Ecuador Export Import Data: Everything you need to know about Ecuador overseas trade Encompassing the Amazon Jungle, Ecuador is situated in South America. It is shortly known as ECU. In March 2021, Ecuador trade balance (in surplus) decreased by 19.5 million USD approximately to meet the demand of consumption goods in the country. As per Ecuador's economic condition, Ecuador Import Export Data plays a crucial role in maintaining the country’s high-end trade relations at global level. Amid covid-19, Ecuador is one of the rare South American countries which are running in surplus. Such accurate custom data Ecuador speaks high of import-export business scope in the country. The slope of Ecuador’s current economic conditions also highlights the possibility of a deficit in the Balance of Trade for upcoming years. The reason being, due to the baseline impact of COVID-19, the demand for consumer goods in the country has been increasing persistently. Thereafter, causing the country to import more. Custom Ecuador data with Cybex.in experts help to examine that Ecuador’s total economy is only 6% focused towards the agricultural sector. Hence, the export of agricultural products to other countries by Ecuador is reasonably less. Whereas, 32% of GDP is focused on the industrial sector. And the rest is the service sector. Henceforth, the scope of benefiting from international trade for the country is seemingly less. In 2019, Ecuador's in-country population was 17 million only. With a 1.7% population growth rate, the native demand for consumer goods and agricultural goods has been increasing. As a consequence, the country’s willingness to maintain a surplus in upcoming years is questionable.
To find out what Ecuador export and imports at large, please read ahead: Ecuador Trading Partners by ranking:
Who does Ecuador Export to?
USA Peru China Chile Panama