Ecuador: Metal Gas Appliances Market 2023

Metal Gas Appliances Market Size in Ecuador

In 2022, after two years of growth, there was significant decline in the Ecuadorian metal gas appliances market, when its value decreased by -34.5% to $X. Over the period under review, consumption recorded a drastic downturn. Metal gas appliances consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Metal Gas Appliances Exports

Exports from Ecuador

In 2022, overseas shipments of iron or steel gas domestic appliances increased by 20% to X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, saw a slight contraction. The most prominent rate of growth was recorded in 2019 when exports increased by 2,674% against the previous year. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, metal gas appliances exports fell to $X in 2022. In general, exports, however, faced a abrupt decrease. The most prominent rate of growth was recorded in 2019 with an increase of 3,131% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Panama (X units) was the main destination for metal gas appliances exports from Ecuador, accounting for a 67% share of total exports. Moreover, metal gas appliances exports to Panama exceeded the volume sent to the second major destination, Nicaragua (X units), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Panama totaled -61.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (0.0% per year) and Honduras (-12.9% per year).

In value terms, Panama ($X) emerged as the key foreign market for iron or steel gas domestic appliances exports from Ecuador, comprising 98% of total exports. The second position in the ranking was taken by Honduras ($X), with a 1.3% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Panama totaled -58.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (-43.1% per year) and Nicaragua (-32.5% per year).

Export Prices by Country

The average metal gas appliances export price stood at $X per unit in 2022, declining by -28% against the previous year. Over the period under review, the export price continues to indicate a drastic downturn. The growth pace was the most rapid in 2014 when the average export price increased by 185%. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, 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 Panama ($X per unit), while the average price for exports to Nicaragua ($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 Panama (+7.7%), while the prices for the other major destinations experienced a decline.

Metal Gas Appliances Imports

Imports into Ecuador

In 2022, the amount of iron or steel gas domestic appliances imported into Ecuador contracted sharply to X units, waning by -32.2% against the previous year. In general, imports continue to indicate a abrupt setback. The pace of growth was the most pronounced in 2015 with an increase of 286%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, metal gas appliances imports fell rapidly to $X in 2022. Over the period under review, imports showed a abrupt decline. The most prominent rate of growth was recorded in 2015 when imports increased by 373%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) was the main metal gas appliances supplier to Ecuador, with a 91% share of total imports. It was followed by Spain (X units), with a 2.3% share of total imports. Mexico (X units) ranked third in terms of total imports with a 1.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-10.1% per year) and Mexico (+5.7% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel gas domestic appliances to Ecuador, comprising 68% of total imports. The second position in the ranking was held by Mexico ($X), with a 17% share of total imports. It was followed by Argentina, with a 4.8% share.

From 2012 to 2022, the average annual growth rate of value from China totaled -5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+12.7% per year) and Argentina (+3.7% per year).

Import Prices by Country

The average metal gas appliances import price stood at $X per unit in 2022, waning by -5.5% against the previous year. Overall, the import price showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2014 when the average import price increased by 42% against the previous year. The import price peaked at $X per unit in 2015; however, from 2016 to 2022, 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 Italy ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+36.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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