From 2020 to 2021, total spending on Ecuadorian imports accelerated by 44.5% starting with $17.8 billion worth of imports during 2020.
Ecuador’s official currency is US dollars.
Ecuadorian Major Product Suppliers
The latest available country-specific data shows that 77.3% of products imported from Ecuador were supplied by exporters in: mainland China (23.5% of the global total), United States of America (22.1%), Colombia (6.9%), Brazil (3.9%), South Korea (3.6%), Peru (3.4%), Mexico (2.8%), Spain (2.4%), Japan (2.27%), Germany (2.25%), Argentina (2.19%) and Canada (2.11%).
Applying a continental perspective, well over a third (37.5%) of Ecuador’s total imports by value in 2021 were purchased from Asian countries. Another 27.1% worth of imported goods originated from North America. Suppliers in fellow Latin American nations excluding Mexico but including the Caribbean furnished 21.7% worth, ahead of providers from Europe (13.4%).
Tinier percentages came from Africa (0.23%) and Oceania (0.17%) led by Australia.
Given Ecuador’s population of 17.8 million people, its total $25.7 billion in 2021 imports translates to roughly $1,450 in yearly product demand from every person in the northwestern South American nation. That dollar amount eclipses the average $1,000 per capita one year earlier in 2020.
Ecuador’s Top 10 Imports
The following product groups represent the highest dollar value in Ecuador’s import purchases during 2021. Also shown is the percentage share each product category represents in terms of overall imports into Ecuador.
- Mineral fuels including oil: US$4.9 billion (19% of total imports)
- Machinery including computers: $2.6 billion (10.1%)
- Vehicles: $2 billion (7.9%)
- Electrical machinery, equipment: $1.9 billion (7.3%)
- Pharmaceuticals: $1.5 billion (5.8%)
- Plastics, plastic articles: $1.4 billion (5.4%)
- Food industry waste, animal fodder: $1.2 billion (4.5%)
- Iron, steel: $1.1 billion (4.2%)
- Other chemical goods: $591.8 million (2.3%)
- Cereals: $578.2 million (2.2%)
Ecuador’s top 10 imports accounted for more than two-thirds (68.8%) of the overall value of its product purchases from other countries.
Ecuadorian purchases of the metals iron and steel (up 120%) increased by the great percentage from 2020 to 2021.
In second place were imports of mineral fuels (up 73.5%) mostly due to higher spending on refined petroleum oils and petroleum gases.
Imports of plastics as materials and items made from plastic rang up a 64% increase.
The smallest year-over-year advance was the 16.1% gain for miscellaneous chemical products.
Please note that the results listed above are at the 2-digit Harmonized Tariff System code level. Information presented under the paragraphs below is at the more granular 4-digit level.
Ecuador’s Main Fuel Imports
In 2021, Ecuadorian importers spent the most on the following 10 subcategories of mineral fuels-related products.
- Processed petroleum oils: US$2.5 billion (up 69.6% from 2020)
- Coal tar oils (high temperature distillation): $1.6 billion (up 68.2%)
- Petroleum gases: $701.6 million (up 95.1%)
- Petroleum oil residues: $56.6 million (up 282.8%)
- Petroleum jelly, mineral waxes: $14.1 million (up 55.3%)
- Coal, solid fuels made from coal: $7.7 million (up 87%)
- Peat: $5.3 million (up 89.3%)
- Electrical energy: $4.6 million (up 13,867%)
- Natural bitumen, asphalt, shale: $249,000 (up 1,560%)
- Asphalt/petroleum bitumen mixes: $246,000 (up 79.6%)
Among these import subcategories, Ecuadorian purchases of electrical energy (up 13,867%), natural bitumen, asphalt and shale (up 1,560%) then petroleum oil residues (up 282.8%) grew at the fastest pace from 2020 to 2021.
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.
Ecuador’s Main Machinery Imports
In 2021, Ecuadorian importers spent the most on the following 10 subcategories of machines including computers.
- Computers, optical readers: US$369.5 million (up 14.3% from 2020)
- Refrigerators, freezers: $179.4 million (up 62.3%)
- Liquid pumps and elevators: $138.3 million (up 44.3%)
- Heavy machinery (bulldozers, excavators, road rollers): $133.5 million (up 104.4%)
- Centrifuges, filters and purifiers: $117 million (up 12.4%)
- Printing machinery: $105.8 million (up 4.8%)
- Piston engine parts: $94.5 million (up 38.6%)
- Taps, valves, similar appliances: $92.2 million (up 29.8%)
- Air or vacuum pumps: $85.3 million (up 27.7%)
- Miscellaneous machinery: $83.2 million (up 38.1%)
Among these import subcategories, Ecuadorian purchases of heavy machinery such as bulldozers, excavators and road rollers (up 104.4%), refrigerators and freezers (up 62.3%) then liquid pumps and elevators (up 44.3%) grew at the fastest pace from 2020 to 2021.
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.
Ecuador’s Main Vehicles Imports
In 2021, Ecuadorian importers spent the most on the following 10 subcategories of vehicles.
- Cars: US$881.8 million (up 61.3% from 2020)
- Trucks: $491.6 million (up 58.1%)
- Automobile parts/accessories: $240.1 million (up 49.2%)
- Motorcycles: $172.5 million (up 64.8%)
- Tractors: $100.7 million (up 50.4%)
- Motorcycle parts/accessories: $43.9 million (up 64.3%)
- Bicycles, other non-motorized cycles: $39.4 million (up 116.9%)
- Public-transport vehicles: $26.8 million (down -12.5%)
- Trailers: $16.3 million (up 60%)
- Chassis fitted with engine: $16.2 million (up 16.8%)
Among these import subcategories, Ecuadorian purchases of bicycles plus other non-motorized cycles (up 116.9%), motorcycles (up 64.8%) then motorcycle parts or accessories (up 64.3%) grew at the fastest pace from 2020 to 2021.
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.
Ecuador’s Main Electrical Imports
In 2021, Ecuadorian importers spent the most on the following 10 subcategories of electronic equipment including consumer electronics.
- Phone devices including smartphones: US$617.9 million (up 9.2% from 2020)
- TV receivers/monitors/projectors: $219.3 million (up 51.6%)
- Insulated wire/cable: $153.5 million (up 38.6%)
- Lower-voltage switches, fuses: $106.9 million (up 48.6%)
- Electrical converters/power units: $78.4 million (up 41.3%)
- Electric water heaters, hair dryers: $64.8 million (up 66.8%)
- Electrical/optical circuit boards, panels: $52.6 million (up 25.8%)
- Electric motors, generators: $45.3 million (up 62.3%)
- Unrecorded sound media: $40 million (down -27%)
- Electric storage batteries: $39.8 million (up 42.2%)
Among these import subcategories, Ecuadorian purchases of electric water heaters and hair dryers (up 66.8%), electric motors or generators (up 62.3%) then television receivers, monitors and projectors (up 51.6%) grew at the fastest pace from 2020 to 2021.
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 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 July 5, 2022
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on July 5, 2022
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on July 5, 2022
International Trade Centre, Trade Map. Accessed on July 5, 2022
Investopedia, Net Exports Definition. Accessed on July 5, 2022
Wikipedia, Ecuador. Accessed on July 5, 2022
Wikipedia, List of Companies of Ecuador. Accessed on July 5, 2022
