Ecuador: Natural Stone Sett Market 2024

Natural Stone Sett Market Size in Ecuador

The Ecuadorian natural stone sett market contracted to $X in 2022, which is down by -1.9% against the previous year. In general, consumption, however, posted a prominent increase. Natural stone sett consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Natural Stone Sett Production in Ecuador

In value terms, natural stone sett production contracted to $X in 2022 estimated in export price. In general, production, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2016 with an increase of 39%. Natural stone sett production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Natural Stone Sett Exports

Exports from Ecuador

In 2022, the amount of natural stone setts, kerbstones and flagstones exported from Ecuador rose significantly to X tons, picking up by 9.6% against the year before. Overall, exports continue to indicate resilient growth. The growth pace was the most rapid in 2013 with an increase of 303%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, natural stone sett exports totaled $X in 2022. In general, exports recorded a resilient expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 269%. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for natural stone sett exports from Ecuador, with a 75% share of total exports. Moreover, natural stone sett exports to the United States exceeded the volume sent to the second major destination, Peru (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +20.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+9.7% per year) and Aruba (+2.1% per year).

In value terms, the United States ($X), Aruba ($X) and Peru ($X) constituted the largest markets for natural stone sett exported from Ecuador worldwide.

Among the main countries of destination, Aruba, with a CAGR of +26.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average natural stone sett export price stood at $X per ton in 2022, leveling off at the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 10%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Aruba ($X per ton), while the average price for exports to the United States ($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 Aruba (+24.1%), while the prices for the other major destinations experienced a decline.

Natural Stone Sett Imports

Imports into Ecuador

In 2022, overseas purchases of natural stone setts, kerbstones and flagstones increased by 181% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, saw a deep reduction. The most prominent rate of growth was recorded in 2019 when imports increased by 320% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, natural stone sett imports surged to $X in 2022. In general, imports, however, showed a mild decrease. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Spain (X tons) constituted the largest natural stone sett supplier to Ecuador, with a 55% share of total imports. Moreover, natural stone sett imports from Spain exceeded the figures recorded by the second-largest supplier, India (X tons), fourfold. The United States (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Spain totaled +35.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-23.3% per year) and the United States (+9.6% per year).

In value terms, Spain ($X), the United States ($X) and India ($X) appeared to be the largest natural stone sett suppliers to Ecuador, together comprising 93% of total imports.

Among the main suppliers, Spain, with a CAGR of +19.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average natural stone sett import price stood at $X per ton in 2022, with an increase of 39% against the previous year. Over the period under review, the import price posted resilient growth. The pace of growth was the most pronounced in 2016 when the average import price increased by 52% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+13.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :