Ecuador: Milling Industry Machinery Market 2024

Milling Industry Machinery Market Size in Ecuador

The Ecuadorian milling industry machinery market soared to $X in 2022, picking up by X% against the previous year. In general, consumption showed a relatively flat trend pattern. Milling industry machinery consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Milling Industry Machinery Production in Ecuador

In value terms, milling industry machinery production reached $X in 2022 estimated in export price. Over the period under review, production, however, recorded a pronounced decline. The growth pace was the most rapid in 2018 when the production volume increased by X%. Milling industry machinery production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Milling Industry Machinery Exports

Exports from Ecuador

For the third consecutive year, Ecuador recorded growth in overseas shipments of milling industry machinery, which increased by X% to X units in 2022. Overall, exports recorded a temperate expansion. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, milling industry machinery exports soared to $X in 2022. In general, exports, however, saw a perceptible slump. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Peru (X units) was the main destination for milling industry machinery exports from Ecuador, with a X% share of total exports. Moreover, milling industry machinery exports to Peru exceeded the volume sent to the second major destination, Bolivia (X units), ninefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Peru stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (X% per year) and Chile (X% per year).

In value terms, Peru ($X) remains the key foreign market for milling industry machinery exports from Ecuador, comprising X% of total exports. The second position in the ranking was held by Bolivia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Peru stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (X% per year) and Chile (X% per year).

Export Prices by Country

The average milling industry machinery export price stood at $X per unit in 2022, growing by X% against the previous year. In general, the export price, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2015 when the average export price increased by X%. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Chile ($X per unit), while the average price for exports to Peru ($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 Venezuela (X%), while the prices for the other major destinations experienced mixed trend patterns.

Milling Industry Machinery Imports

Imports into Ecuador

In 2022, milling industry machinery imports into Ecuador soared to X units, with an increase of X% against the previous year's figure. In general, imports continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, milling industry machinery imports surged to $X in 2022. Overall, imports saw a strong increase. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest milling industry machinery supplier to Ecuador, accounting for a X% share of total imports. Moreover, milling industry machinery imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), more than tenfold. The third position in this ranking was taken by Germany (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (X% per year) and Germany (X% per year).

In value terms, China ($X) constituted the largest supplier of milling industry machinery to Ecuador, comprising X% of total imports. The second position in the ranking was taken by Switzerland ($X), with an X% share of total imports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (X% per year) and Hong Kong SAR (X% per year).

Import Prices by Country

The average milling industry machinery import price stood at $X per unit in 2022, which is down by X% against the previous year. Overall, the import price, however, continues to indicate perceptible growth. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :