Ecuador: Metal Office Furniture Market 2024

Metal Office Furniture Market Size in Ecuador

The Ecuadorian metal office furniture market stood at $X in 2022, standing approx. at the previous year. In general, the total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -6.7% against 2020 indices. Metal office furniture consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Metal Office Furniture Production in Ecuador

In value terms, metal office furniture production expanded slightly to $X in 2022 estimated in export price. Overall, the total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.7% against 2020 indices. The growth pace was the most rapid in 2013 when the production volume increased by 80% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Metal Office Furniture Exports

Exports from Ecuador

In 2022, after three years of decline, there was significant growth in shipments abroad of metal office furniture, when their volume increased by 39% to X tons. Over the period under review, exports, however, continue to indicate a abrupt decrease. The growth pace was the most rapid in 2014 when exports increased by 149%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, metal office furniture exports soared to $X in 2022. Overall, exports, however, continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2014 with an increase of 186% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Canada (X tons) was the main destination for metal office furniture exports from Ecuador, with a 83% share of total exports. Moreover, metal office furniture exports to Canada exceeded the volume sent to the second major destination, Costa Rica (X kg), more than tenfold. The third position in this ranking was taken by Guatemala (X kg), with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada amounted to +31.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (-0.8% per year) and Guatemala (+7.9% per year).

In value terms, Canada ($X) remains the key foreign market for metal office furniture exports from Ecuador, comprising 80% of total exports. The second position in the ranking was taken by Peru ($X), with a 7.2% share of total exports. It was followed by Chile, with a 2.8% share.

From 2012 to 2022, the average annual growth rate of value to Canada amounted to +28.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (-12.5% per year) and Chile (-26.0% per year).

Export Prices by Country

In 2022, the average metal office furniture export price amounted to $X per ton, waning by -16.1% against the previous year. In general, the export price continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 24% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+16.0%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Office Furniture Imports

Imports into Ecuador

In 2022, overseas purchases of metal office furniture decreased by -33.7% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports saw a abrupt decline. The pace of growth appeared the most rapid in 2019 with an increase of 149% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, metal office furniture imports rose markedly to $X in 2022. In general, imports continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2019 when imports increased by 158%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of metal office furniture to Ecuador, accounting for a 40% share of total imports. Moreover, metal office furniture imports from China exceeded the figures recorded by the second-largest supplier, Colombia (X tons), twofold. Spain (X tons) ranked third in terms of total imports with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -18.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (-14.0% per year) and Spain (+11.2% per year).

In value terms, Colombia ($X), China ($X) and Spain ($X) appeared to be the largest metal office furniture suppliers to Ecuador, with a combined 57% share of total imports. Italy, Panama, the Netherlands, the United States, Canada, Germany, Indonesia and Peru lagged somewhat behind, together accounting for a further 33%.

Among the main suppliers, Italy, with a CAGR of +25.0%, saw 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

In 2022, the average metal office furniture import price amounted to $X per ton, increasing by 65% against the previous year. Overall, import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal office furniture import price increased by +80.7% against 2020 indices. The pace of growth was the most pronounced in 2014 an increase of 69%. The import price peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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