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2023
Flag → Flag
Exports $47.3MRnk 54 / 174
2023
Flag → Flag
Top Product $33.2MCocoa Beans
2023
Flag → Flag
Exports $59.9MRnk 98 / 217
2023
Flag → Flag
Top Product $8.03MBlank Audio Media
2023
Flag
Economic Complexity (ECI) ECI -0.85Rnk 104 / 132
2023
Flag
Economic Complexity (ECI) ECI 1.62Rnk 6 / 132
2023
Flag  
GDP$119BCURRENT US$
Rnk 63 / 195
2013-2023
Flag
GDP GROWTH23.1%CURRENT US$
Rnk 131 / 195
2023
Flag
 GDP$501BCURRENT US$
Rnk 30 / 195
2013-2023
Flag
GDP GROWTH63%CURRENT US$
Rnk 47 / 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$84,734CURRENT US$
Rnk 8 / 196
2013-2023
Flag
GDP PC GROWTH48.7%CURRENT US$
Rnk 50 / 195

About

Ecuador-Singapore Trade: In 2023, Ecuador exported $47.3M to Singapore. The main products that Ecuador exported to Singapore were Cocoa Beans ($33.2M), Crustaceans ($8.97M), and Other Fruits ($2.6M). Over the past 5 years the exports of Ecuador to Singapore have increased at an annualized rate of 25.6%, from $15.1M in 2018 to $47.3M in 2023.

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

Singapore-Ecuador Trade: In 2023, Singapore exported $59.9M to Ecuador. The main products that Singapore exported to Ecuador were Blank Audio Media ($8.03M), Liquid Pumps ($6.22M), and Electric Motor Parts ($3.91M). Over the past 5 years the exports of Singapore to Ecuador have decreased at an annualized rate of 9.87%,  from $101M in 2018 to $59.9M in 2023.

In 2023, Singapore 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, Singapore ranked 6 in the Economic Complexity Index (ECI 1.62), and 24 in total exports ($333B).

Latest Trends

December, 2021

About

Overview In December 2021, Ecuador exported $1.88M and imported $4.45M from Singapore, resulting in a negative trade balance of $2.57M. Between December 2020 and December 2021 the exports of Ecuador have increased by $823k (78%) from $1.05M to $1.88M, while imports increased by $837k (23.2%) from $3.61M to $4.45M.

Trade In December 2021, the top exports of Ecuador to Singapore were Crustaceans ($636k), Other Fruits ($239k), Other live plants, cuttings and slips; mushroom... ($211k), Bananas ($79.1k), and Cut Flowers ($66.5k). In December 2021 the top imports of Ecuador from Singapore were Other Edible Preparations ($1.11M), Blank Audio Media ($481k), Polyacetals ($463k), Gas and Liquid Flow Measuring Instruments ($268k), and Electric Motor Parts ($214k).

Origins In December 2021 the exports of Ecuador were mainly from Guayaquil-Marítimo ($1.67M), Quito ($195k), and Guayaquil-Aéreo ($7.43k), while imports destinations were mainly Guayaquil-Marítimo ($2.37M), Quito ($1.3M), Tulcán ($514k), Guayaquil-Aéreo ($235k), and Huaquillas ($25.8k).

Growth In December 2021, the increase in Ecuador's year-by-year exports to Singapore was explained primarily by an increase in product exports in Other live plants, cuttings and slips; mushroom... ($132k or 167%). In December 2021, the increase in Ecuador's year-by-year imports  from Singapore was explained primarily by an increase in product imports  in Polyacetals ($311k or 204%), Gas and Liquid Flow Measuring Instruments ($267k or 20.3k%), and Blank Audio Media ($231k or 92.1%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2020 - December 2021)$823k(78%)
IMPORT GROWTH (December 2020 - December 2021)$837k(23.2%)
MAIN EXPORTER (December 2021)Guayaquil-Marítimo$1.67M

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 Singapore and Ecuador trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Singapore and Ecuador Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Ecuador exported $47.3M to Singapore. The main products exported from Ecuador to Singapore were Cocoa Beans ($33.2M), Crustaceans ($8.97M), and Other Fruits ($2.6M). During the last 5 years the exports of Ecuador to Singapore have increased at an annualized rate of 25.6%, from $15.1M in 2018 to $47.3M in 2023.

In 2018, Singapore exported $59.9M to Ecuador. The main products exported from Singapore to Ecuador were Blank Audio Media ($8.03M), Liquid Pumps ($6.22M), and Electric Motor Parts ($3.91M). During the last 5 years the exports of Singapore to Ecuador have decreased at an annualized rate of 9.87%, from $101M in 2023 to $59.9M in 2018.

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

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

Market Competitiveness

Color
Ecuador
Top DestinationUnited States$8.34B
Singapore
Top DestinationHong Kong$44.5B

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

In 2023, countries that imported more from Ecuador than Singapore included Panama ($4.38B), Peru ($1.15B), and Chile ($1.11B).

In 2023, countries that imported more from Singapore than Ecuador included Hong Kong ($44.5B), Malaysia ($31.4B), and China ($36.7B).

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

Comparative Advantage Ecuador - Singapore

Flow
Scale

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

During 2023, Ecuador had a large net trade with Singapore in the exports of Foodstuffs ($33.4M), Animal Products ($8.97M), and Vegetable Products ($4.27M).

During 2018, Singapore had a large net trade with Ecuador in the exports of Machines ($35.1M), Instruments ($9.64M), and Chemical Products ($3.67M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Ecuador Singapore+$15.5MRefined Petroleum
Top Product Potential Singapore Ecuador+$2.74MRefined Petroleum

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 Singapore. This means that a dot/product with the flag of Ecuador indicates it has a comparative advantage over Singapore. Similarly, a dot/product with the flag of Singapore indicates it has a comparative advantage over Ecuador.

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

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