Price for Tractors; (Other than Tractors of Heading No 8709) in Ecuador - 2022

Contents:

1. Price for Tractors; (Other than Tractors of Heading No 8709) in Ecuador (CIF) - 2022
2. Price for Tractors; (Other than Tractors of Heading No 8709) in Ecuador (FOB) - 2022
3. Imports of Tractors; (Other than Tractors of Heading No 8709) in Ecuador
4. Exports of Tractors; (Other than Tractors of Heading No 8709) in Ecuador

Price for Tractors; (Other than Tractors of Heading No 8709) in Ecuador (CIF) - 2022

In 2022, the average import price for tractors; (other than tractors of heading no 8709)s amounted to $28,121 per unit, picking up by 17% against the previous year. Over the period under review, the import price, however, saw a perceptible shrinkage. The growth pace was the most rapid in 2020 an increase of 25% against the previous year. Over the period under review, average import prices attained the peak figure at $48,481 per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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 ($58,549 per unit), while the price for South Korea ($11,478 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Tractors; (Other than Tractors of Heading No 8709) in Ecuador (FOB) - 2022

In 2022, the average export price for tractors; (other than tractors of heading no 8709)s amounted to $41,964 per unit, surging by 6.4% against the previous year. Overall, the export price, however, continues to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2018 an increase of 229%. Over the period under review, the average export prices reached the peak figure at $61,239 per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 the UK ($54,882 per unit), while the average price for exports to Burkina Faso stood at $3,206 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sudan (-17.9%), while the prices for the other major destinations experienced a decline.

Imports of Tractors; (Other than Tractors of Heading No 8709) in Ecuador

In 2022, imports of tractors; (other than tractors of heading no 8709)s into Ecuador soared to 5K units, growing by 18% against the previous year. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 55%. Over the period under review, imports of reached the peak figure at 5K units in 2019; afterwards, it flattened through to 2022.

In value terms, imports of tractors; (other than tractors of heading no 8709)s surged to $139M in 2022. Over the period under review, imports saw a buoyant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 50% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Top Suppliers of Tractors; (Other than Tractors of Heading No 8709) to Ecuador in 2022:

1. China (2972.0 units)
2. Mexico (606.0 units)
3. Brazil (335.0 units)
4. Japan (280.0 units)
5. Germany (222.0 units)
6. India (202.0 units)
7. United States (73.0 units)

Exports of Tractors; (Other than Tractors of Heading No 8709) in Ecuador

In 2022, approx. 4 units of tractors; (other than tractors of heading no 8709)s were exported from Ecuador; reducing by -50% against 2021. Overall, exports continue to indicate a precipitous slump. The pace of growth appeared the most rapid in 2021 with an increase of 167% against the previous year. The exports peaked at 18 units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, exports of tractors; (other than tractors of heading no 8709)s dropped significantly to $168K in 2022. Over the period under review, exports recorded a dramatic contraction. The pace of growth was the most pronounced in 2021 with an increase of 541% against the previous year. The exports peaked at $582K in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Top Export Markets for Tractors; (Other than Tractors of Heading No 8709) from Ecuador in 2022:

1. United Kingdom (3.0 units)
2. Burkina Faso (1.0 units)

Source: IndexBox Market Intelligence Platform