2023
Exports
$13.1BWorld Rnk 23 / 150
Flag Rnk 1 / 1002
2023
PRODUCT COMPLEXITY IN Crude Petroleum
-2.37Rnk 1015 / 1025
2023
Imports
$2.78kWorld Rnk 132 / 159
Flag Rnk 1132 / 1173
2023
ECONOMIC COMPLEXITY of Ecuador
-0.85Rnk 104 / 132

About

Exports In 2023, Ecuador exported $13.1B in Crude Petroleum, making it the 23rd 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: Panama ($3.95B), United States ($3.44B), China ($2.33B), Japan ($994M), and Chile ($754M).

The fastest growing export markets for Crude Petroleum of Ecuador between 2022 and 2023 were China ($2.06B), Peru ($283M), and Cote d'Ivoire ($57.4M).

Imports In 2023, Ecuador imported $2.78k in Crude Petroleum, becoming the 132nd largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 1132nd most imported product in Ecuador. Ecuador imports Crude Petroleum primarily from: United States ($2.35k) and Spain ($433).

The fastest growing import markets in Crude Petroleum for Ecuador between 2022 and 2023 were United States ($2.35k).

Latest Trends

Dec 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Crude Petroleum. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$13.1B
IMPORTS (2023)$2.78k
NET TRADE (2023)$13.1B

In 2023, Ecuador exported $13.1B in Crude Petroleum. The main destinations of Ecuador exports on Crude Petroleum were Panama ($3.95B), United States ($3.44B), China ($2.33B), Japan ($994M), and Chile ($754M).

In 2023, Ecuador imported $2.78k in Crude Petroleum, mainly from United States ($2.35k) and Spain ($433).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR Ecuador WERE (2022 - 2023):
China$2.06B (755%)
Peru$283M (68.5%)
Cote d'Ivoire$57.4M (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY Ecuador WERE (2022 - 2023):
United States-$1.51B (-30.6%)
South Korea-$101M (-100%)
Japan-$78.9M (-7.36%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Ecuador's main exporting competitors in Crude Petroleum were:
In 2023, Ecuador's main importing competitors in Crude Petroleum were:

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Trade Value of Crude Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $983M
TOP IMPORT POTENTIALSpain+ $5.66k

Crude Petroleum’s highest export potential is China. With an export gap of $983M.   Crude Petroleum’s highest import potential is Spain with an import gap of $5.66k.

See methodology.

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