Ecuador: Multiple Loudspeakers Market 2024

Multiple Loudspeakers Market Size in Ecuador

The Ecuadorian multiple loudspeakers market rose rapidly to $X in 2021, increasing by 14% 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). Overall, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Multiple Loudspeakers Exports

Exports from Ecuador

For the third year in a row, Ecuador recorded growth in overseas shipments of multiple loudspeakers (in enclosure), which increased by 15% to X units in 2021. Overall, exports showed a buoyant increase. The pace of growth was the most pronounced in 2017 when exports increased by 510% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, multiple loudspeakers exports skyrocketed to $X in 2021. Over the period under review, exports posted significant growth. The growth pace was the most rapid in 2020 when exports increased by 132% against the previous year. The exports peaked in 2021 and are likely to continue growth in years to come.

Exports by Country

Bolivia (X units) was the main destination for multiple loudspeakers exports from Ecuador, accounting for a 57% share of total exports. Moreover, multiple loudspeakers exports to Bolivia exceeded the volume sent to the second major destination, Venezuela (X units), threefold. The third position in this ranking was held by Costa Rica (X units), with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Bolivia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (+18.2% per year) and Costa Rica (+26.0% per year).

In value terms, Bolivia ($X) emerged as the key foreign market for multiple loudspeakers (in enclosure) exports from Ecuador, comprising 83% of total exports. The second position in the ranking was taken by the United States ($X), with a 12% share of total exports. It was followed by Venezuela, with a 1.8% share.

From 2012 to 2021, the average annual growth rate of value to Bolivia amounted to +7,071.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+7.7% per year) and Venezuela (+22.0% per year).

Export Prices by Country

The average multiple loudspeakers export price stood at $X per unit in 2021, surging by 38% against the previous year. In general, the export price continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by 539%. The export price peaked in 2021 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Honduras ($X per unit), while the average price for exports to Costa Rica ($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 Bolivia (+415.4%), while the prices for the other major destinations experienced more modest paces of growth.

Multiple Loudspeakers Imports

Imports into Ecuador

In 2021, the amount of multiple loudspeakers (in enclosure) imported into Ecuador rose notably to X units, with an increase of 13% against 2020. In general, imports, however, saw a noticeable reduction. The most prominent rate of growth was recorded in 2020 with an increase of 108%. Over the period under review, imports hit record highs at X units in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, multiple loudspeakers imports rose rapidly to $X in 2021. Overall, imports recorded a perceptible expansion. The most prominent rate of growth was recorded in 2020 with an increase of 130%. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest multiple loudspeakers supplier to Ecuador, with a 87% share of total imports. Moreover, multiple loudspeakers imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. The third position in this ranking was taken by Panama (X units), with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-16.4% per year) and Panama (-20.1% per year).

In value terms, China ($X) constituted the largest supplier of multiple loudspeakers (in enclosure) to Ecuador, comprising 46% of total imports. The second position in the ranking was held by Panama ($X), with a 19% share of total imports. It was followed by the United States, with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +10.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (+1.5% per year) and the United States (-7.2% per year).

Import Prices by Country

In 2021, the average multiple loudspeakers import price amounted to $X per unit, approximately equating the previous year. Overall, import price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, multiple loudspeakers import price increased by +14.3% against 2018 indices. The pace of growth appeared the most rapid in 2014 an increase of 41%. Over the period under review, average import prices reached the peak figure at $X per unit in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Panama ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+27.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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