Ecuador: Spectacles And Goggles Market 2024

Spectacles And Goggles Market Size in Ecuador

The Ecuadorian spectacles and goggles market dropped remarkably to $X in 2021, falling by -41.9% 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). In general, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then reduced rapidly in the following year.

Spectacles And Goggles Exports

Exports from Ecuador

For the third consecutive year, Ecuador recorded growth in overseas shipments of spectacles and goggles, which increased by 152% to X units in 2021. Overall, exports posted a remarkable increase. The most prominent rate of growth was recorded in 2013 with an increase of 383% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, spectacles and goggles exports skyrocketed to $X in 2021. Over the period under review, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 518% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

The United States (X units) was the main destination for spectacles and goggles exports from Ecuador, with a 77% share of total exports. Moreover, spectacles and goggles exports to the United States exceeded the volume sent to the second major destination, Peru (X units), sixfold. The third position in this ranking was taken by Colombia (X units), with a 6% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +132.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (-7.2% per year) and Colombia (-0.3% per year).

In value terms, the United States ($X) emerged as the key foreign market for spectacles and goggles exports from Ecuador, comprising 77% of total exports. The second position in the ranking was taken by Peru ($X), with a 13% share of total exports. It was followed by Colombia, with a 6.1% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +122.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+0.8% per year) and Colombia (+10.7% per year).

Export Prices by Country

In 2021, the average spectacles and goggles export price amounted to $X per unit, picking up by 100% against the previous year. Over the period under review, the export price posted a strong expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were Honduras ($X per unit) and Colombia ($X per unit), while the average price for exports to the United States ($X per unit) and Peru ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+11.1%), while the prices for the other major destinations experienced mixed trend patterns.

Spectacles And Goggles Imports

Imports into Ecuador

In 2021, imports of spectacles and goggles into Ecuador fell dramatically to X units, which is down by -49.3% compared with the previous year's figure. In general, imports, however, recorded noticeable growth. The most prominent rate of growth was recorded in 2020 when imports increased by 87%. As a result, imports attained the peak of X units, and then plummeted in the following year.

In value terms, spectacles and goggles imports dropped markedly to $X in 2021. Over the period under review, imports saw a mild setback. The most prominent rate of growth was recorded in 2020 when imports increased by 57% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of spectacles and goggles to Ecuador, with a 77% share of total imports. Moreover, spectacles and goggles imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), sevenfold. Argentina (X units) ranked third in terms of total imports with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +14.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+5.9% per year) and Argentina (+11.6% per year).

In value terms, China ($X) constituted the largest supplier of spectacles and goggles to Ecuador, comprising 60% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 14% share of total imports. It was followed by the United States, with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +10.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+6.6% per year) and the United States (-18.0% per year).

Import Prices by Country

In 2021, the average spectacles and goggles import price amounted to $X per unit, picking up by 26% against the previous year. Over the period under review, the import price, however, saw a noticeable curtailment. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China ($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 (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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