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2023
Flag → Flag
Exports $53.2MRnk 51 / 174
2023
Flag → Flag
Top Product $13.7MProcessed Fish
2023
Flag → Flag
Exports $41.5MRnk 15 / 122
2023
Flag → Flag
Top Product $34.6MNon-fillet Frozen Fish
2023
Flag
Economic Complexity (ECI) ECI -0.85Rnk 104 / 132
2023
Flag
Economic Complexity (ECI) ECI -0.82Rnk 100 / 132
2023
Flag  
GDP$119BCURRENT US$
Rnk 63 / 195
2013-2023
Flag
GDP GROWTH23.1%CURRENT US$
Rnk 131 / 195
2023
Flag
GDP PC $6,610CURRENT US$
Rnk 109 / 195
2013-2023
Flag
GDP PC GROWTH8.19%CURRENT US$
Rnk 141 / 195

About

Ecuador-Venezuela Trade: In 2023, Ecuador exported $53.2M to Venezuela. The main products that Ecuador exported to Venezuela were Processed Fish ($13.7M), Refined Petroleum ($7.56M), and Raw Plastic Sheeting ($6.45M). Over the past 5 years the exports of Ecuador to Venezuela have increased at an annualized rate of 8.19%, from $35.9M in 2018 to $53.2M in 2023.

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

Venezuela-Ecuador Trade: In 2023, Venezuela exported $41.5M to Ecuador. The main products that Venezuela exported to Ecuador were Non-fillet Frozen Fish ($34.6M), Packaged Medicaments ($1.93M), and Aluminium Wire ($1.74M). Over the past 5 years the exports of Venezuela to Ecuador have increased at an annualized rate of 37.7%,  from $8.36M in 2018 to $41.5M in 2023.

In 2023, Venezuela 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, Venezuela ranked 100 in the Economic Complexity Index (ECI -0.82), and 113 in total exports ($7.63B).

Latest Trends

December, 2021

About

Overview In December 2021, Ecuador exported $5.91M and imported $3.21M from Venezuela, resulting in a positive trade balance of $2.7M. Between December 2020 and December 2021 the exports of Ecuador have increased by $2.65M (81.1%) from $3.26M to $5.91M, while imports increased by $1.01M (45.9%) from $2.2M to $3.21M.

Trade In December 2021, the top exports of Ecuador to Venezuela were Processed Fish ($585k), Electric Batteries ($299k), Raw Plastic Sheeting ($294k), Rubber Tires ($285k), and Gelatin ($132k). In December 2021 the top imports of Ecuador from Venezuela were Non-woven Textiles ($161k), Heavy Pure Woven Cotton ($88.8k), Carboxyamide Compounds ($37.3k), Baked Goods ($35.9k), and Compounded Unvulcanised Rubber ($31.4k).

Origins In December 2021 the exports of Ecuador were mainly from Guayaquil-Marítimo ($3.86M) and Manta ($2.05M), while imports destinations were mainly Manta ($2.98M), Quito ($194k), and Guayaquil-Marítimo ($39.9k).

Growth In December 2021, the increase in Ecuador's year-by-year exports to Venezuela was explained primarily by an increase in product exports in Raw Plastic Sheeting ($286k or 3.86k%). In December 2021, the increase in Ecuador's year-by-year imports  from Venezuela was explained primarily by an increase in product imports  in Non-woven Textiles ($134k or 487%) and Heavy Pure Woven Cotton ($5k or 5.96%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2020 - December 2021)$2.65M(81.1%)
IMPORT GROWTH (December 2020 - December 2021)$1.01M(45.9%)
MAIN EXPORTER (December 2021)Guayaquil-Marítimo$3.86M

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 Venezuela and Ecuador trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Ecuador exported $53.2M to Venezuela. The main products exported from Ecuador to Venezuela were Processed Fish ($13.7M), Refined Petroleum ($7.56M), and Raw Plastic Sheeting ($6.45M). During the last 5 years the exports of Ecuador to Venezuela have increased at an annualized rate of 8.19%, from $35.9M in 2018 to $53.2M in 2023.

In 2018, Venezuela exported $41.5M to Ecuador. The main products exported from Venezuela to Ecuador were Non-fillet Frozen Fish ($34.6M), Packaged Medicaments ($1.93M), and Aluminium Wire ($1.74M). During the last 5 years the exports of Venezuela to Ecuador have increased at an annualized rate of 37.7%, from $8.36M in 2023 to $41.5M in 2018.

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

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

Market Competitiveness

Color
Ecuador
Top DestinationUnited States$8.34B
Venezuela
Top DestinationUnited States$3.81B

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

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

In 2023, countries that imported more from Venezuela than Ecuador included Brazil ($468M), Turkey ($364M), and Lebanon ($106M).

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

Comparative Advantage Ecuador - Venezuela

Flow
Scale

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

During 2023, Ecuador had a large net trade with Venezuela in the exports of Foodstuffs ($18.7M), Plastics and Rubbers ($9.93M), and Mineral Products ($7.56M).

During 2018, Venezuela had a large net trade with Ecuador in the exports of Animal Products ($34.6M), Chemical Products ($2.35M), and Metals ($2.21M).

Economic Complexity

Competitive Landscape

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

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

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