Ecuador: Truck Market 2022

Truck Market Size in Ecuador

The ecuadorian truck market was finally on the rise to reach $X in 2021, after two years of decline.Over the period under review, the total consumption indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. the trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period.As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Truck Production in Ecuador

In value terms, truck production expanded sharply to $X in 2021 estimated in export price.Overall, production, however, continues to indicate a abrupt slump.The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year.Truck production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Truck Exports

Exports from Ecuador

In 2021, overseas shipments of trucks decreased by -X% to X units, falling for the second year in a row after three years of growth.In general, exports showed a dramatic descent.The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year.Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, truck exports declined dramatically to $X in 2021.Over the period under review, exports faced a sharp slump.The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year.Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Colombia (X units) was the main destination for truck exports from Ecuador, accounting for a X% share of total exports. Moreover, truck exports to Colombia exceeded the volume sent to the second major destination, Costa Rica (X units), more than tenfold. The united states (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2021, the average annual growth rate of volume to Colombia totaled -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+X% per year) and the United States (-X% per year).

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

From 2012 to 2021, the average annual growth rate of value to Colombia stood at -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+X% per year) and the United States (+X% per year).

Export Prices by Country

The average truck export price stood at $X per unit in 2021, growing by X% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Brazil ($X per unit), while the average price for exports to Peru ($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 (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Truck Imports

Imports into Ecuador

In 2021, purchases abroad of trucks increased by X% to X units for the first time since 2018, thus ending a two-year declining trend.Overall, imports showed a slight expansion.Imports peaked at X units in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, truck imports skyrocketed to $X in 2021.In general, imports, however, continue to indicate a relatively flat trend pattern.Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Thailand (X units) and Colombia (X units) were the main suppliers of truck imports to Ecuador, with a combined X% share of total imports.

From 2012 to 2021, the biggest increases were in China (with a CAGR of +X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest truck suppliers to Ecuador were China ($X), Thailand ($X) and Colombia ($X), with a combined X% share of total imports.

In terms of the main suppliers, China, with a CAGR of +X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average truck import price stood at $X per unit in 2021, shrinking by -X% against the previous year. Overall, the import price continues to indicate a noticeable descent. The pace of growth appeared the most rapid in 2019 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Colombia ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

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

Source: IndexBox Market Intelligence Platform

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