Ecuador’s Top 10 Imports

Ecuador's Top 10 Imports

by Flagpictures.org

Ecuador imported US$19.8 billion worth of goods from around the globe in 2017, down by -26.7% since 2013 but up by 22.6% from 2016 to 2017.

Ecuador’s top 10 imports accounted for over two-thirds (69.1%) of the overall value of its product purchases from other countries.

Ecuadorian imports represent 0.1% of total global imports which totaled $16.054 trillion one year earlier in 2016.

From a continental perspective, 31.5% of Ecuador’s total imports by value in 2017 were purchased from Asian countries. North American trade partners represent 25% of import purchases by Ecuador while 28.1% worth of imported goods originated from fellow Latin American nations (excluding Mexico) and the Caribbean. Smaller percentages came from Europe (14.6%) and Africa (0.3%).

Given Ecuador’s population of 16.3 million people, its total $19.8 billion in 2017 imports translates to roughly $1,200 in yearly product demand from every person in the South American country.

Ecuador’s Top 10 Imports

Top 10

The following product groups represent the highest dollar value in Ecuador’s import purchases during 2017. Also shown is the percentage share each product category represents in terms of overall imports into Ecuador.

  1. Mineral fuels including oil: US$3.4 billion (17% of total imports)
  2. Machinery including computers: $2.4 billion (11.9%)
  3. Vehicles: $1.9 billion (9.5%)
  4. Electrical machinery, equipment: $1.7 billion (8.7%)
  5. Pharmaceuticals: $990.7 million (5%)
  6. Plastics, plastic articles: $988.8 million (5%)
  7. Iron, steel: $744.1 million (3.7%)
  8. Food industry waste, animal fodder: $666.2 million (3.4%)
  9. Optical, technical, medical apparatus: $490.5 million (2.5%)
  10. Other chemical goods: $483.8 million (2.4%)

Imported vehicles had the fastest-growing increase in value among the top 10 product categories, up by 64.7% from 2016 to 2017.

In second place for improving import sales was the iron and steel category, up by 61.9%. Trailing that were Ecuadorian imports of optical, technical and medical apparatus delivering the third-fastest gain up by 33%.

Please note that the results listed above are at the 2-digit Harmonized Tariff System code level. Information presented under other virtual folder tabs is at the more granular 4-digit level.

Fuel

In 2017, Ecuadorian importers spent the most on the following 10 subcategories of mineral fuels-related products:

  1. Processed petroleum oils: US$1.7 billion (up 26.3% from 2016)
  2. Coal tar oils (high temperature distillation): $1.2 billion (up 20.4%)
  3. Petroleum gases: $469.5 million (up 56.5%)
  4. Petroleum oil residues: $27.1 million (up 87.7%)
  5. Petroleum jelly, mineral waxes: $11.3 million (up 4.7%)
  6. Crude oil: $5.5 million (up 2775.3%)
  7. Peat: $2.1 million (up 22.4%)
  8. Coal, solid fuels made from coal: $2 million (up 32.8%)
  9. Natural bitumen, asphalt, shale: $511,000 (up 56.7%)
  10. Electrical energy: $432,000 (down -96.2%)

Among these import subcategories, Ecuadorian purchases of crude oil (up 2,775%), petroleum oil residues (up 87.7%) and natural bitumen, asphalt and shale (up 56.7%) grew at the fastest pace from 2016 to 2017.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported mineral fuels-related products among Ecuadorian businesses and consumers.

Machinery

In 2017, Ecuadorian importers spent the most on the following 10 subcategories of machines including computers:

  1. Computers, optical readers: US$181.6 million (down -8.8% from 2016)
  2. Liquid pumps and elevators: $136.5 million (up 27.8%)
  3. Refrigerators, freezers: $129.1 million (up 47.9%)
  4. Printing machinery: $125.4 million (up 44.1%)
  5. Centrifuges, filters and purifiers: $120.3 million (up 17.4%)
  6. Air conditioners: $104.3 million (up 30%)
  7. Sort/screen/washing machinery: $103 million (up 298.6%)
  8. Heavy machinery (bulldozers, excavators, road rollers): $96.5 million (up 82%)
  9. Air or vacuum pumps: $90.9 million (up 21.4%)
  10. Piston engine parts: $79.7 million (up 19.6%)

Among these import subcategories, Ecuadorian purchases of sort, screen or washing machinery (up 299%), heavy machinery including bulldozers and excavators (up 82%) and refrigerators or freezers (up 47.9%) grew at the fastest pace from 2016 to 2017.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported machinery among Ecuadorian businesses and consumers.

Vehicles

In 2017, Ecuadorian importers spent the most on the following 10 subcategories of vehicles:

  1. Cars: US$929.7 million (up 93.4% from 2016)
  2. Trucks: $337.9 million (up 81.2%)
  3. Automobile parts/accessories: $267.7 million (up 25.6%)
  4. Chassis fitted with engine: $85.4 million (up 36%)
  5. Motorcycles: $79.6 million (up 80.7%)
  6. Tractors: $59.9 million (up 113.1%)
  7. Public-transport vehicles: $48.8 million (down -39.7%)
  8. Motorcycle parts/accessories: $24.1 million (up 38.6%)
  9. Special purpose vehicles: $12.5 million (up 61%)
  10. Trailers: $11.5 million (up 99.4%)

Among these import subcategories, Ecuadorian purchases of tractors (up 113%), trailers (up 99.4%) and cars (up 93.4%) grew at the fastest pace from 2016 to 2017.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported vehicles among Ecuadorian businesses and consumers.

Electronics

In 2017, Ecuadorian importers spent the most on the following 10 subcategories of electronic equipment including consumer electronics:

  1. Phone system devices including smartphones: US$423.2 million (up 12.7% from 2016)
  2. TV receivers/monitors/projectors: $213.7 million (up 61.2%)
  3. Insulated wire/cable: $123.4 million (down -23.5%)
  4. Electrical converters/power units: $88 million (down -27.8%)
  5. Lower-voltage switches, fuses: $87.5 million (up 22%)
  6. Electric motors, generators: $72.7 million (down -50.4%)
  7. Electric generating sets, converters: $61.7 million (up 5%)
  8. Electric water heaters, hair dryers: $58.1 million (down -20.8%)
  9. Unrecorded sound media: $48.5 million (up 20.2%)
  10. Electrical/optical circuit boards, panels: $48.3 million (up 92.3%)

Among these import subcategories, Ecuadorian purchases of electrical and optical circuit boards or panels (up 92%), TV receivers, monitors and projectors (up 61.2%) and lower-voltage switches or fuses (up 22%) grew at the fastest pace from 2016 to 2017.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported electronics among Ecuadorian businesses and consumers.



 
See also Ecuador’s Top 10 Exports, 20 Most Valuable Ecuadorian Export Products and Ecuador’s Top Trading Partners

Research Sources:
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on February 14, 2018

The World Factbook, Country Profiles, Central Intelligence Agency. Accessed on February 14, 2018

Trade Map, International Trade Centre, www.intracen.org/marketanalysis. Accessed on February 14, 2018