Ecuador: Market for Tennis, Badminton Or Similar Rackets 2024

Market Size for Tennis, Badminton Or Similar Rackets in Ecuador

The Ecuadorian tennis and badminton rackets market contracted to $X in 2022, declining by -12.2% 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 showed a noticeable curtailment. Tennis and badminton rackets consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Exports of Tennis, Badminton Or Similar Rackets

Exports from Ecuador

In 2022, shipments abroad of tennis, badminton or similar rackets decreased by -50% to X units for the first time since 2018, thus ending a three-year declining trend. Overall, exports, however, saw a prominent expansion. The pace of growth appeared the most rapid in 2013 with an increase of 300% against the previous year. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, tennis and badminton rackets exports contracted significantly to $X in 2022. In general, exports, however, showed buoyant growth. The pace of growth appeared the most rapid in 2014 when exports increased by 150%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Guatemala (X units), Costa Rica (X units) and El Salvador (X units) were the main destinations of tennis and badminton rackets exports from Ecuador.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guatemala (with a CAGR of 0.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for tennis and badminton rackets exported from Ecuador were Costa Rica ($X), Guatemala ($X) and El Salvador ($X).

Among the main countries of destination, Guatemala, with a CAGR of +22.5%, 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

The average tennis and badminton rackets export price stood at $X per unit in 2022, picking up by 47% against the previous year. Overall, the export price enjoyed a measured increase. The most prominent rate of growth was recorded in 2014 when the average export price increased by 89% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Costa Rica ($X per unit), while the average price for exports to El Salvador ($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 Costa Rica (+4.2%).

Imports of Tennis, Badminton Or Similar Rackets

Imports into Ecuador

In 2022, approx. X units of tennis, badminton or similar rackets were imported into Ecuador; waning by -10.9% on 2021. In general, imports saw a noticeable curtailment. The pace of growth appeared the most rapid in 2017 with an increase of 393%. Over the period under review, imports reached the peak figure at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, tennis and badminton rackets imports fell to $X in 2022. Over the period under review, imports recorded a abrupt decline. The most prominent rate of growth was recorded in 2017 when imports increased by 348% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of tennis and badminton rackets to Ecuador, accounting for a 52% share of total imports. Moreover, tennis and badminton rackets imports from China exceeded the figures recorded by the second-largest supplier, Panama (X units), ninefold. The third position in this ranking was held by Hong Kong SAR (X units), with a 2.9% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (+3.5% per year) and Hong Kong SAR (-15.7% per year).

In value terms, the largest tennis and badminton rackets suppliers to Ecuador were China ($X), Panama ($X) and France ($X), with a combined 41% share of total imports. Hong Kong SAR, the United States and Italy lagged somewhat behind, together comprising a further 8.8%.

Among the main suppliers, Italy, with a CAGR of +9.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average tennis and badminton rackets import price stood at $X per unit in 2022, waning by -2.4% against the previous year. In general, the import price recorded a mild descent. The pace of growth appeared the most rapid in 2015 an increase of 51% against the previous year. As a result, import price attained the peak level of $X per unit. From 2016 to 2022, the average import prices remained at a 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 the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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