Ecuador: Radio Receiver Market 2023

Radio Receiver Market Size in Ecuador

In 2021, after two years of decline, there was growth in the Ecuadorian radio receiver market, when its value increased by 3.6% to $X. Over the period under review, consumption, however, recorded a deep setback. Radio receiver consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Radio Receiver Exports

Exports from Ecuador

Radio receiver exports from Ecuador reduced remarkably to X units in 2021, with a decrease of -66.9% against the previous year's figure. In general, exports showed a abrupt shrinkage. The growth pace was the most rapid in 2020 with an increase of 1,344% against the previous year. As a result, the exports reached the peak of X units, and then reduced notably in the following year.

In value terms, radio receiver exports contracted dramatically to $X in 2021. Over the period under review, exports saw a precipitous decline. The pace of growth appeared the most rapid in 2014 when exports increased by 104%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Chile (X units) was the main destination for radio receiver exports from Ecuador, accounting for a 93% share of total exports. It was followed by the United States (X units), with a 2.5% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Chile totaled +132.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+83.1% per year) and Colombia (-42.0% per year).

In value terms, Chile ($X), Colombia ($X) and the United States ($X) constituted the largest markets for radio receiver exported from Ecuador worldwide, together comprising 67% of total exports.

Among the main countries of destination, Chile, with a CAGR of +106.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average radio receiver export price stood at $X per unit in 2021, picking up by 113% against the previous year. Overall, the export price, however, showed a dramatic descent. Over the period under review, the average export prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Colombia ($X per unit), while the average price for exports to Chile ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+0.5%), while the prices for the other major destinations experienced a decline.

Radio Receiver Imports

Imports into Ecuador

Radio receiver imports into Ecuador skyrocketed to X units in 2021, growing by 16% on the previous year's figure. Overall, imports, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2017 when imports increased by 41%. Imports peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, radio receiver imports fell notably to $X in 2021. Over the period under review, imports, however, faced a deep contraction. The pace of growth appeared the most rapid in 2017 with an increase of 75%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) was the main supplier of radio receiver to Ecuador, with a 97% share of total imports. It was followed by Panama (X units), with a 0.9% share of total imports. The third position in this ranking was taken by the United States (X units), with a 0.2% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at -3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (-28.2% per year) and the United States (-33.4% per year).

In value terms, China ($X) constituted the largest supplier of radio receivers to Ecuador, comprising 74% of total imports. The second position in the ranking was held by Malaysia ($X), with a 6.3% share of total imports. It was followed by Panama, with a 3.4% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to -13.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-15.0% per year) and Panama (-29.6% per year).

Import Prices by Country

In 2021, the average radio receiver import price amounted to $X per unit, falling by -39.2% against the previous year. Over the period under review, the import price recorded a abrupt downturn. The growth pace was the most rapid in 2013 when the average import price increased by 60%. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the average 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 Malaysia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+18.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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