Ecuador: Wood Tool Market 2024

Wood Tool Market Size in Ecuador

The Ecuadorian wood tool market was estimated at $X in 2023, growing by X% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. Wood tool consumption peaked at $X in 2015; however, from 2016 to 2023, consumption failed to regain momentum.

Wood Tool Production in Ecuador

In value terms, wood tool production amounted to $X in 2023 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2015; however, from 2016 to 2023, production remained at a lower figure.

Wood Tool Exports

Exports from Ecuador

In 2023, shipments abroad of tools of wood increased by X% to X kg for the first time since 2020, thus ending a two-year declining trend. Overall, exports, however, showed a precipitous descent. The pace of growth appeared the most rapid in 2019 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, wood tool exports surged to $X in 2023. Over the period under review, exports, however, faced a dramatic curtailment. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

Colombia (X kg) was the main destination for wood tool exports from Ecuador, with a X% share of total exports. Moreover, wood tool exports to Colombia exceeded the volume sent to the second major destination, the United States (X kg), threefold. The third position in this ranking was taken by Panama (X kg), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Colombia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Panama (X% per year).

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

From 2012 to 2023, the average annual rate of growth in terms of value to Colombia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Panama (X% per year).

Export Prices by Country

The average wood tool export price stood at $X per ton in 2023, shrinking by X% against the previous year. In general, the export price saw a noticeable setback. The most prominent rate of growth was recorded in 2022 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Peru ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Spain (X%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Tool Imports

Imports into Ecuador

In 2023, supplies from abroad of tools of wood was finally on the rise to reach X kg for the first time since 2019, thus ending a three-year declining trend. Over the period under review, imports, however, showed a significant decrease. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, imports reached the peak of X tons. From 2014 to 2023, the growth of imports remained at a lower figure.

In value terms, wood tool imports soared to $X in 2023. Overall, imports, however, saw a dramatic setback. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, China (X kg) constituted the largest wood tool supplier to Ecuador, accounting for a X% share of total imports. Moreover, wood tool imports from China exceeded the figures recorded by the second-largest supplier, Italy (X kg), fourfold. The third position in this ranking was taken by Panama (X kg), with a X% share.

From 2012 to 2023, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Panama (X% per year).

In value terms, Brazil ($X) constituted the largest supplier of tools of wood to Ecuador, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from Brazil stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and China (X% per year).

Import Prices by Country

The average wood tool import price stood at $X per ton in 2023, growing by X% against the previous year. In general, the import price, however, showed a perceptible descent. The growth pace was the most rapid in 2017 an increase of X% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform