Ecuador Balance of Trade

Last Release

Feb 29, 2024

Actual

568,719

Units In

USD Thousand

316,259

Frequency

Monthly

Next Release

May 13, 2024

Time to Release

1 Months 0 Days 6 Hours

Highest	Lowest	Average	Date Range	Source
619,602 May 2008	-729,014 Dec 2014	-14,024.24 USD Thousand	1985-2024	Banco Central del Ecuador

Ecuador's economy is highly dependent on oil exports (58 percent of total exports). Other exports include: fish and shrimps and bananas. Main imports are: raw materials for industry (25 percent of total imports), capital goods for industry (19 percent), fuels and lubricants (17 percent) and consumption durables (13 percent). Ecuador´s main trading partner is the United States (45 percent of total exports and 27 percent of imports). Others include: Chile, China, Peru, Colombia and Panama.

Latest Updates

Ecuador's trade surplus expanded to USD 568.72 million in February 2024 from a surplus of USD 89.49 million in the corresponding month of 2023, marking the third consecutive monthly surplus, driven by climbing exports and declining imports. Exports increased by 5.85% year-on-year to USD 2,669.8 million, led by higher shipments of oil (20.2%), particularly crude oil (18.2%), while non-oil products also increased (1%). Meanwhile, imports decreased by 13.64% to USD 2,101.1 million, attributed to reduced purchases of fuels and lubricants (-21.24%), capital goods (-9.89%), intermediate goods (-13.4%), and consumer goods (-8.73%).