices by Country

The average medicaments containing vitamins export price stood at $X per ton in 2021, rising by 11% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.3%. The growth pace was the most rapid in 2019 an increase of 22%. The export price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Chile ($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 (+12.2%), while the prices for the other major destinations experienced more modest paces of growth.

Medicaments Containing Vitamins Imports

Imports into Ecuador

In 2021, the amount of medicaments containing vitamins and provitamins imported into Ecuador contracted to X tons, declining by -9.4% on the previous year's figure. In general, imports showed a pronounced reduction. The pace of growth appeared the most rapid in 2014 when imports increased by 16%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, medicaments containing vitamins imports stood at $X in 2021. The total import value increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 when imports increased by 38% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Mexico (X tons), Argentina (X tons) and Colombia (X tons) were the main suppliers of medicaments containing vitamins imports to Ecuador, together comprising 53% of total imports. These countries were followed by Brazil, China, Costa Rica, Guatemala, Switzerland, Peru, Spain, El Salvador, the United Arab Emirates and the United States, which together accounted for a further 40%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +131.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Colombia ($X) and Costa Rica ($X) appeared to be the largest medicaments containing vitamins suppliers to Ecuador, together accounting for 61% of total imports. Argentina, Switzerland, Brazil, Guatemala, the United Arab Emirates, the United States, Peru, El Salvador, Spain and China lagged somewhat behind, together accounting for a further 30%.

The United Arab Emirates, with a CAGR of +72.4%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average medicaments containing vitamins import price stood at $X per ton in 2021, growing by 18% against the previous year. In general, import price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, medicaments containing vitamins import price increased by +28.4% against 2017 indices. The pace of growth appeared the most rapid in 2015 when the average import price increased by 41%. The import price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Costa Rica ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Costa Rica (+24.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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