Ecuador Balance of Trade
Mar 31, 2023
Jun 12, 2023
Time to Release
28 Days 6 Hours
|-16,847.69 USD Thousand||1985-2023||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.
Ecuador trade surplus shrank to USD 24.2 million in March 2023 from USD 78.6 million in the corresponding month of 2022. Exports plunged by 12.1% year-on-year to USD 2,601.7 million, as a sharp drop in shipments of oil (-50.8%), of which crude petroleum (-50.3%), more than offset growth in shipments of non-oil (15.6%). Meanwhile, imports fell at a lower 9% to USD 2,577.5 million, with higher acquisitions of consumer goods (29.3%) being dampened by a slump in intermediate goods (-24.7%) and capital goods (-7.2%).
Ecuador Balance of Trade History
Last 12 readings