Ecuador: Pump For Liquid Market 2024

Pump For Liquid Market Size in Ecuador

In 2021, the Ecuadorian pump for liquid market increased by 35% to $X, rising for the fifth year in a row after three years of decline. In general, consumption enjoyed tangible growth. Pump for liquid consumption peaked in 2021 and is expected to retain growth in the immediate term.

Pump For Liquid Production in Ecuador

In value terms, pump for liquid production shrank to $X in 2021 estimated in export price. Overall, production, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of 183% against the previous year. Pump for liquid production peaked at $X in 2020, and then reduced modestly in the following year.

Pump For Liquid Exports

Exports from Ecuador

In 2021, exports of pumps for liquids and liquid elevators from Ecuador rose notably to X units, increasing by 6.5% on the previous year's figure. Over the period under review, exports recorded a strong increase. The pace of growth was the most pronounced in 2020 when exports increased by 251%. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in years to come.

In value terms, pump for liquid exports dropped sharply to $X in 2021. In general, exports showed a strong expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 136% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020, and then contracted dramatically in the following year.

Exports by Country

Colombia (X units), Nicaragua (X units) and Venezuela (X units) were the main destinations of pump for liquid exports from Ecuador, with a combined 65% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Nicaragua (with a CAGR of +416.8%), while the other leaders experienced more modest paces of growth.

In value terms, Colombia ($X), Nicaragua ($X) and the United States ($X) constituted the largest markets for pump for liquid exported from Ecuador worldwide, with a combined 52% share of total exports.

In terms of the main countries of destination, Nicaragua, with a CAGR of +192.6%, saw the highest growth rate of 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

In 2021, the average pump for liquid export price amounted to $X per unit, reducing by -27.2% against the previous year. Overall, the export price, however, posted mild growth. The most prominent rate of growth was recorded in 2013 an increase of 136% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Venezuela ($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 the United States (+15.2%), while the prices for the other major destinations experienced mixed trend patterns.

Pump For Liquid Imports

Imports into Ecuador

In 2021, purchases abroad of pumps for liquids and liquid elevators increased by 23% to X units, rising for the fifth year in a row after four years of decline. In general, imports saw a prominent expansion. The pace of growth appeared the most rapid in 2019 when imports increased by 100% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, pump for liquid imports surged to $X in 2021. Overall, imports, however, saw a relatively flat trend pattern. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest pump for liquid supplier to Ecuador, accounting for a 84% share of total imports. Moreover, pump for liquid imports from China exceeded the figures recorded by the second-largest supplier, Colombia (X units), more than tenfold. The United States (X units) ranked third in terms of total imports with a 1.8% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +13.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+22.1% per year) and the United States (-19.7% per year).

In value terms, the largest pump for liquid suppliers to Ecuador were China ($X), the United States ($X) and Colombia ($X), with a combined 59% share of total imports.

China, with a CAGR of +10.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average pump for liquid import price amounted to $X per unit, increasing by 35% against the previous year. In general, the import price, however, saw a abrupt shrinkage. Over the period under review, average import prices hit record highs at $X per unit in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+14.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform