Ecuador: Non-Propelled Vehicle Market 2024

Non-Propelled Vehicle Market Size in Ecuador

The Ecuadorian non-propelled vehicle market skyrocketed to $X in 2021, jumping by 21% 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, however, recorded a deep slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Non-Propelled Vehicle Exports

Exports from Ecuador

In 2021, approx. X units of vehicles not mechanically propelled were exported from Ecuador; with a decrease of -70.2% against the previous year. Over the period under review, exports, however, showed a slight increase. The pace of growth appeared the most rapid in 2019 with an increase of 644%. As a result, the exports attained the peak of X units. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, non-propelled vehicle exports dropped remarkably to $X in 2021. Overall, exports, however, showed buoyant growth. The growth pace was the most rapid in 2017 when exports increased by 569% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for non-propelled vehicle exports from Ecuador, with a 80% share of total exports. Moreover, non-propelled vehicle exports to the United States exceeded the volume sent to the second major destination, Mexico (X units), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +32.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+52.8% per year) and Bolivia (0.0% per year).

In value terms, the United States ($X) emerged as the key foreign market for non-propelled vehicle exports from Ecuador, comprising 68% of total exports. The second position in the ranking was taken by Bolivia ($X), with an 18% share of total exports. It was followed by Mexico, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +37.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (0.0% per year) and Mexico (+113.7% per year).

Export Prices by Country

In 2021, the average non-propelled vehicle export price amounted to $X per unit, increasing by 21% against the previous year. Overall, the export price continues to indicate resilient growth. The most prominent rate of growth was recorded in 2016 when the average export price increased by 128% against the previous year. The export price peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Bolivia ($X per unit), while the average price for exports to Mexico ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+100.6%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Propelled Vehicle Imports

Imports into Ecuador

In 2021, the amount of vehicles not mechanically propelled imported into Ecuador amounted to X units, with an increase of 9.3% against the year before. Overall, imports, however, recorded a deep setback. The pace of growth was the most pronounced in 2018 when imports increased by 67%. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, non-propelled vehicle imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate a perceptible setback. The most prominent rate of growth was recorded in 2017 with an increase of 309%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of non-propelled vehicle to Ecuador, accounting for a 70% share of total imports. Moreover, non-propelled vehicle imports from China exceeded the figures recorded by the second-largest supplier, Colombia (X units), fourfold. The third position in this ranking was taken by the United States (X units), with a 5.3% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled -5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+8.1% per year) and the United States (-16.0% per year).

In value terms, China ($X), Colombia ($X) and the United States ($X) constituted the largest non-propelled vehicle suppliers to Ecuador, with a combined 79% share of total imports. Spain and Mexico lagged somewhat behind, together comprising a further 6.6%.

Spain, with a CAGR of +53.7%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average non-propelled vehicle import price amounted to $X per unit, with an increase of 33% against the previous year. Over the period under review, the import price continues to indicate a measured increase. The growth pace was the most rapid in 2017 when the average import price increased by 198% against the previous year. As a result, import price reached the peak level of $X per unit. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by the United States (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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