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2023
Flag → Flag
Exports $185MRnk 25 / 174
2023
Flag → Flag
Top Product $149MPrecious Metal Ore
2023
Flag → Flag
Exports $60.1MRnk 73 / 206
2023
Flag → Flag
Top Product $16.4MKraft Paper
2023
Flag
Economic Complexity (ECI) ECI -0.85Rnk 104 / 132
2023
Flag
Economic Complexity (ECI) ECI 1.46Rnk 13 / 132
2023
Flag  
GDP$119BCURRENT US$
Rnk 63 / 195
2013-2023
Flag
GDP GROWTH23.1%CURRENT US$
Rnk 131 / 195
2023
Flag
 GDP$296BCURRENT US$
Rnk 47 / 195
2013-2023
Flag
GDP GROWTH9.35%CURRENT US$
Rnk 158 / 195
2023
Flag
GDP PC $6,610CURRENT US$
Rnk 109 / 195
2013-2023
Flag
GDP PC GROWTH8.19%CURRENT US$
Rnk 141 / 195
2023
Flag
GDP PC$52,926CURRENT US$
Rnk 23 / 196
2013-2023
Flag
GDP PC GROWTH6.51%CURRENT US$
Rnk 144 / 195

About

Ecuador-Finland Trade: In 2023, Ecuador exported $185M to Finland. The main products that Ecuador exported to Finland were Precious Metal Ore ($149M), Bananas ($27.4M), and Lifting Machinery ($3.32M). Over the past 5 years the exports of Ecuador to Finland have increased at an annualized rate of 68.4%, from $13.7M in 2018 to $185M in 2023.

In 2023, Ecuador did not export any services to Finland.

Finland-Ecuador Trade: In 2023, Finland exported $60.1M to Ecuador. The main products that Finland exported to Ecuador were Kraft Paper ($16.4M), Other Uncoated Paper ($8.68M), and Mixed Mineral or Chemical Fertilizers ($4.73M). Over the past 5 years the exports of Finland to Ecuador have increased at an annualized rate of 2.6%,  from $52.8M in 2018 to $60.1M in 2023.

In 2023, Finland did not export any services to Ecuador.

Comparison: In 2023,  Ecuador ranked 104 in the Economic Complexity Index (ECI -0.85), and 65 in total exports ($37.3B). That same year, Finland ranked 13 in the Economic Complexity Index (ECI 1.46), and 45 in total exports ($84.3B).

Latest Trends

December, 2021

About

Overview In December 2021, Ecuador exported $26.4M and imported $5.63M from Finland, resulting in a positive trade balance of $20.7M. Between December 2020 and December 2021 the exports of Ecuador have decreased by $-2.19M (-7.68%) from $28.5M to $26.4M, while imports increased by $336k (6.34%) from $5.3M to $5.63M.

Trade In December 2021, the top exports of Ecuador to Finland were Precious Metal Ore ($14.7M), Bananas ($625k), Cut Flowers ($594k), Frozen Vegetables ($74.7k), and Processed Fish ($43k). In December 2021 the top imports of Ecuador from Finland were Engine Parts ($529k), Kaolin Coated Paper ($126k), Liquid Pumps ($61.8k), Electrical Transformers ($54.8k), and Iron Fasteners ($53.8k).

Origins In December 2021 the exports of Ecuador were mainly from Guayaquil-Marítimo ($26.1M), Puerto Bolívar ($225k), Manta ($43.4k), and Quito ($26.6k), while imports destinations were mainly Guayaquil-Marítimo ($4.84M), Quito ($729k), Guayaquil-Aéreo ($61.8k), and Huaquillas ($8.25k).

Growth In December 2021, the decrease in Ecuador's year-by-year exports to Finland was explained primarily by an decrease in product exports in Precious Metal Ore ($-13.6M or -48%), Bananas ($-713k or -53.3%), and Processed Fish ($-269k or -86.2%). In December 2021, the increase in Ecuador's year-by-year imports  from Finland was explained primarily by an increase in product imports  in Electrical Transformers ($53k or 2.8k%), Machinery Having Individual Functions ($46.9k or 4.91k%), and Cellulose Fibers Paper ($26.1k or 173%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2020 - December 2021)$-2.19M(-7.68%)
IMPORT GROWTH (December 2020 - December 2021)$336k(6.34%)
MAIN EXPORTER (December 2021)Guayaquil-Marítimo$26.1M

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 to explore the exports or imports behavior of Ecuador over time.

To check Finland and Ecuador trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Finland and Ecuador Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Ecuador exported $185M to Finland. The main products exported from Ecuador to Finland were Precious Metal Ore ($149M), Bananas ($27.4M), and Lifting Machinery ($3.32M). During the last 5 years the exports of Ecuador to Finland have increased at an annualized rate of 68.4%, from $13.7M in 2018 to $185M in 2023.

In 2018, Finland exported $60.1M to Ecuador. The main products exported from Finland to Ecuador were Kraft Paper ($16.4M), Other Uncoated Paper ($8.68M), and Mixed Mineral or Chemical Fertilizers ($4.73M). During the last 5 years the exports of Finland to Ecuador have increased at an annualized rate of 2.6%, from $52.8M in 2023 to $60.1M in 2018.

Exports from Ecuador (Flag) to Finland (Flag) (2023)

Exports from Finland (Flag) to Ecuador (Flag) (2023)

Market Competitiveness

Color
Ecuador
Top DestinationUnited States$8.34B
Finland
Top DestinationUnited States$9.68B

This map shows whether countries import more from Ecuador or Finland. Each country is colored based on the difference in imports they receive from Ecuador and Finland or the difference in the growth in imports.

In 2023, countries that imported more from Ecuador than Finland included Panama ($4.38B), China ($7.96B), and Peru ($1.15B).

In 2023, countries that imported more from Finland than Ecuador included Germany ($9.26B), Sweden ($8.13B), and Netherlands ($5.51B).

Difference in imports from Finland (Flag) and Ecuador (Flag) (2023)

Comparative Advantage Ecuador - Finland

Flow
Scale

This chart compares trade between Ecuador and Finland by product, considering products traded by both, Ecuador and Finland.

During 2023, Ecuador had a large net trade with Finland in the exports of Mineral Products ($149M), Vegetable Products ($29.6M), and Machines ($3.58M).

During 2018, Finland had a large net trade with Ecuador in the exports of Paper Goods ($32M), Machines ($9.56M), and Chemical Products ($9.24M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Ecuador Finland+$1.71MBananas
Top Product Potential Finland Ecuador+$1.58MKaolin Coated Paper

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Ecuador and Finland. This means that a dot/product with the flag of Ecuador indicates it has a comparative advantage over Finland. Similarly, a dot/product with the flag of Finland indicates it has a comparative advantage over Ecuador.

Product Space of Ecuador (Flag) and Finland (Flag) (2023)

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