Key Market Indicators
Ecuador's truck import market is projected to decline slightly over the next five years. By 2028, the market is expected to reach approximately $407 million, down from around $415 million in 2023, representing a compound annual growth rate (CAGR) of -0.2%. This continues a long-term trend, as Ecuadorian demand for trucks has decreased by an average of 2.7% annually since 1996. On the export front, Ecuador saw a significant jump in truck exports in 2018. The value of truck exports reached nearly $32 million, more than doubling from about $16 million in 2017, marking a 103% increase year over year. However, this surge in 2018 stands in contrast to the broader trend, as Ecuadorian truck supply has generally been on the decline, with an average annual decrease of 14.4% since 1998.
