Ecuador: Market for Footwear with Uppers of Textile Materials 2023

Market Size for Footwear with Uppers of Textile Materials in Ecuador

The Ecuadorian market for footwear with uppers of textile materials dropped rapidly to $X in 2021, which is down by -20.4% against the previous year. Overall, consumption, however, saw prominent growth. As a result, consumption reached the peak level of $X, and then declined significantly in the following year.

Production of Footwear with Uppers of Textile Materials in Ecuador

In value terms, production of footwear with uppers of textile materials reduced to $X in 2021 estimated in export price. In general, production, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2013 when the production volume increased by 45% against the previous year. Over the period under review, production of reached the maximum level at $X in 2020, and then fell in the following year.

Exports of Footwear with Uppers of Textile Materials

Exports from Ecuador

In 2021, shipments abroad of footwear with uppers of textile materials was finally on the rise to reach X tons after two years of decline. In general, exports, however, recorded a pronounced descent. The pace of growth was the most pronounced in 2017 when exports increased by 56% against the previous year. Over the period under review, the exports of reached the peak figure at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of footwear with uppers of textile materials skyrocketed to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt decline. Over the period under review, the exports of attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Colombia (X tons) was the main destination for exports of footwear with uppers of textile materials from Ecuador, with a 94% share of total exports. Moreover, exports of footwear with uppers of textile materials to Colombia exceeded the volume sent to the second major destination, Peru (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Colombia stood at -4.2%.

In value terms, Colombia ($X) remains the key foreign market for footwear with uppers of textile materials exports from Ecuador, comprising 96% of total exports. The second position in the ranking was taken by Peru ($X), with a 2.9% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Colombia totaled -5.0%.

Export Prices by Country

In 2021, the average export price for footwear with uppers of textile materials amounted to $X per ton, rising by 2.9% against the previous year. Overall, the export price, however, showed a mild shrinkage. The pace of growth was the most pronounced in 2016 when the average export price increased by 23% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Colombia ($X per ton), while the average price for exports to Peru amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (-0.8%).

Imports of Footwear with Uppers of Textile Materials

Imports into Ecuador

In 2021, after two years of decline, there was significant growth in purchases abroad of footwear with uppers of textile materials, when their volume increased by 48% to X tons. The total import volume increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, imports of footwear with uppers of textile materials soared to $X in 2021. The total import value increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of footwear with uppers of textile materials to Ecuador, with a 57% share of total imports. Moreover, imports of footwear with uppers of textile materials from China exceeded the figures recorded by the second-largest supplier, Brazil (X tons), twofold. The third position in this ranking was held by Vietnam (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +22.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+22.1% per year) and Vietnam (+71.6% per year).

In value terms, China ($X) constituted the largest supplier of footwear with uppers of textile materials to Ecuador, comprising 54% of total imports. The second position in the ranking was held by Brazil ($X), with a 21% share of total imports. It was followed by Vietnam, with a 16% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +33.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+17.5% per year) and Vietnam (+70.5% per year).

Import Prices by Country

In 2021, the average import price for footwear with uppers of textile materials amounted to $X per ton, picking up by 2.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2019 when the average import price increased by 17% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Panama ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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