Ecuador: Non-Electric Bakery Oven Market 2024

Non-Electric Bakery Oven Market Size in Ecuador

The Ecuadorian non-electric bakery oven market surged to $X in 2022, with an increase of 18% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a strong increase. Non-electric bakery oven consumption peaked in 2022 and is likely to see steady growth in years to come.

Non-Electric Bakery Oven Exports

Exports from Ecuador

In 2022, overseas shipments of non-electric bakery ovens decreased by -22.2% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, recorded a noticeable expansion. The most prominent rate of growth was recorded in 2016 with an increase of 567% against the previous year. Over the period under review, the exports attained the maximum at X units in 2021, and then dropped markedly in the following year.

In value terms, non-electric bakery oven exports fell remarkably to $X in 2022. In general, exports showed a abrupt shrinkage. The pace of growth was the most pronounced in 2016 when exports increased by 882% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Colombia (X units) was the main destination for non-electric bakery oven exports from Ecuador, with a 67% share of total exports. Moreover, non-electric bakery oven exports to Colombia exceeded the volume sent to the second major destination, the Dominican Republic (X units), fourfold. The third position in this ranking was held by Peru (X units), with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Colombia stood at +4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (+58.7% per year) and Peru (-4.0% per year).

In value terms, Colombia ($X) remains the key foreign market for non-electric bakery ovens exports from Ecuador, comprising 71% of total exports. The second position in the ranking was held by the Dominican Republic ($X), with a 22% share of total exports. It was followed by Peru, with a 6.4% share.

From 2012 to 2022, the average annual growth rate of value to Colombia totaled -3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (+69.2% per year) and Peru (-26.0% per year).

Export Prices by Country

In 2022, the average non-electric bakery oven export price amounted to $X per unit, with an increase of 4% against the previous year. Over the period under review, the export price, however, faced a deep setback. The pace of growth was the most pronounced in 2017 when the average export price increased by 36% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the 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 the Dominican Republic ($X per unit), while the average price for exports to Panama ($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 the Dominican Republic (+17.3%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Electric Bakery Oven Imports

Imports into Ecuador

In 2022, the amount of non-electric bakery ovens imported into Ecuador skyrocketed to X units, picking up by 21% compared with 2021 figures. In general, imports recorded a remarkable increase. The pace of growth was the most pronounced in 2021 when imports increased by 408% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, non-electric bakery oven imports shrank to $X in 2022. Over the period under review, imports posted a resilient expansion. The pace of growth was the most pronounced in 2016 with an increase of 88%. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, Spain (X units) constituted the largest non-electric bakery oven supplier to Ecuador, accounting for a 84% share of total imports. Moreover, non-electric bakery oven imports from Spain exceeded the figures recorded by the second-largest supplier, Brazil (X units), more than tenfold. The third position in this ranking was taken by China (X units), with a 3.7% share.

From 2012 to 2022, the average annual growth rate of volume from Spain amounted to +45.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-4.0% per year) and China (+7.2% per year).

In value terms, Spain ($X) constituted the largest supplier of non-electric bakery ovens to Ecuador, comprising 34% of total imports. The second position in the ranking was held by China ($X), with a 13% share of total imports. It was followed by the United States, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Spain stood at +21.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.1% per year) and the United States (+2.8% per year).

Import Prices by Country

The average non-electric bakery oven import price stood at $X per unit in 2022, with a decrease of -25.7% against the previous year. Overall, the import price saw a deep downturn. The pace of growth was the most pronounced in 2020 when the average import price increased by 119% against the previous year. As a result, import price reached the peak level of $X per unit. From 2021 to 2022, the average import prices remained at a lower figure.

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 the United States ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+13.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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