Ecuador: Plaits And Basketwork Market 2024

Plaits And Basketwork Market Size in Ecuador

The Ecuadorian plaits and basketwork market expanded remarkably to $X in 2022, rising by 6.1% against the previous year. The market value increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Plaits And Basketwork Production in Ecuador

In value terms, plaits and basketwork production rose sharply to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when the production volume increased by 33%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Plaits And Basketwork Exports

Exports from Ecuador

In 2022, approx. X tons of plaits, basketwork, wickerwork and similar products of plaiting materials were exported from Ecuador; with a decrease of -14.9% on the year before. Over the period under review, exports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2016 when exports increased by 59% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, plaits and basketwork exports declined to $X in 2022. In general, exports, however, posted a prominent expansion. The pace of growth was the most pronounced in 2016 with an increase of 47%. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for plaits and basketwork exports from Ecuador, accounting for a 49% share of total exports. Moreover, plaits and basketwork exports to the United States exceeded the volume sent to the second major destination, Portugal (X tons), fourfold. The third position in this ranking was taken by France (X tons), with a 3.9% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +14.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+49.7% per year) and France (-10.5% per year).

In value terms, the United States ($X) remains the key foreign market for plaits, basketwork, wickerwork and similar products of plaiting materials exports from Ecuador, comprising 45% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 7.3% share of total exports. It was followed by France, with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +24.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+35.4% per year) and France (+2.9% per year).

Export Prices by Country

The average plaits and basketwork export price stood at $X per ton in 2022, with an increase of 12% against the previous year. In general, export price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plaits and basketwork export price decreased by -14.1% against 2020 indices. The pace of growth was the most pronounced in 2020 an increase of 43%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Costa Rica ($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 Bermuda (+22.8%), while the prices for the other major destinations experienced more modest paces of growth.

Plaits And Basketwork Imports

Imports into Ecuador

In 2022, purchases abroad of plaits, basketwork, wickerwork and similar products of plaiting materials was finally on the rise to reach X tons after three years of decline. In general, imports, however, recorded a abrupt contraction. The growth pace was the most rapid in 2017 with an increase of 120% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, plaits and basketwork imports reached $X in 2022. Overall, imports, however, recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 152%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of plaits and basketwork to Ecuador, with a 78% share of total imports. Moreover, plaits and basketwork imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold. The Philippines (X tons) ranked third in terms of total imports with a 2.3% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+20.0% per year) and the Philippines (-23.5% per year).

In value terms, China ($X) constituted the largest supplier of plaits, basketwork, wickerwork and similar products of plaiting materials to Ecuador, comprising 73% of total imports. The second position in the ranking was held by India ($X), with a 1.8% share of total imports. It was followed by the Philippines, with a 1.1% share.

From 2012 to 2022, the average annual growth rate of value from China totaled -7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+6.5% per year) and the Philippines (-25.7% per year).

Import Prices by Country

The average plaits and basketwork import price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The pace of growth was the most pronounced in 2019 when the average import price increased by 30% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 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 China ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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