2022
Flag  
GDP
$2.14TCURRENT US$
Rnk 9 / 186
2012-2022
Flag
GDP GROWTH
17%CURRENT US$
Rnk 129 / 186
2022
Flag
 GDP
$115BCURRENT US$
Rnk 62 / 186
2012-2022
Flag
GDP GROWTH
30.9%CURRENT US$
Rnk 98 / 186
2022
Flag
GDP PC 
$54,966CURRENT US$
Rnk 14 / 186
2012-2022
Flag
GDP PC GROWTH
4.36%CURRENT US$
Rnk 130 / 186
2022
Flag
GDP PC
$6,391CURRENT US$
Rnk 101 / 186
2012-2022
Flag
GDP PC GROWTH
12.6%CURRENT US$
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About

Canada-Ecuador Trade: In 2022, Canada exported $568M to Ecuador. The main products that Canada exported to Ecuador were Wheat ($320M), Refined Petroleum ($127M), and Dried Legumes ($25.8M). Over the past 5 years the exports of Canada to Ecuador have increased at an annualized rate of 13.9%, from $297M in 2017 to $568M in 2022.

In 2020, Canada exported services to Ecuador worth $6.71M, with Construction services ($4.47M), Communications services ($1.49M), and Computer and information services ($746k) being the largest in terms of value.

Ecuador-Canada Trade: In 2022, Ecuador exported $449M to Canada. The main products that Ecuador exported to Canada were Precious Metal Ore ($125M), Crude Petroleum ($118M), and Cocoa Beans ($46.1M). Over the past 5 years the exports of Ecuador to Canada have increased at an annualized rate of 36.6%,  from $94.4M in 2017 to $449M in 2022.

In 2022, Ecuador did not export any services to Canada.

Comparison: In 2022,  Canada ranked 31 in the Economic Complexity Index (ECI 0.92), and 9 in total exports ($587B). That same year, Ecuador ranked 109 in the Economic Complexity Index (ECI -0.96), and 68 in total exports ($36B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Canada exported $568M to Ecuador. The main products exported from Canada to Ecuador were Wheat ($320M), Refined Petroleum ($127M), and Dried Legumes ($25.8M). During the last 5 years the exports of Canada to Ecuador have increased at an annualized rate of 13.9%, from $297M in 2017 to $568M in 2022.

In 2017, Ecuador exported $449M to Canada. The main products exported from Ecuador to Canada were Precious Metal Ore ($125M), Crude Petroleum ($118M), and Cocoa Beans ($46.1M). During the last 5 years the exports of Ecuador to Canada have increased at an annualized rate of 36.6%, from $94.4M in 2022 to $449M in 2017.

Exports from Canada (Flag) to Ecuador (Flag) (2022)

Exports from Ecuador (Flag) to Canada (Flag) (2022)

Market Competitiveness

Color
Canada
Top Destination
United States$438B
Ecuador
Top Destination
United States$9.86B

This map shows whether countries import more from Canada or Ecuador. Each country is colored based on the difference in imports they receive from Canada and Ecuador or the difference in the growth in imports.

In 2022, countries that imported more from Canada than Ecuador included United States ($438B), China ($25.4B), and Japan ($14.3B).

In 2022, countries that imported more from Ecuador than Canada included Panama ($4.97B), Russia ($994M), and Chile ($1.34B).

Difference in imports from Ecuador (Flag) and Canada (Flag) (2022)

Comparative Advantage Canada - Ecuador

Flow
Scale

This chart compares trade between Canada and Ecuador by product, considering products traded by both, Canada and Ecuador.

During 2022, Canada had a large net trade with Ecuador in the exports of Vegetable Products ($352M), Mineral Products ($130M), and Machines ($23M).

During 2017, Ecuador had a large net trade with Canada in the exports of Mineral Products ($244M), Foodstuffs ($74.2M), and Vegetable Products ($66M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Canada Ecuador+$41.5MRefined Petroleum
Top Product Potential Ecuador Canada+$107MCrude Petroleum

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Canada and Ecuador. This means that a dot/product with the flag of Canada indicates it has a comparative advantage over Ecuador. Similarly, a dot/product with the flag of Ecuador indicates it has a comparative advantage over Canada.

Product Space of Canada (Flag) and Ecuador (Flag) (2022)

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