HS Icon Crude Petroleum in  Flag Ecuador

2019
Exports | Imports
: $7.85B | $259M, World Rnk 25 / 135
Flag Rnk 1 / 942 | World Rnk 64 / 156
Flag Rnk 11 / 1165

2018 - 2019
FASTEST GROWING MARKET | FASTEST GROWING ORIGIN
: $968M | $42.7M, Panama |  Colombia

2019
ECONOMIC COMPLEXITY of Ecuador
: -0.7, Rnk 109 / 147

2019
PRODUCT COMPLEXITY  IN Crude Petroleum
: -3.02, Rnk 1029 / 1029

Exports In 2019, Ecuador exported $7.85B in Crude Petroleum, making it the 25th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 1st most exported product in Ecuador. The main destination of Crude Petroleum exports from Ecuador are: United States ($3.84B), Panama ($1.49B), Chile ($1.23B), Peru ($639M), and China ($265M).

The fastest growing export markets for Crude Petroleum of Ecuador between 2018 and 2019 were Panama ($968M), Jamaica ($58.7M), and South Korea ($56.1M).

Imports In 2019, Ecuador imported $259M in Crude Petroleum, becoming the 64th largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 11th most imported product in Ecuador. Ecuador imports Crude Petroleum primarily from: Colombia ($259M), Spain ($8.03k), United States ($5.14k), and Netherlands ($188).

The fastest growing import markets in Crude Petroleum for Ecuador between 2018 and 2019 were Colombia ($42.7M), Spain ($7.73k), and United States ($1.18k).

Tariffs In 2018, the average tariff for Ecuador in Crude Petroleum was 9.31%. The countries with the highest import tariffs for Crude Petroleum were Angola (Most Favoured Nation duty rate treatement, 10%), Burundi (Most Favoured Nation duty rate treatement, 10%), Benin (Most Favoured Nation duty rate treatement, 10%), Burkina Faso (Most Favoured Nation duty rate treatement, 10%), and Botswana (Most Favoured Nation duty rate treatement, 10%).

Historical Data

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EXPORTS (2019): $7.85B

IMPORTS (2019): $259M

NET TRADE (2019): $7.6B

In 2019, Ecuador exported $7.85B in Crude Petroleum. The main destinations of Ecuador exports on Crude Petroleum were United States ($3.84B), Panama ($1.49B), Chile ($1.23B), Peru ($639M), and China ($265M).

In 2019, Ecuador imported $259M in Crude Petroleum, mainly from Colombia ($259M), Spain ($8.03k), United States ($5.14k), and Netherlands ($188).

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IN 2019, Ecuador HAD A POSITIVE NET TRADE IN Crude Petroleum WITH:

IN 2019, Ecuador HAD A NEGATIVE NET TRADE IN Crude Petroleum WITH:: Colombia , -$259M ($2.99k - $259M)

Flow

THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR Ecuador WERE (2018 - 2019):

THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY Ecuador WERE (2018 - 2019):

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Market Concentration

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In 2019, Ecuador's main exporting competitors in Crude Petroleum were:

In 2019, Ecuador's main importing competitors in Crude Petroleum were:

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Tariffs by Country

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In 2018, the average tariff for Ecuador in Crude Petroleum was 9.31%.

The countries with the highest tariffs for Crude Petroleum in Ecuador were Angola (Most Favoured Nation duty rate treatement, 10%), Burundi (Most Favoured Nation duty rate treatement, 10%), Benin (Most Favoured Nation duty rate treatement, 10%), Burkina Faso (Most Favoured Nation duty rate treatement, 10%), and Botswana (Most Favoured Nation duty rate treatement, 10%).