2023
Flag  
GDP
$119BCURRENT US$
Rnk 63 / 195
2013-2023
Flag
GDP GROWTH
23.1%CURRENT US$
Rnk 131 / 195
2023
Flag
 GDP
$77.2BCURRENT US$
Rnk 81 / 195
2013-2023
Flag
GDP GROWTH
25.9%CURRENT US$
Rnk 122 / 195
2023
Flag
GDP PC 
$6,610CURRENT US$
Rnk 109 / 195
2013-2023
Flag
GDP PC GROWTH
8.19%CURRENT US$
Rnk 141 / 195
2023
Flag
GDP PC
$22,798CURRENT US$
Rnk 54 / 196
2013-2023
Flag
GDP PC GROWTH
24.3%CURRENT US$
Rnk 90 / 195

About

Ecuador-Uruguay Trade: In 2023, Ecuador exported $35.2M to Uruguay. The main products that Ecuador exported to Uruguay were Bananas ($12.7M), Processed Fish ($11.5M), and Cut Flowers ($2.41M). Over the past 5 years the exports of Ecuador to Uruguay have increased at an annualized rate of 1.8%, from $32.2M in 2018 to $35.2M in 2023.

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

Uruguay-Ecuador Trade: In 2023, Uruguay exported $51M to Ecuador. The main products that Uruguay exported to Ecuador were Rice ($11.9M), Scented Mixtures ($9.16M), and Other Edible Preparations ($5.72M). Over the past 5 years the exports of Uruguay to Ecuador have increased at an annualized rate of 8.51%,  from $33.9M in 2018 to $51M in 2023.

In 2023, Uruguay 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, Uruguay ranked 52 in the Economic Complexity Index (ECI 0.22), and 100 in total exports ($11B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Ecuador exported $35.2M to Uruguay. The main products exported from Ecuador to Uruguay were Bananas ($12.7M), Processed Fish ($11.5M), and Cut Flowers ($2.41M). During the last 5 years the exports of Ecuador to Uruguay have increased at an annualized rate of 1.8%, from $32.2M in 2018 to $35.2M in 2023.

In 2018, Uruguay exported $51M to Ecuador. The main products exported from Uruguay to Ecuador were Rice ($11.9M), Scented Mixtures ($9.16M), and Other Edible Preparations ($5.72M). During the last 5 years the exports of Uruguay to Ecuador have increased at an annualized rate of 8.51%, from $33.9M in 2023 to $51M in 2018.

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

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

Market Competitiveness

Color
Ecuador
Top Destination
United States$8.34B
Uruguay
Top Destination
China$2.34B

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

In 2023, countries that imported more from Ecuador than Uruguay included United States ($8.34B), China ($7.96B), and Panama ($4.38B).

In 2023, countries that imported more from Uruguay than Ecuador included Brazil ($1.92B), Turkey ($363M), and Argentina ($569M).

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

Comparative Advantage Ecuador - Uruguay

Flow
Scale

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

During 2023, Ecuador had a large net trade with Uruguay in the exports of Vegetable Products ($16.9M), Foodstuffs ($12.6M), and Animal Products ($2M).

During 2018, Uruguay had a large net trade with Ecuador in the exports of Chemical Products ($22M), Vegetable Products ($12M), and Foodstuffs ($8.36M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Ecuador Uruguay+$1.51MCrustaceans
Top Product Potential Uruguay Ecuador+$648kPackaged Medicaments

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

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

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