Ecuador: Sunglasses Market 2024

Sunglasses Market Size in Ecuador

The Ecuadorian sunglasses market contracted to $X in 2022, waning by -8.3% against the previous year. Overall, consumption saw a pronounced slump. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Sunglasses Production in Ecuador

In value terms, sunglasses production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 13% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Sunglasses Exports

Exports from Ecuador

In 2022, the amount of sunglasses exported from Ecuador expanded notably to X units, rising by 7.5% on the previous year. Over the period under review, exports posted a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 409%. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, sunglasses exports declined modestly to $X in 2022. Overall, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 394%. The exports peaked at $X in 2021, and then contracted modestly in the following year.

Exports by Country

Colombia (X units), Peru (X units) and Venezuela (X units) were the main destinations of sunglasses exports from Ecuador, with a combined 75% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Venezuela (with a CAGR of +74.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sunglasses exported from Ecuador were Colombia ($X), Peru ($X) and Venezuela ($X), together comprising 73% of total exports. Bermuda, the United States, Guatemala and Cuba lagged somewhat behind, together accounting for a further 18%.

Among the main countries of destination, Guatemala, with a CAGR of +113.8%, recorded 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

The average sunglasses export price stood at $X per unit in 2022, falling by -7.5% against the previous year. Overall, the export price recorded a abrupt descent. The growth pace was the most rapid in 2014 when the average export price increased by 115% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bermuda ($X per unit), while the average price for exports to Cuba ($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 Guatemala (+44.9%), while the prices for the other major destinations experienced more modest paces of growth.

Sunglasses Imports

Imports into Ecuador

Sunglasses imports into Ecuador fell to X units in 2022, shrinking by -6.9% compared with the year before. Over the period under review, imports recorded a noticeable contraction. The most prominent rate of growth was recorded in 2017 with an increase of 85% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, sunglasses imports fell dramatically to $X in 2022. Overall, imports showed a abrupt setback. The growth pace was the most rapid in 2021 with an increase of 49%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest sunglasses supplier to Ecuador, accounting for a 30% share of total imports. Moreover, sunglasses imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), threefold. The third position in this ranking was taken by Chile (X units), with a 7.9% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -13.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+2.9% per year) and Chile (+45.5% per year).

In value terms, Italy ($X), China ($X) and the United States ($X) appeared to be the largest sunglasses suppliers to Ecuador, with a combined 56% share of total imports. Uruguay, Taiwan (Chinese), Chile and Hong Kong SAR lagged somewhat behind, together accounting for a further 5.2%.

Uruguay, with a CAGR of +46.2%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average sunglasses import price amounted to $X per unit, shrinking by -10.2% against the previous year. In general, the import price recorded a mild descent. The pace of growth appeared the most rapid in 2018 an increase of 47%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Chile ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :