Ecuador: Ophthalmic Instruments Market 2024

Ophthalmic Instruments Market Size in Ecuador

The Ecuadorian ophthalmic instruments market soared to $X in 2021, rising by 28% 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). Over the period under review, consumption, however, recorded a abrupt contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Ophthalmic Instruments Exports

Exports from Ecuador

In 2021, the amount of ophthalmic instruments and appliances exported from Ecuador soared to X tons, rising by 875% against the year before. Over the period under review, exports recorded significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, ophthalmic instruments exports skyrocketed to $X in 2021. Overall, exports saw a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X kg) was the main destination for ophthalmic instruments exports from Ecuador, with a 52% share of total exports. Moreover, ophthalmic instruments exports to the United States exceeded the volume sent to the second major destination, Costa Rica (X kg), twofold. The third position in this ranking was taken by Colombia (X kg), with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +54.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (0.0% per year) and Colombia (+37.2% per year).

In value terms, the United States ($X) emerged as the key foreign market for ophthalmic instruments and appliances exports from Ecuador, comprising 57% of total exports. The second position in the ranking was held by Colombia ($X), with a 22% share of total exports. It was followed by Germany, with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +126.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+55.1% per year) and Germany (+27.9% per year).

Export Prices by Country

In 2021, the average ophthalmic instruments export price amounted to $X per ton, which is down by -40.2% against the previous year. In general, the export price, however, posted perceptible growth. The most prominent rate of growth was recorded in 2013 when the average export price increased by 128% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per ton), while the average price for exports to Costa Rica ($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 the United States (+45.6%), while the prices for the other major destinations experienced more modest paces of growth.

Ophthalmic Instruments Imports

Imports into Ecuador

Ophthalmic instruments imports into Ecuador surged to X tons in 2021, rising by 32% on the previous year's figure. Over the period under review, imports, however, continue to indicate a perceptible descent. The pace of growth was the most pronounced in 2014 with an increase of 67% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, ophthalmic instruments imports soared to $X in 2021. Overall, imports, however, saw a deep downturn. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of ophthalmic instruments to Ecuador, with a 53% share of total imports. Moreover, ophthalmic instruments imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was taken by Germany (X tons), with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-10.0% per year) and Germany (-12.2% per year).

In value terms, the largest ophthalmic instruments suppliers to Ecuador were the United States ($X), Germany ($X) and China ($X), together accounting for 57% of total imports.

In terms of the main suppliers, China, with a CAGR of +2.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average ophthalmic instruments import price amounted to $X per ton, approximately equating the previous year. Over the period under review, the import price, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 an increase of 29% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+9.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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