Ecuador: Market for Precious Metal Ores And Concentrates 2024

Market Size for Precious Metal Ores And Concentrates in Ecuador

The Ecuadorian market for precious metal ores and concentrates shrank dramatically to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption continues to indicate a abrupt downturn. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Production of Precious Metal Ores And Concentrates in Ecuador

In value terms, precious metal ore and concentrate production expanded rapidly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Exports of Precious Metal Ores And Concentrates

Exports from Ecuador

For the sixth consecutive year, Ecuador recorded growth in overseas shipments of precious metal ores and concentrates, which increased by X% to X tons in 2022. In general, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, precious metal ore and concentrate exports surged to $X in 2022. Overall, exports recorded significant growth. The growth pace was the most rapid in 2020 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

China (X tons), Canada (X tons) and Germany (X tons) were the main destinations of precious metal ore and concentrate exports from Ecuador, with a combined X% share of total exports. Finland, Taiwan (Chinese), Bulgaria, Mexico and Peru lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for precious metal ore and concentrate exported from Ecuador were China ($X), Finland ($X) and Canada ($X), together comprising X% of total exports. Taiwan (Chinese), Germany, Bulgaria, Mexico and Peru lagged somewhat behind, together accounting for a further X%.

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

Export Prices by Country

The average export price for precious metal ores and concentrates stood at $X per ton in 2022, dropping by X% against the previous year. Overall, the export price, however, enjoyed a moderate expansion. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then reduced sharply in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bulgaria (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Precious Metal Ores And Concentrates

Imports into Ecuador

In 2022, approx. X kg of precious metal ores and concentrates were imported into Ecuador; falling by X% compared with the year before. Overall, imports, however, showed a significant increase. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Imports peaked at X kg in 2021, and then reduced in the following year.

In value terms, precious metal ore and concentrate imports reached $X in 2022. Over the period under review, imports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, Canada (X kg) was the main precious metal ore and concentrate supplier to Ecuador, with a X% share of total imports. Moreover, precious metal ore and concentrate imports from Canada exceeded the figures recorded by the second-largest supplier, the United States (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Canada totaled X%.

In value terms, Canada ($X) constituted the largest supplier of precious metal ores and concentrates to Ecuador, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with an X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Canada stood at X%.

Import Prices by Country

In 2022, the average import price for precious metal ores and concentrates amounted to $X per ton, increasing by X% against the previous year. Overall, the import price saw a remarkable increase. The pace of growth appeared the most rapid in 2014 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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 ton), while the price for Canada amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%).

Source: IndexBox Platform

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