Ecuador: Spirits And Liqueurs Market 2024

Spirits And Liqueurs Market Size in Ecuador

The Ecuadorian spirits and liqueurs market rose sharply to $X in 2022, picking up by X% against the previous year. Overall, consumption continues to indicate resilient growth. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Spirits And Liqueurs Production in Ecuador

In value terms, spirits and liqueurs production rose slightly to $X in 2022 estimated in export price. Over the period under review, production enjoyed a strong expansion. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Spirits and liqueurs production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Spirits And Liqueurs Exports

Exports from Ecuador

In 2022, overseas shipments of spirits, liqueurs and other spirituous beverages increased by X% to X litres, rising for the third consecutive year after two years of decline. Overall, exports, however, showed a slight curtailment. The pace of growth was the most pronounced in 2020 with an increase of X%. The exports peaked at X litres in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, spirits and liqueurs exports surged to $X in 2022. In general, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X litres) was the main destination for spirits and liqueurs exports from Ecuador, with a X% share of total exports. Moreover, spirits and liqueurs exports to the United States exceeded the volume sent to the second major destination, the Netherlands (X litres), more than tenfold. The third position in this ranking was taken by Panama (X litres), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Panama (X% per year).

In value terms, the United States ($X) remains the key foreign market for spirits, liqueurs and other spirituous beverages exports from Ecuador, comprising X% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total exports. It was followed by Panama, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Panama (X% per year).

Export Prices by Country

The average spirits and liqueurs export price stood at $X per litre in 2022, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2014 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per litre in 2016; afterwards, it flattened through to 2022.

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

Spirits And Liqueurs Imports

Imports into Ecuador

In 2022, approx. X litres of spirits, liqueurs and other spirituous beverages were imported into Ecuador; with an increase of X% on the year before. In general, imports posted a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, spirits and liqueurs imports skyrocketed to $X in 2022. Overall, imports showed a prominent increase. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

The UK (X litres), Mexico (X litres) and Colombia (X litres) were the main suppliers of spirits and liqueurs imports to Ecuador, together accounting for X% of total imports. Panama, Peru, the Netherlands, Italy, Germany, France and the United States lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) constituted the largest supplier of spirits, liqueurs and other spirituous beverages to Ecuador, comprising X% of total imports. The second position in the ranking was taken by Mexico ($X), with a X% share of total imports. It was followed by Colombia, with an X% share.

From 2012 to 2022, the average annual growth rate of value from the UK totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (X% per year) and Colombia (X% per year).

Import Prices by Country

The average spirits and liqueurs import price stood at $X per litre in 2022, reducing by X% against the previous year. Over the period under review, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spirits and liqueurs import price decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per litre in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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