Ecuador2021 Economic Complexity Trade : -0.89, Rank 104 of 131
2021 Economic Complexity Technology : -0.87, Rank 71 of 96
2021 Economic Complexity Research : -0.37, Rank 86 of 140
2021 Product Exports | Imports: $27.3B | $24.9B, 68 of 226 | 74 of 226
2021 Per Capita Product Exports | Imports: $1.52k | $1.39k, 107 of 219 | 139 of 219
Overview In 2021, Ecuador was the number 60 economy in the world in terms of GDP (current US$), the number 68 in total exports, the number 74 in total imports, the number 92 economy in terms of GDP per capita (current US$) and the number 104 most complex economy according to the Economic Complexity Index (ECI) .
Exports The top exports of Ecuador are Crude Petroleum ($7.44B), Crustaceans ($5.33B), Bananas ($3.67B), Refined Petroleum ($1.37B), and Processed Fish ($1.27B), exporting mostly to United States ($6.5B), China ($4.03B), Panama ($3.95B), Chile ($1.13B), and Russia ($1.01B).
In 2021, Ecuador was the world's biggest exporter of Crustaceans ($5.33B) and Bananas ($3.67B)
Imports The top imports of Ecuador are Refined Petroleum ($2.74B), Coal Tar Oil ($1.14B), Cars ($878M), Packaged Medicaments ($619M), and Petroleum Gas ($604M), importing mostly from China ($5.94B), United States ($5.16B), Colombia ($1.79B), South Korea ($1.09B), and Peru ($933M).
Location Ecuador borders Colombia and Peru by land and Costa Rica by sea.
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Overview In N/A Ecuador exported $N/A and imported $N/A, resulting in a N/A trade balance of $N/A. Between N/A and N/A the exports of Ecuador have N/A by $N/A (N/A) from $N/A to $N/A, while imports N/A by $N/A (N/A) from $N/A to $N/A.
Trade In N/A, the top exports of Ecuador were . In N/A the top imports of Ecuador were Cars ($81.7M), Soybean Meal ($74M), Packaged Medicaments ($66.2M), Telephones ($58.4M), and Vaccines, blood, antisera, toxins and cultures ($49.2M).
Origins In N/A the exports of Ecuador were mainly from N/A, while imports destinations were mainly Guayaquil-Marítimo ($1.21B), Quito ($238M), Manta ($119M), Tulcán ($112M), and Guayaquil-Aéreo ($69.1M).
Destinations In N/A, Ecuador exported mostly to N/A, and imported mostly from China ($545M), United States ($205M), Colombia ($159M), Brazil ($105M), and Peru ($74.7M).
Growth In N/A, the N/A in Ecuador's year-by-year exports was explained primarily by an decrease in exports to , and product exports N/A in . In N/A, the N/A in Ecuador's year-by-year imports was explained primarily by an decrease in imports from , and product imports N/A in .
This section shows exports and imports data at subnational level for Ecuador. Click any date in the line plot, any subnational region in the geomap, or any product, destination or origin country to explore the exports or imports behavior of Ecuador over time.
For full datasets download visit Bulk Download page.
Top Export (2021): Crude Petroleum, $7.44B
Top Destination (2021): United States, $6.5B
In 2021, Ecuador exported a total of $27.3B, making it the number 68 exporter in the world. During the last five reported years the exports of Ecuador have changed by $9.78B from $17.5B in 2016 to $27.3B in 2021.
The most recent exports are led by Crude Petroleum ($7.44B), Crustaceans ($5.33B), Bananas ($3.67B), Refined Petroleum ($1.37B), and Processed Fish ($1.27B). The most common destination for the exports of Ecuador are United States ($6.5B), China ($4.03B), Panama ($3.95B), Chile ($1.13B), and Russia ($1.01B).
Fastest Growing Export Markets (2020 - 2021)
Fastest Growing Import Markets (2020 - 2021)
Ecuador Exports Services (2020): $1.66B
Ecuador Imports Services (2020): $2.52B
In 2020, Ecuador exported $1.66B worth of services. The top services exported by Ecuador in 2020 were Personal travel ($589M), Sea transport ($589M), Other government services ($117M), Business travel ($113M), and Financial services ($74.8M).
The top services imported by Ecuador in 2020 were Sea transport ($764M), Personal travel ($367M), Reinsurance ($357M), Air transport ($305M), and Financial services ($155M).
Ecuador has a high level of specialization in Bananas (208), Crustaceans (124), Cut Flowers (68.8), Cocoa Beans (67.4), and Processed Fish (49.6). Specialization is measured using RCA, an index that takes the ratio between Ecuador observed and expected exports in each product.
The highest complexity exports of Ecuador according to the product complexity index (PCI) are Safes; armoured or reinforced, strong-boxes, doors and safe deposit lockers for strong-rooms, cash or deed boxes and the like, of base metal (0.94), Colouring matter of vegetable or animal origin (including dyeing extracts, not animal black); whether or not chemically defined; preparations based on colouring matter of vegetable or animal origin (0.42), Buttons, press-fasteners, snap-fasteners and press-studs, button moulds and other parts of these articles; button blanks (0.31), Machines for cleaning, sorting, grading seed, grain, dried leguminous vegetables; machinery used in the milling industry for the working of cereals or dried leguminous vegetables, not farm type machinery (0.21), and Stoves, ranges, grates, cookers (those with subsidiary boilers for central heating), barbecues, braziers, gas-rings, plate warmers and similar non-electric domestic appliances and parts, of iron or steel (0.14). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Ecuador according to the relatedness index, were Coconut Oil (0.13), Manganese Ore (0.12), Raw Sugar (0.12), Other Oily Seeds (0.12), and Insect Resins (0.12). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Ecuador is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.
During the last 20 years Ecuador's economy has become relatively less complex, moving from the 65th to the 104th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
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