From 2021 to 2022, total spending on Ecuadorean imports accelerated by 18.4% starting with $25.7 billion worth of imported products during 2021.
Ecuador’s official currency is US dollars.
Ecuadorean Major Product Suppliers
The latest available country-specific data shows that four-fifths (80%) of products imported from Ecuador were supplied by exporters in: United States of America (25.8% of the global total), mainland China (22.1%), Colombia (6.2%), Brazil (4.1%), South Korea (3.9%), Peru (3.5%), Canada (2.6%), Mexico (2.49%), Argentina (2.48%), Italy (2.47%), Spain (2.3%) and Germany (2%).
Applying a continental perspective, over a third (34.7%) of Ecuador’s total imports by value in 2022 were purchased from Asian countries. Another 30.9% worth of imported goods originated from North America, with 21.7% coming from suppliers in fellow Latin American nations excluding Mexico but including the Caribbean.
Providers in Europe furnished 13.1% worth of total Ecuadorean imports.
Tinier percentages were bought from exporters in Africa (0.21%) and Oceania (0.18%) mostly Australia and New Zealand.
Given Ecuador’s population of 18 million people, its total $30.5 billion in 2022 imports translates to roughly $1,700 in yearly product demand from every person in the northwestern South American nation. That dollar amount eclipses the average $1,450 per capita one year earlier in 2021.
Ecuador’s Top 10 Imports
The following product groups represent the highest dollar value in Ecuador’s import purchases during 2022. Also shown is the percentage share each product category represents in terms of overall imports into Ecuador.
- Mineral fuels including oil: US$7.4 billion (24.4% of total imports)
- Machinery including computers: $2.8 billion (9.3%)
- Vehicles: $2.6 billion (8.5%)
- Electrical machinery, equipment: $1.9 billion (6.3%)
- Food industry waste, animal fodder: $1.52 billion (5%)
- Plastics, plastic articles: $1.51 billion (5%)
- Pharmaceuticals: $1.2 billion (3.9%)
- Iron, steel: $1 billion (3.3%)
- Cereals: $713.2 million (2.3%)
- Other chemical goods: $602.7 million (2%)
Ecuador’s top 10 imports accounted for more than two-thirds (70%) of the overall value of its product purchases from other countries.
Ecuadorean purchases of mineral fuels including oil (up 52.1%) increased by the greatest percentage from 2021 to 2022. That increase was mostly due to higher spending on refined petroleum oils and high-temperature distilled coal tar oils.
In second place were imports of food industry waste and animal fodder (up 32%).
Ecuador’s imports of vehicles rang up a 26.5% increase compared to 2021.
The severest year-over-year decline among leading Ecuadorean imports was the -19.3% drop for pharmaceuticals.
Please note that the results listed above are at the 2-digit Harmonized Tariff System (HTS) code level.
Information presented below is from the more granular 4-digit HTS codes perspective.
Drilling down on the detailed 4-digit HTS codes, Ecuador spent the most on imports of processed petroleum oils (13.9% of Ecuadorean imports), high-temperature distilled coal tar oils (7.6%), cars (3.8%), solid residues including soya bean oilcake (3%), medication mixes in dosage (2.7%), petroleum gases (2.5%), trucks (2.2%), wheat (1.9%), phone devices including smartphones (1.8%), then miscellaneous animal feed preparations (1.4%).
Ecuador’s Main Fuel Imports
In 2022, Ecuadorean importers spent the most on the following 10 subcategories of mineral fuels-related products.
- Processed petroleum oils: US$4.2 billion (up 69.5% from 2021)
- Coal tar oils (high temperature distillation): $2.3 billion (up 45.6%)
- Petroleum gases: $768.3 million (up 9.5%)
- Petroleum oil residues: $49.8 million (down -11.9%)
- Petroleum jelly, mineral waxes: $17.7 million (up 25.6%)
- Electrical energy: $14.2 million (up 209.2%)
- Coal, solid fuels made from coal: $14.2 million (up 84.3%)
- Peat: $5 million (down -6.2%)
- Natural bitumen, asphalt, shale: $628,000 (up 152.2%)
- Asphalt/petroleum bitumen mixes: $549,000 (up 123.2%)
Among these import subcategories, Ecuadorian purchases of electrical energy (up 209.2%), natural bitumen, asphalt and shale (up 152.2%) then asphalt or petroleum bitumen mixes (up 123.2%) grew at the fastest pace from 2021 to 2022.
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 Ecuadorean businesses and consumers.
Ecuador’s Main Machinery Imports
In 2022, Ecuadorean importers spent the most on the following 10 subcategories of machines including computers.
- Computers, optical readers: US$344.7 million (down -6.7% from 2021)
- Refrigerators, freezers: $182.2 million (up 1.6%)
- Heavy machinery (bulldozers, excavators, road rollers): $179.1 million (up 34.2%)
- Centrifuges, filters and purifiers: $137 million (up 17.1%)
- Liquid pumps and elevators: $131.7 million (down -4.8%)
- Printing machinery: $117.1 million (up 10.7%)
- Miscellaneous machinery: $106.7 million (up 28.3%)
- Air or vacuum pumps: $98.8 million (up 15.9%)
- Piston engine parts: $98.7 million (up 4.4%)
- Taps, valves, similar appliances: $96.9 million (up 5.1%)
Among these import subcategories, Ecuadorian purchases of heavy machinery such as bulldozers, excavators and road rollers) (up 34.2%), miscellaneous machinery (up 28.3%) then centrifuges, filters and purifiers (up 17.1%) grew at the fastest pace from 2021 to 2022.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported machinery among Ecuadorean businesses and consumers.
Ecuador’s Main Vehicles Imports
In 2022, Ecuadorean importers spent the most on the following 10 subcategories of vehicles.
- Cars: US$1.2 billion (up 30.5% from 2021)
- Trucks: $667.1 million (up 35.7%)
- Automobile parts/accessories: $288.4 million (up 20.1%)
- Motorcycles: $205.6 million (up 19.1%)
- Tractors: $129.4 million (up 28.5%)
- Motorcycle parts/accessories: $36.4 million (down -17.2%)
- Public-transport vehicles: $36 million (up 34.3%)
- Bicycles, other non-motorized cycles: $24.5 million (down -37.9%)
- Trailers: $16.6 million (up 1.9%)
- Chassis fitted with engine: $15.6 million (down -3.2%)
Among these import subcategories, Ecuadorian purchases of trucks (up 35.7%), public-transport vehicles (up 34.3%) then cars (up 30.5%) grew at the fastest pace from 2021 to 2022.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported vehicles among Ecuadorean businesses and consumers.
Ecuador’s Main Electrical Imports
In 2022, Ecuadorean importers spent the most on the following 10 subcategories of electronic equipment including consumer electronics.
- Phone devices including smartphones: US$550.8 million (down -10.9% from 2021)
- TV receivers/monitors/projectors: $219.6 million (up 0.1%)
- Insulated wire/cable: $164.5 million (up 7.1%)
- Lower-voltage switches, fuses: $107.1 million (up 0.2%)
- Electrical converters/power units: $84.9 million (up 8.2%)
- Electric generating sets, converters: $75.4 million (up 265.9%)
- Electrical/optical circuit boards, panels: $64.6 million (up 22.8%)
- Electric water heaters, hair dryers: $60.7 million (down -6.4%)
- Electric motors, generators: $56.3 million (up 24.4%)
- Microphones/headphones/amps: $45.8 million (up 18.2%)
Among these import subcategories, Ecuadorian purchases of electric generating sets or converters (up 265.9%), electric motors and generators (up 24.4%), then electrical or optical circuit boards and panels (up 22.8%) grew at the fastest pace from 2021 to 2022.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported electronics among Ecuadorean businesses and consumers.
See also Ecuador’s Top Trading Partners, Ecuador’s Top 10 Exports, Colombia’s Top Trading Partners, Chile’s Top Trading Partners and Argentina’s Top Trading Partners
Research Sources:
Central Intelligence Agency, The World Factbook South America: Ecuador. Accessed on May 31, 2023
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on May 31, 2023
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on May 31, 2023
International Trade Centre, Trade Map. Accessed on May 31, 2023
Investopedia, Net Exports Definition. Accessed on May 31, 2023
Wikipedia, Ecuador. Accessed on May 31, 2023
Wikipedia, List of Companies of Ecuador. Accessed on May 31, 2023