Ecuador: Plastic Ornamental Articles Market 2024

Plastic Ornamental Articles Market Size in Ecuador

The Ecuadorian plastic ornamental articles market dropped to $X in 2022, waning by -13.8% 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 faced a abrupt shrinkage. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Plastic Ornamental Articles Exports

Exports from Ecuador

After three years of growth, shipments abroad of statuettes and other ornamental articles of plastic decreased by -31.6% to X tons in 2022. Over the period under review, exports saw a deep downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 208%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, plastic ornamental articles exports shrank dramatically to $X in 2022. Overall, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 189% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for plastic ornamental articles exports from Ecuador, accounting for a 85% share of total exports. Moreover, plastic ornamental articles exports to the United States exceeded the volume sent to the second major destination, Spain (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +16.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+1.6% per year) and Canada (+46.8% per year).

In value terms, the United States ($X) emerged as the key foreign market for statuettes and other ornamental articles of plastic exports from Ecuador, comprising 72% of total exports. The second position in the ranking was taken by Canada ($X), with a 9.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +12.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+75.7% per year) and Spain (+1.9% per year).

Export Prices by Country

The average plastic ornamental articles export price stood at $X per ton in 2022, reducing by -1.5% against the previous year. Over the period under review, the export price, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2017 an increase of 56% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to the United States ($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 Colombia (+35.7%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Ornamental Articles Imports

Imports into Ecuador

Plastic ornamental articles imports into Ecuador dropped to X tons in 2022, shrinking by -8.1% on 2021 figures. Over the period under review, imports continue to indicate a abrupt downturn. The growth pace was the most rapid in 2014 with an increase of 27% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, plastic ornamental articles imports declined to $X in 2022. In general, imports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 42% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) was the main supplier of plastic ornamental articles to Ecuador, with a 90% share of total imports. It was followed by Vietnam (X tons), with a 1.9% share of total imports. The third position in this ranking was taken by the United States (X tons), with a 1.8% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+57.3% per year) and the United States (-18.4% per year).

In value terms, China ($X) constituted the largest supplier of statuettes and other ornamental articles of plastic to Ecuador, comprising 85% of total imports. The second position in the ranking was held by the United States ($X), with a 3.7% share of total imports. It was followed by Brazil, with a 2.4% 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: the United States (-19.4% per year) and Brazil (+120.9% per year).

Import Prices by Country

The average plastic ornamental articles import price stood at $X per ton in 2022, shrinking by -7.3% against the previous year. In general, the import price showed a mild decrease. The most prominent rate of growth was recorded in 2021 when the average import price increased by 16% against the previous year. The import price peaked at $X per ton 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 the United States ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+5.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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