Ecuador - Gold - Market Analysis, Forecast, Size, Trends and Insights
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View PricingGold Price in Ecuador - 2022
Contents:
- Gold Price in Ecuador (FOB) - 2022
- Gold Price in Ecuador (CIF) - 2022
- Gold Exports in Ecuador
- Gold Imports in Ecuador
Gold Price in Ecuador (FOB) - 2022
The average gold export price stood at $45.7M per ton in January 2022, remaining stable against the previous month. Over the period under review, the export price, however, showed a mild setback. The growth pace was the most rapid in May 2021 an increase of 24% m-o-m. Over the period under review, the average export prices hit record highs at $54.3M per ton in June 2021; however, from July 2021 to January 2022, the export prices failed to regain momentum.
Average prices varied somewhat for the major overseas markets. In January 2022, the countries with the highest prices were the United States ($56.6M per ton) and Italy ($48.9M per ton), while the average price for exports to Switzerland ($39.5M per ton) and India ($43.8M per ton) were amongst the lowest.
From January 2021 to January 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+0.4%), while the prices for the other major destinations experienced a decline.
Gold Price in Ecuador (CIF) - 2022
In 2022, the average gold import price amounted to $4,156,000 per ton, increasing by 29% against the previous year. Overall, the import price, however, continues to indicate a noticeable shrinkage. Over the period under review, average import prices hit record highs at $6,894,000 per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.
As there is only one major supplying country, the average price level is determined by prices for Italy.
From 2012 to 2022, the rate of growth in terms of prices for Italy amounted to +41.6% per year.
Gold Exports in Ecuador
In 2022, shipments abroad of gold decreased by -15.5% to 9.9 tons for the first time since 2018, thus ending a three-year rising trend. In general, total exports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +7.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +25.2% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 45% against the previous year. As a result, the exports reached the peak of 12 tons, and then shrank sharply in the following year.
In value terms, gold exports contracted rapidly to $476M in 2022. Over the period under review, exports, however, continue to indicate significant growth. The pace of growth was the most pronounced in 2020 with an increase of 95%.
Export of Gold in Ecuador (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Switzerland | 8.1 | 139 | 262 | 228 | 204.2% |
United States | 159 | 226 | 245 | 191 | 6.3% |
Italy | 18.4 | 6.4 | 19.9 | 14.6 | -7.4% |
India | 1.0 | 0.3 | 16.2 | 11.9 | 128.3% |
Others | 7.3 | 6.2 | 29.2 | 30.2 | 60.5% |
Total | 194 | 378 | 573 | 476 | 34.9% |
Top Export Markets for Gold from Ecuador in 2022:
- Switzerland (4.8 tons)
- United States (3.8 tons)
- Italy (0.3 tons)
- India (0.3 tons)
Gold Imports in Ecuador
In 2022, the amount of gold imported into Ecuador amounted to 4 kg, remaining stable against 2021 figures. Overall, imports recorded a abrupt downturn. The smallest decline of -20% was in 2021.
In value terms, gold imports surged to $17K in 2022. In general, imports continue to indicate a deep downturn.
Import of Gold in Ecuador (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Italy | 14.2 | 2.5 | 5.5 | 1.7 | -50.7% |
Spain | N/A | 16.5 | N/A | N/A | 0% |
United Kingdom | N/A | N/A | 1.6 | N/A | 0% |
Others | 13.6 | 1.3 | 5.9 | 14.9 | 3.1% |
Total | 27.7 | 20.3 | 12.9 | 16.6 | -15.7% |
Top Suppliers of Gold to Ecuador in 2022:
- Italy (4.0 kg)
This report provides an in-depth analysis of the gold market in Ecuador. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 24412030 - Gold, unwrought or in powder form for non-monetary use (including plated with platinum)
- Prodcom 24412035 -
- Prodcom 24412040 -
- Prodcom 24412050 - Gold, in semi-manufactured forms for non-monetary use (including plated with platinum) (excluding unwrought or in powder form)
- Prodcom 24412070 - Monetary gold (including gold plated with platinum)
Country coverage:
- Ecuador
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Ecuador
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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