2023
Exports
$1.15BWorld Rnk 63 / 214
Flag Rnk 7 / 1002
2023
PRODUCT COMPLEXITY IN Refined Petroleum
-0.94Rnk 813 / 1025
2023
Imports
$4.22BWorld Rnk 54 / 226
Flag Rnk 1 / 1173
2023
ECONOMIC COMPLEXITY of Ecuador
-0.85Rnk 104 / 132

About

Exports In 2023, Ecuador exported $1.15B in Refined Petroleum, making it the 63rd largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 7th most exported product in Ecuador. The main destination of Refined Petroleum exports from Ecuador are: United States ($349M), Panama ($335M), Nicaragua ($139M), El Salvador ($105M), and Guatemala ($90.7M).

The fastest growing export markets for Refined Petroleum of Ecuador between 2022 and 2023 were Honduras ($58.2M), Nicaragua ($44.8M), and El Salvador ($21.9M).

Imports In 2023, Ecuador imported $4.22B in Refined Petroleum, becoming the 54th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 1st most imported product in Ecuador. Ecuador imports Refined Petroleum primarily from: United States ($3.21B), South Korea ($371M), Canada ($212M), Chinese Taipei ($116M), and Japan ($113M).

The fastest growing import markets in Refined Petroleum for Ecuador between 2022 and 2023 were United States ($136M), Chinese Taipei ($63.8M), and Japan ($35.9M).

COMPANIES In 2021, leading companies such as Dole Fresh Fruit (1.25k) were at the forefront of shipping Refined Petroleum from Ecuador to the United States.

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 Refined 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)$1.15B
IMPORTS (2023)$4.22B
NET TRADE (2023)-$3.07B

In 2023, Ecuador exported $1.15B in Refined Petroleum. The main destinations of Ecuador exports on Refined Petroleum were United States ($349M), Panama ($335M), Nicaragua ($139M), El Salvador ($105M), and Guatemala ($90.7M).

In 2023, Ecuador imported $4.22B in Refined Petroleum, mainly from United States ($3.21B), South Korea ($371M), Canada ($212M), Chinese Taipei ($116M), and Japan ($113M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Ecuador WERE (2022 - 2023):
Honduras$58.2M (109k%)
Nicaragua$44.8M (47.7%)
El Salvador$21.9M (26.3%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Ecuador WERE (2022 - 2023):
United States-$421M (-54.7%)
Panama-$330M (-49.6%)
Curaçao-$48.5M (-77.7%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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

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Trade Value of Refined Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $401M
TOP IMPORT POTENTIALChina+ $99.6M

Refined Petroleum’s highest export potential is United States. With an export gap of $401M.   Refined Petroleum’s highest import potential is China with an import gap of $99.6M.

See methodology.

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