Ecuador: Electronic Chip Market 2024

Electronic Chip Market Size in Ecuador

In 2023, the Ecuadorian electronic chip market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. In general, consumption enjoyed buoyant growth. As a result, consumption reached the peak level of $X. From 2019 to 2023, the growth of the market remained at a lower figure.

Electronic Chip Production in Ecuador

In value terms, electronic chip production expanded to $X in 2023 estimated in export price. Over the period under review, the total production indicated a buoyant increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, production hit record highs at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Electronic Chip Exports

Exports from Ecuador

In 2023, after three years of growth, there was significant decline in shipments abroad of electronic chips, when their volume decreased by X% to X units. In general, exports, however, enjoyed a buoyant increase. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, the exports reached the maximum at X units in 2015; however, from 2016 to 2023, the exports stood at a somewhat lower figure.

In value terms, electronic chip exports amounted to $X in 2023. Over the period under review, exports, however, posted a measured expansion. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X units), Canada (X units) and the United States (X units) were the main destinations of electronic chip exports from Ecuador, with a combined X% share of total exports. South Korea, Belgium, Colombia, the Netherlands, Mexico, Costa Rica, Panama and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for South Korea (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for electronic chip exported from Ecuador were Vietnam ($X), Canada ($X) and South Korea ($X), together accounting for X% of total exports.

South Korea, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average electronic chip export price amounted to $X per unit, rising by X% against the previous year. In general, the export price, however, recorded a noticeable setback. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2020 to 2023, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electronic Chip Imports

Imports into Ecuador

In 2023, after four years of decline, there was significant growth in overseas purchases of electronic chips, when their volume increased by X% to X units. In general, imports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, imports reached the peak of X units. From 2019 to 2023, the growth of imports failed to regain momentum.

In value terms, electronic chip imports reduced to $X in 2023. Over the period under review, imports saw strong growth. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2023, the growth of imports remained at a lower figure.

Imports by Country

In 2023, China (X units) constituted the largest electronic chip supplier to Ecuador, with a X% share of total imports. Moreover, electronic chip imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. Indonesia (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Indonesia (X% per year).

In value terms, Indonesia ($X), the United States ($X) and China ($X) appeared to be the largest electronic chip suppliers to Ecuador, together comprising X% of total imports.

Indonesia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average electronic chip import price amounted to $X per unit, falling by X% against the previous year. In general, the import price recorded a perceptible curtailment. The pace of growth was the most pronounced in 2022 an increase of X%. The import price peaked at $X per unit in 2014; however, from 2015 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Costa Rica ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Costa Rica (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform