Ecuador: Personal Weighing Machine Market 2024

Personal Weighing Machine Market Size in Ecuador

The Ecuadorian personal weighing machine market shrank to $X in 2022, dropping by -10.3% 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, the total consumption indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.3% 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 -20.2% against 2019 indices. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Personal Weighing Machine Exports

Exports from Ecuador

In 2022, exports of personal weighing machines from Ecuador stood at X units, with an increase of 4.9% compared with 2021. Over the period under review, exports continue to indicate buoyant growth. The growth pace was the most rapid in 2017 with an increase of 105% against the previous year. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, personal weighing machine exports skyrocketed to $X in 2022. Overall, exports continue to indicate strong growth. The growth pace was the most rapid in 2017 when exports increased by 51% against the previous year. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Colombia (X units), Peru (X units) and Bermuda (X units) were the main destinations of personal weighing machine exports from Ecuador, together comprising 97% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Peru (with a CAGR of +24.1%), while the other leaders experienced mixed trend patterns.

In value terms, Colombia ($X), Peru ($X) and Bermuda ($X) constituted the largest markets for personal weighing machine exported from Ecuador worldwide, with a combined 96% share of total exports.

Colombia, with a CAGR of +14.6%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average personal weighing machine export price stood at $X per unit in 2022, surging by 21% against the previous year. Overall, export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, personal weighing machine export price decreased by -13.3% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by 47% against the previous year. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Panama ($X per unit), while the average price for exports to Bermuda ($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 Panama (+25.5%), while the prices for the other major destinations experienced more modest paces of growth.

Personal Weighing Machine Imports

Imports into Ecuador

In 2022, approx. X units of personal weighing machines were imported into Ecuador; which is down by -13.5% compared with the previous year. Overall, total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +79.3% against 2016 indices. The pace of growth was the most pronounced in 2013 when imports increased by 103%. Over the period under review, imports reached the maximum at X units in 2021, and then contracted in the following year.

In value terms, personal weighing machine imports contracted to $X in 2022. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 62% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) was the main supplier of personal weighing machine to Ecuador, accounting for a 98% share of total imports. It was followed by Germany (X units), with a 0.7% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +9.2%.

In value terms, China ($X) constituted the largest supplier of personal weighing machines to Ecuador, comprising 74% of total imports. The second position in the ranking was taken by Germany ($X), with an 8.5% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled +4.2%.

Import Prices by Country

In 2022, the average personal weighing machine import price amounted to $X per unit, rising by 6.3% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt decline. The pace of growth appeared the most rapid in 2017 when the average import price increased by 20%. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for China amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+14.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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