The U.S. State Department reports, the Ecuadorian economy is based on petroleum production, manufacturing primarily for the domestic market, and agricultural production for domestic consumption and export. Principal exports are petroleum, bananas, shrimp, flowers, and other primary agricultural products. In 2006, oil accounted for 59% of total export earnings. Ecuador is the world's largest exporter of bananas and plantains (about US$1.2 billion in 2006) and a major exporter of shrimp (US$588 million in 2006). Exports of nontraditional products such as flowers (US$436 million in 2006, a three-fold increase in 10 years) and canned fish (US$575 million in 2006) have grown in recent years. Other Latin American countries and the United States account, respectively, for 40% and 33% of Ecuador's export markets.
Export and Import Facts
- Ecuador's 2009 exports totaled US$13.8 billion, down from $18.5 billion in 2008
- Major exports include petroleum, bananas, shrimp, coffee, cut flowers, cacao, wood and fish
- Its 2009 imports totaled US$14.1 billion
Major imports include industrial materials, fuels and lubricants and nondurable consumer
Export/ Import Resources
Ecuador's bilateral chambers of commerce offer opportunities for networking that can help you establish new connections with importers in Ecuador or with businesses in other countries whose goods you want to import. Bilateral chambers of commerce in Ecuador include: