Ecuador: Market for Table, Kitchen Or Household Articles Of Cast Iron 2024

Market Size for Table, Kitchen Or Household Articles Of Cast Iron in Ecuador

The Ecuadorian cast iron household articles market soared to $X in 2022, jumping by 31% 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). Over the period under review, consumption recorded a temperate expansion. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Exports of Table, Kitchen Or Household Articles Of Cast Iron

Exports from Ecuador

In 2022, shipments abroad of table, kitchen or household articles of cast iron was finally on the rise to reach X kg for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports recorded slight growth. The growth pace was the most rapid in 2015 when exports increased by 1,253%. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, cast iron household articles exports skyrocketed to $X in 2022. In general, exports, however, showed a pronounced descent. The most prominent rate of growth was recorded in 2015 when exports increased by 1,703%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X kg) was the main destination for cast iron household articles exports from Ecuador, accounting for a 96% share of total exports. It was followed by Chile (X kg), with a 1.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +60.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+13.7% per year) and El Salvador (-27.7% per year).

In value terms, the United States ($X) remains the key foreign market for table, kitchen or household articles of cast iron exports from Ecuador, comprising 92% of total exports. The second position in the ranking was held by Chile ($X), with a 2.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +41.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+18.2% per year) and El Salvador (-28.9% per year).

Export Prices by Country

The average cast iron household articles export price stood at $X per ton in 2022, increasing by 19% against the previous year. Overall, the export price, however, recorded a perceptible setback. The pace of growth appeared the most rapid in 2014 when the average export price increased by 56%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to El Salvador ($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 Peru (+32.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Table, Kitchen Or Household Articles Of Cast Iron

Imports into Ecuador

In 2022, the amount of table, kitchen or household articles of cast iron imported into Ecuador surged to X tons, jumping by 53% on the previous year's figure. Overall, imports enjoyed prominent growth. The most prominent rate of growth was recorded in 2019 when imports increased by 288%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, cast iron household articles imports rose remarkably to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 272%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest cast iron household articles supplier to Ecuador, with a 60% share of total imports. Moreover, cast iron household articles imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X tons), threefold. The third position in this ranking was held by Colombia (X tons), with a 13% 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: Hong Kong SAR (+27.9% per year) and Colombia (+20.0% per year).

In value terms, China ($X) constituted the largest supplier of table, kitchen or household articles of cast iron to Ecuador, comprising 50% of total imports. The second position in the ranking was taken by Colombia ($X), with a 21% share of total imports. It was followed by Hong Kong SAR, with an 8.8% share.

From 2012 to 2022, the average annual growth rate of value from China totaled -2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+9.0% per year) and Hong Kong SAR (+6.4% per year).

Import Prices by Country

In 2022, the average cast iron household articles import price amounted to $X per ton, shrinking by -25% against the previous year. Over the period under review, the import price continues to indicate a drastic downturn. The growth pace was the most rapid in 2021 when the average import price increased by 29%. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Peru ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (-4.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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