Waxes; Artificial, Prepared Price in Ecuador - 2022

Waxes; Artificial, Prepared Price in Ecuador (CIF) - 2022

In January 2022, the average waxes; artificial, prepared import price amounted to $5,042 per ton, declining by -42% against the previous month. Over the period under review, the import price, however, recorded notable growth. The pace of growth appeared the most rapid in April 2021 when the average import price increased by 133% against the previous month. As a result, import price reached the peak level of $11,615 per ton. From May 2021 to January 2022, the average import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was the United States ($21,871 per ton), while the price for Mexico ($2,401 per ton) was amongst the lowest.

From January 2021 to January 2022, the most notable rate of growth in terms of prices was attained by Spain (+99.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Waxes; Artificial, Prepared Price in Ecuador (FOB) - 2022

The average waxes; artificial, prepared export price stood at $5,306 per ton in 2022, surging by 8.6% against the previous year. In general, the export price, however, saw a abrupt slump. The growth pace was the most rapid in 2019 an increase of 167% against the previous year. Over the period under review, the average export prices reached the maximum at $9,852 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Panama.

From 2012 to 2022, the rate of growth in terms of prices for Peru amounted to +15.6% per year.

Waxes; Artificial, Prepared Imports in Ecuador

In 2022, after three years of growth, there was significant decline in purchases abroad of waxes; artificial, prepared, when their volume decreased by -12.6% to 214 tons. The total import volume increased at an average annual rate of +8.0% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 33%. As a result, imports attained the peak of 245 tons, and then contracted in the following year.

In value terms, waxes; artificial, prepared imports dropped rapidly to $1.1M in 2022. In general, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +8.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +26.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 44%. As a result, imports reached the peak of $1.4M, and then declined markedly in the following year.

Import of Waxes; Artificial, Prepared in Ecuador (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	438	502	579	510	5.2%
United States	277	329	560	494	21.3%
Brazil	25.8	19.3	40.7	35.9	11.6%
China	7.5	7.8	22.5	19.8	38.2%
Colombia	35.7	23.5	6.6	19.0	-19.0%
Spain	23.9	8.8	13.6	13.4	-17.5%
Japan	31.4	N/A	65.9	N/A	44.9%
Others	67.9	49.8	64.2	53.7	-7.5%
Total	908	940	1,353	1,146	8.1%

Top Suppliers of Waxes; Artificial, Prepared to Ecuador in 2022:

Germany (107.2 tons)
United States (74.8 tons)
Brazil (9.4 tons)
Spain (6.4 tons)
China (5.6 tons)
Colombia (4.2 tons)

Waxes; Artificial, Prepared Exports in Ecuador

After two years of decline, overseas shipments of waxes; artificial, prepared increased by 35% to 1.2 tons in 2022. Overall, exports, however, continue to indicate a deep slump.

In value terms, waxes; artificial, prepared exports surged to $6.2K in 2022. Over the period under review, exports, however, recorded a abrupt descent.