Crude oil and related products accounts for 58 percent of Ecuador’s exports. The country is also major exporter of bananas (9 percent); fish and shrimps (11 percent) and coffee and cocoa (4 percent). Main export partners are: United States (45 percent of total exports), Chile (8.4 percent) and Peru (8 percent).
Contents
What are some exports in Ecuador?
Top 10
- Mineral fuels including oil: US$5.3 billion (26.2% of total exports)
- Fish: $4.2 billion (20.6%)
- Fruits, nuts: $3.9 billion (19.2%)
- Meat/seafood preparations: $1.2 billion (5.9%)
- Cocoa: $935 million (4.6%)
- Live trees, plants, cut flowers: $845.7 million (4.2%)
- Wood: $822.2 million (4.1%)
What is Ecuador’s main import?
Ecuador main imports are: raw materials (25 percent of total imports), capital goods (19 percent), fuels and lubricants (17 percent), consumption durables (13 percent) and transport equipment (9 percent).
What are the main products of Ecuador?
Ecuador’s main recognized agricultural products are bananas, coffee, cocoa, rice, potatoes, manioc (tapioca), plantains, sugarcane, cattle, sheep, pigs, beef, pork, dairy products, balsa wood, fish and shrimp. Ecuador’s main industries are petroleum, food processing, textiles, wood products and chemicals.
Does Ecuador import or export more?
Ecuador Exports and Imports of Product Groups 2019
Ecuador Raw materials exports are worth US$ 16,623 million, product share of 74.44%.Ecuador Consumer goods exports are worth US$ 4,181 million, product share of 18.73%. Ecuador Consumer goods imports are worth US$ 8,068 million, product share of 39.79%.
Who does Ecuador Trade with the most?
Ecuador trade balance, exports and imports by country
In 2019, Ecuador major trading partner countries for exports were United States, China, Panama, Chile and Peru and for imports they were United States, China, Colombia, Panama and Brazil.
What type of money is used in Ecuador?
United States Dollar
What are the imports and exports of Ecuador?
Ecuador’s main export commodities are petroleum, bananas, cut flowers and shrimp. Its main export partners are the United States, Panama, Peru and Italy. Its main import commodities are vehicles, medicinal products, telecommunications equipment and electricity.
What are 5 interesting facts about Ecuador?
Ecuador Facts: 10 Fascinating Things You Didn’t Know
- Ecuador means “equator” in Spanish.
- Yasuni Park is one of the most bio-diverse places on the planet.
- The Galapagos Islands inspired the Theory of Evolution.
- Chocolate has a long history in Ecuador.
- Ecuador is where to find orchid flowers.
How many tons of bananas does Ecuador export?
Today, Ecuador is the world’s largest banana exporter. In 2000, the most recent year for which total world-wide banana export figures are available, Ecuador exported 3,993,968 metric tons of the world’s 14,155,222 total metric tons of banana exports-approximately 28 percent.
Does Ecuador export gold?
Overseas sales of mainly gold, copper and silver is Ecuador’s fourth largest export and the great majority go to China, the US and Switzerland.
Why is Ecuador so poor?
Ecuador is one of the countries that don’t require children to obtain an education.Consequently, lack of education is one of the main causes of poverty in Ecuador. More than 60 percent of the population lives near the poverty line. Because of this, child labor is one of the main sources of income for many of families.
What are Peru’s main exports?
In 2020, Peru’s most exported products were ores, slag, and ash, reaching an amount of 13.2 billion U.S. dollars. Pearls, precious or semi-precious stones followed, with an exported value of 6.68 billion U.S. dollars. In that same year, the exports of edible vegetables and roots amounted to 676.82 million U.S. dollars.
Is Ecuador 3rd world country?
In summary, Ecuador is a third-world country. It meets the standards that are currently used to describe third-world countries. The country has high rates of poverty, a high infant mortality rate, poor prison conditions, and poor education levels.
What do the US and Ecuador trade?
Bilateral Economic Relations
The United States is Ecuador’s principal trading partner. Bilateral goods trade between the countries totaled more than $10 billion in 2020.U.S. imports from Ecuador include crude oil, shrimp and prawns, bananas and plantains, cocoa, and cut flowers (particularly roses).
What is grown in Ecuador?
Even though Ecuador exports large amounts of oil, it remains an agricultural country. Near the urban areas the most common crops are corn, wheat, barley, and potatoes, while near the coastal bananas, cocoa, and coffee are grown for export.
What is a popular food in Ecuador?
Ecuador Food and Drink
- Cuy: Roast guinea pig.
- Locro: Soup of potatoes, corn, cheese and avocado.
- Empanadas: Corn pasties stuffed with meat, cheese or vegetables.
- Llapingachos: Cheesy potato cakes.
- Seco de chivo: Goat stew usually served on special occasions.
- Ceviche: Raw seafood ‘cooked’ in lime and chilli.
What is Ecuador known for?
Ecuador is famous for being home to the Galápagos Islands, but there’s much more to the fourth-smallest nation in South America. From its historic links to the ancient Inca to unusual modern-day exports, here are some amazing things you might not have known about Ecuador.
Is the US dollar used in Ecuador?
The official currency of Ecuador is the US dollar. While US dollar bills are used in Ecuador, the country issues its own centavo coins. US dollars have been used in Ecuador since 2000 and replaced the former currency, the Ecuadorian sucre. When introduced the dollar was equal to around 25,000 sucres.
How does Ecuador make money?
Ecuador’s economy is based on the export of oil, bananas, shrimp, gold, other primary agricultural products and money transfers from Ecuadorian emigrants employed abroad. In 2017, remittances constituted 2.7% of country’s GDP.The country is substantially dependent on its petroleum resources.
What are Colombia’s exports?
Top Colombia Exports
- Crude Petroleum and Coal Briquettes. This is by far the largest export commodity in Colombia.
- Coffee and Spices. Using data from 2018, Coffee and spices made up 5.6 % of the total exports.
- Gems and Precious Metals.
- Plastics.
- Live Trees and Cut Flowers.
- Fruits and Nuts.
- Steel and Iron.
- Vehicles.
