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2023
Exports $43.9MWorld Rnk 88 / 225
Flag Rnk 26 / 96
2023
Destination $1.29M Chile
2022 - 2023
FASTEST GROWING MARKET $1.29MHonduras
2023
PRODUCT COMPLEXITY IN Pharmaceutical products1.25Rnk 89 / 1025
2023
Imports $1.19BWorld Rnk 61 / 226
Flag Rnk 7 / 96
2023
Origin $28.9M Colombia
2022 - 2023
FASTEST GROWING ORIGIN $28.9MMexico
2023
ECONOMIC COMPLEXITY of Ecuador-0.85Rnk 104 / 132

About

Exports In 2023, Ecuador exported $43.9M in Pharmaceutical products, making it the 88th largest exporter of Pharmaceutical products in the world. At the same year, Pharmaceutical products was the 26th most exported product in Ecuador. The main destination of Pharmaceutical products exports from Ecuador are: Chile ($8.15M), Colombia ($6.52M), Panama ($5.12M), Peru ($4.73M), and Bolivia ($2.97M).

The fastest growing export markets for Pharmaceutical products of Ecuador between 2022 and 2023 were Honduras ($1.29M), El Salvador ($838k), and Dominican Republic ($616k).

Imports In 2023, Ecuador imported $1.19B in Pharmaceutical products, becoming the 61st largest importer of Pharmaceutical products in the world. At the same year, Pharmaceutical products was the 7th most imported product in Ecuador. Ecuador imports Pharmaceutical products primarily from: Colombia ($154M), United States ($123M), Germany ($114M), Mexico ($97.3M), and Argentina ($77.1M).

The fastest growing import markets in Pharmaceutical products for Ecuador between 2022 and 2023 were Mexico ($28.9M), Argentina ($22.2M), and Colombia ($14M).

COMPANIES In 2021, leading companies such as One Banana (41) were at the forefront of shipping Pharmaceutical products from Ecuador to the United States.

Latest Trends

December 2021

About

Overview In December 2021 Ecuador's Pharmaceutical products exports accounted up to $1.59M and imports accounted up to $121M, resulting in a negative trade balance of $119M. Between December 2020 and December 2021 the exports of Ecuador's   Pharmaceutical products have increased by $194k (13.9%) from $1.39M to $1.59M, while imports increased by $46.8M (63.5%) from $73.7M to $121M.

Destinations In December 2021, Pharmaceutical products were exported mostly to Chile ($490k), United States ($223k), Bolivia ($164k), Panama ($147k), and Peru ($146k), and were imported mostly from United States ($18.2M), Belgium ($10.1M), China ($9.81M), Colombia ($9.51M), and Germany ($8.88M).

Growth In December 2021, the increase in Pharmaceutical products's year-by-year exports was explained primarily by an increase in exports to Peru ($389k or 229%), Panama ($198k or 41.7%), and Paraguay ($8.95k or 32.1%). In December 2021, the increase in Pharmaceutical products's year-by-year imports was explained primarily by an increase in imports from Mexico ($3M or 82.6%), Uruguay ($2.55M or 134%), and France ($1.93M or 86.2%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2020 - December 2021)$194k(13.9%)
IMPORT GROWTH (December 2020 - December 2021)$46.8M(63.5%)
MAIN DESTINATION (December 2021)Chile$490k

This section shows Pharmaceutical products's exports and imports data at subnational level for Ecuador. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Pharmaceutical products over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$43.9M
IMPORTS (2023)$1.19B
NET TRADE (2023)-$1.15B

In 2023, Ecuador exported $43.9M in Pharmaceutical products. The main destinations of Ecuador exports on Pharmaceutical products were Chile ($8.15M), Colombia ($6.52M), Panama ($5.12M), Peru ($4.73M), and Bolivia ($2.97M).

In 2023, Ecuador imported $1.19B in Pharmaceutical products, mainly from Colombia ($154M), United States ($123M), Germany ($114M), Mexico ($97.3M), and Argentina ($77.1M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Pharmaceutical products EXPORT MARKETS FOR Ecuador WERE (2022 - 2023):
Honduras$1.29M (1.33k%)
El Salvador$838k (49.1%)
Dominican Republic$616k (32%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Pharmaceutical products BY Ecuador WERE (2022 - 2023):
Costa Rica-$2.46M (-66.1%)
Panama-$2.11M (-29.2%)
Guatemala-$1.13M (-32.3%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Ecuador's main exporting competitors in Pharmaceutical products were:
Germany $115B
United States $100B
Ireland $92B
In 2023, Ecuador's main importing competitors in Pharmaceutical products were:
United States $170B
Germany $71.1B
Switzerland $58.2B

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Trade Value of Pharmaceutical products by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALColombia+ $6.13M
TOP IMPORT POTENTIALGermany+ $47.1M

Pharmaceutical products’s highest export potential is Colombia. With an export gap of $6.13M.   Pharmaceutical products’s highest import potential is Germany with an import gap of $47.1M.

See methodology.

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