Key Market Indicators
Ecuador's nickel import market is projected to reach approximately $1.6 million by 2028, up from around $1.5 million in 2023. This represents an average annual growth rate of 1.2%. However, this comes in the context of a long-term decline, with demand decreasing by 0.6% annually since 1996. On the export front, Ecuador saw its nickel exports drop dramatically in recent years. In 2018, exports totaled about $5,550, a steep decline from approximately $9,730 in 2017—a 43% decrease in just one year. Over the longer term, since 1996, Ecuador's nickel supply has been shrinking at an average rate of 16.7% per year.
