Ecuador: Timer Market 2025

Timer Market Size in Ecuador

In 2022, the Ecuadorian timer market decreased by -28% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption faced a abrupt curtailment. Timer consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Timer Exports

Exports from Ecuador

In 2022, after two years of growth, there was significant decline in shipments abroad of timers, when their volume decreased by -41.7% to X units. Overall, exports showed a significant contraction. The pace of growth appeared the most rapid in 2013 with an increase of 233%. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, timer exports declined dramatically to $X in 2022. Over the period under review, exports faced a abrupt shrinkage. The pace of growth was the most pronounced in 2021 when exports increased by 549% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Chile (X units), Canada (X units) and the United States (X units) were the main destinations of timer exports from Ecuador. Moreover, timer exports in Chile exceeded the figures recorded by the second-largest exporter, Canada, twofold.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Chile (with a CAGR of -14.9%), while the other leaders experienced a decline.

In value terms, Chile ($X) remains the key foreign market for timers exports from Ecuador, comprising 90% of total exports. The second position in the ranking was taken by Canada ($X), with a 5.7% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Chile totaled +3.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-13.3% per year) and the United States (-39.2% per year).

Export Prices by Country

The average timer export price stood at $X per unit in 2022, remaining stable against the previous year. In general, the export price, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2021 an increase of 170%. As a result, the export price attained the peak level of $X per unit, and then contracted slightly in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per unit), while the average price for exports to Canada ($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 Chile (+21.3%), while the prices for the other major destinations experienced mixed trend patterns.

Timer Imports

Imports into Ecuador

In 2022, supplies from abroad of timers decreased by -31.3% to X units for the first time since 2019, thus ending a two-year rising trend. In general, imports continue to indicate a deep downturn. The pace of growth was the most pronounced in 2021 when imports increased by 169% against the previous year. Imports peaked at X units in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, timer imports dropped remarkably to $X in 2022. Overall, imports continue to indicate a deep downturn. The pace of growth was the most pronounced in 2021 with an increase of 85%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of timer to Ecuador, accounting for a 37% share of total imports. Moreover, timer imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), threefold. Taiwan (Chinese) (X units) ranked third in terms of total imports with a 9.4% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-11.6% per year) and Taiwan (Chinese) (-7.8% per year).

In value terms, China ($X) constituted the largest supplier of timers to Ecuador, comprising 36% of total imports. The second position in the ranking was held by the United States ($X), with a 15% share of total imports. It was followed by South Korea, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to -13.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-27.3% per year) and South Korea (-21.9% per year).

Import Prices by Country

The average timer import price stood at $X per unit in 2022, increasing by 12% against the previous year. Over the period under review, the import price, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2018 an increase of 58% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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