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2023
Exports $40.2MWorld Rnk 84 / 214
Flag Rnk 39 / 1002
2023
Destination $1.29M Chile
2022 - 2023
FASTEST GROWING MARKET $1.29MHonduras
2023
PRODUCT COMPLEXITY IN Packaged Medicaments0.63Rnk 313 / 1025
2023
Imports $861MWorld Rnk 59 / 226
Flag Rnk 4 / 1173
2023
Origin $27.3M Colombia
2022 - 2023
FASTEST GROWING ORIGIN $27.3MMexico
2023
ECONOMIC COMPLEXITY of Ecuador-0.85Rnk 104 / 132

About

Exports In 2023, Ecuador exported $40.2M in Packaged Medicaments, making it the 84th largest exporter of Packaged Medicaments in the world. At the same year, Packaged Medicaments was the 39th most exported product in Ecuador. The main destination of Packaged Medicaments exports from Ecuador are: Chile ($7.84M), Colombia ($6.01M), Panama ($4.88M), Peru ($3.94M), and Bolivia ($2.76M).

The fastest growing export markets for Packaged Medicaments of Ecuador between 2022 and 2023 were Honduras ($1.29M), Chile ($976k), and El Salvador ($830k).

Imports In 2023, Ecuador imported $861M in Packaged Medicaments, becoming the 59th largest importer of Packaged Medicaments in the world. At the same year, Packaged Medicaments was the 4th most imported product in Ecuador. Ecuador imports Packaged Medicaments primarily from: Colombia ($142M), Mexico ($90M), Argentina ($66.9M), India ($65.5M), and Germany ($65.3M).

The fastest growing import markets in Packaged Medicaments for Ecuador between 2022 and 2023 were Mexico ($27.3M), Argentina ($24M), and Switzerland ($12M).

Latest Trends

December 2021

About

Overview In December 2021 Ecuador's Packaged Medicaments exports accounted up to $1.56M and imports accounted up to $66.2M, resulting in a negative trade balance of $64.7M. Between December 2020 and December 2021 the exports of Ecuador's   Packaged Medicaments have increased by $324k (26.2%) from $1.24M to $1.56M, while imports increased by $10.5M (18.8%) from $55.7M to $66.2M.

Destinations In December 2021, Packaged Medicaments were exported mostly to Chile ($490k), United States ($223k), Bolivia ($164k), Trinidad and Tobago ($143k), and Panama ($136k), and were imported mostly from Colombia ($9.09M), Spain ($7.75M), Argentina ($6.62M), Mexico ($5.33M), and India ($4.83M).

Growth In December 2021, the increase in Packaged Medicaments's year-by-year exports was explained primarily by an increase in exports to Peru ($398k or 249%), Panama ($194k or 40.8%), and Colombia ($49.1k or 30.8%). In December 2021, the increase in Packaged Medicaments's year-by-year imports was explained primarily by an increase in imports from Uruguay ($2.37M or 129%), Mexico ($2.32M or 66.1%), and Costa Rica ($1.56M or 370%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2020 - December 2021)$324k(26.2%)
IMPORT GROWTH (December 2020 - December 2021)$10.5M(18.8%)
MAIN DESTINATION (December 2021)Chile$490k

This section shows Packaged Medicaments's exports and imports data at subnational level for Ecuador. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Packaged Medicaments over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$40.2M
IMPORTS (2023)$861M
NET TRADE (2023)-$821M

In 2023, Ecuador exported $40.2M in Packaged Medicaments. The main destinations of Ecuador exports on Packaged Medicaments were Chile ($7.84M), Colombia ($6.01M), Panama ($4.88M), Peru ($3.94M), and Bolivia ($2.76M).

In 2023, Ecuador imported $861M in Packaged Medicaments, mainly from Colombia ($142M), Mexico ($90M), Argentina ($66.9M), India ($65.5M), and Germany ($65.3M).

Explore Visualizations

Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Packaged Medicaments EXPORT MARKETS FOR Ecuador WERE (2022 - 2023):
Honduras$1.29M (1.33k%)
Chile$976k (14.2%)
El Salvador$830k (48.6%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Packaged Medicaments BY Ecuador WERE (2022 - 2023):
Costa Rica-$2.34M (-65.6%)
Guatemala-$2.33M (-68%)
Panama-$2.07M (-29.8%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Ecuador's main exporting competitors in Packaged Medicaments were:
Germany $66.4B
United States $41B
Switzerland $39.7B
In 2023, Ecuador's main importing competitors in Packaged Medicaments were:
United States $82.7B
Switzerland $40B
Germany $30.8B

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Trade Value of Packaged Medicaments by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALColombia+ $5.6M
TOP IMPORT POTENTIALGermany+ $29.7M

Packaged Medicaments’s highest export potential is Colombia. With an export gap of $5.6M.   Packaged Medicaments’s highest import potential is Germany with an import gap of $29.7M.

See methodology.

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