Ecuador: Wooden Kitchen Furniture Market 2024

Wooden Kitchen Furniture Market Size in Ecuador

The Ecuadorian wooden kitchen furniture market rose to $X in 2022, surging by 3.6% against the previous year. In general, consumption recorded a buoyant expansion. Wooden kitchen furniture consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Wooden Kitchen Furniture Production in Ecuador

In value terms, wooden kitchen furniture production amounted to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 30% against the previous year. Over the period under review, production attained the maximum level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Wooden Kitchen Furniture Exports

Exports from Ecuador

In 2022, exports of wooden furniture for kitchens from Ecuador reduced to X units, waning by -1.8% on the previous year's figure. In general, exports faced a dramatic decline. The pace of growth was the most pronounced in 2013 when exports increased by 362% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, wooden kitchen furniture exports contracted to $X in 2022. Overall, exports showed a dramatic shrinkage. The pace of growth was the most pronounced in 2013 when exports increased by 380% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for wooden kitchen furniture exports from Ecuador, with a 70% share of total exports. Moreover, wooden kitchen furniture exports to the United States exceeded the volume sent to the second major destination, El Salvador (X units), fourfold. The third position in this ranking was taken by Panama (X units), with a 5.1% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled -7.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+22.0% per year) and Panama (-39.1% per year).

In value terms, the United States ($X), El Salvador ($X) and Panama ($X) were the largest markets for wooden kitchen furniture exported from Ecuador worldwide, with a combined 82% share of total exports.

In terms of the main countries of destination, El Salvador, with a CAGR of +25.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average wooden kitchen furniture export price amounted to $X per unit, with an increase of 1.5% against the previous year. Over the period under review, the export price, however, recorded a slight curtailment. The most prominent rate of growth was recorded in 2015 when the average export price increased by 16%. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the average 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 Peru ($X per unit), while the average price for exports to the United States ($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 Peru (+11.1%), while the prices for the other major destinations experienced mixed trend patterns.

Wooden Kitchen Furniture Imports

Imports into Ecuador

In 2022, overseas purchases of wooden furniture for kitchens increased by 3% to X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports posted a temperate increase. The most prominent rate of growth was recorded in 2018 with an increase of 400%. Imports peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, wooden kitchen furniture imports dropped to $X in 2022. In general, imports, however, recorded a pronounced setback. The most prominent rate of growth was recorded in 2018 when imports increased by 321%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Brazil (X units) constituted the largest wooden kitchen furniture supplier to Ecuador, accounting for a 66% share of total imports. Moreover, wooden kitchen furniture imports from Brazil exceeded the figures recorded by the second-largest supplier, Colombia (X units), eightfold. China (X units) ranked third in terms of total imports with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil stood at +12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+14.4% per year) and China (-9.7% per year).

In value terms, Brazil ($X) constituted the largest supplier of wooden furniture for kitchens to Ecuador, comprising 48% of total imports. The second position in the ranking was held by China ($X), with a 13% share of total imports. It was followed by Colombia, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Brazil amounted to -1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-7.9% per year) and Colombia (+11.1% per year).

Import Prices by Country

The average wooden kitchen furniture import price stood at $X per unit in 2022, shrinking by -8.3% against the previous year. Overall, the import price showed a abrupt slump. The pace of growth appeared the most rapid in 2014 when the average import price increased by 35% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2015; however, from 2016 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 Germany ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+18.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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