Ecuador: Frozen Crustaceans Market 2024

Frozen Crustaceans Market Size in Ecuador

The Ecuadorian frozen crustaceans market totaled $X in 2023, with an increase of X% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Frozen Crustaceans Production in Ecuador

In value terms, frozen crustaceans production expanded significantly to $X in 2023 estimated in export price. Overall, production, however, recorded a strong increase. The pace of growth appeared the most rapid in 2014 when the production volume increased by X%. Frozen crustaceans production peaked at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Frozen Crustaceans Exports

Exports from Ecuador

In 2023, after nine years of growth, there was significant decline in overseas shipments of frozen crustaceans, when their volume decreased by X% to X tons. Overall, exports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2022 with an increase of X%. As a result, the exports attained the peak of X tons, and then declined in the following year.

In value terms, frozen crustaceans exports shrank rapidly to $X in 2023. In general, exports, however, showed buoyant growth. The pace of growth appeared the most rapid in 2022 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then shrank remarkably in the following year.

Exports by Country

China (X tons) was the main destination for frozen crustaceans exports from Ecuador, with a X% share of total exports. Moreover, frozen crustaceans exports to China exceeded the volume sent to the second major destination, the United States (X tons), threefold. The third position in this ranking was taken by Spain (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Spain (X% per year).

In value terms, China ($X) remains the key foreign market for frozen crustaceans exports from Ecuador, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Spain, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Spain (X% per year).

Export Prices by Country

The average frozen crustaceans export price stood at $X per ton in 2023, reducing by X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by X%. The export price peaked at $X per ton in 2014; however, from 2015 to 2023, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2023, amid the top suppliers, the highest price was recorded for prices to the United States ($X per ton) and Vietnam ($X per ton), while the average price for exports to Spain ($X per ton) and China ($X per ton) were amongst the lowest.

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

Frozen Crustaceans Imports

Imports into Ecuador

In 2023, after three years of growth, there was significant decline in supplies from abroad of frozen crustaceans, when their volume decreased by X% to X tons. Overall, imports showed a deep downturn. The most prominent rate of growth was recorded in 2017 with an increase of X%. Imports peaked at X tons in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

In value terms, frozen crustaceans imports reduced rapidly to $X in 2023. Over the period under review, imports recorded a abrupt decrease. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, the United States (X tons) constituted the largest frozen crustaceans supplier to Ecuador, accounting for a X% share of total imports. Moreover, frozen crustaceans imports from the United States exceeded the figures recorded by the second-largest supplier, Argentina (X tons), fivefold.

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

In value terms, the United States ($X) constituted the largest supplier of frozen crustaceans to Ecuador, comprising X% of total imports. The second position in the ranking was held by Colombia ($X), with a X% share of total imports.

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

Import Prices by Country

The average frozen crustaceans import price stood at $X per ton in 2023, rising by X% against the previous year. In general, the import price, however, showed a slight curtailment. The growth pace was the most rapid in 2019 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2020 to 2023, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Colombia ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform