That dollar total reflects a 70.2% advance compared to $20.2 billion five years earlier during 2020.
Year over year, the total value of Ecuadorean exports improved by 10.6% from $31.1 billion in 2023.
Ecuador’s official currency is US dollars.
Comprising its leading customers, the top 5 importers for Ecuadorean exported products were the United States of America, Panama, mainland China, Netherlands and Peru. Collectively, that international group of customers purchased three-fifths (60%) of Ecuador’s overall exports in 2024 as measured by dollar value.
Viewed from a continental lens, almost one-quarter (24.1%) of Ecuador’s exports by value was delivered to Asian countries while 30.3% was sold to importers in Latin America excluding Mexico but including the Caribbean. Ecuador shipped another 22.5% worth of goods to buyers in North America.
Smaller percentages went to customers in Europe (22.1%), Africa (0.8%) then Oceania (0.2%) led by New Zealand and Australia.
Given Ecuador’s population of 18 million people, its total $34.4 billion in 2024 exports translates to about $1,900 for every resident in the South American nation. That per-capita amount equals the $1,900 dollar average one year earlier in 2023.
Ecuador’s Top Trading Partners
Below is a list showcasing 25 of Ecuador’s top trading partners. That is, countries that imported the most Ecuadorean shipments by dollar value during 2024. Also shown is each import country’s percentage of total Ecuadorean exports.
- United States: US$7 billion (20.4% of Ecuador’s total exports)
- Panama: $6.3 billion (18.3%)
- mainland China: $5.1 billion (14.8%)
- Netherlands: $1.13 billion (3.3%)
- Peru: $1.11 billion (3.2%)
- Spain: $1 billion (2.9%)
- Chile: $948.2 million (2.8%)
- Russia: $898.3 million (2.6%)
- Colombia: $850.3 million (2.5%)
- Germany: $788.3 million (2.3%)
- Italy: $746.7 million (2.2%)
- Malaysia: $609.3 million (1.8%)
- Belgium: $601 million (1.7%)
- Indonesia: $481.8 million (1.4%)
- Switzerland: $449.3 million (1.3%)
- Mexico: $429 million (1.2%)
- France: $420 million (1.2%)
- Japan: $415.5 million (1.2%)
- United Kingdom: $319.6 million (0.9%)
- Canada: $294 million (0.9%)
- Argentina: $278.4 million (0.8%)
- United Arab Emirates: $260.6 million (0.8%)
- Finland: $231.1 million (0.7%)
- India: $216 million (0.6%)
- Türkiye: $200.9 million (0.6%)
More than four-fifths (81.4%) of overall Ecuadorean exports in 2024 was delivered to the above 25 trade partners.
The fastest increases in consumption of exports from Ecuador were posted by importers in: Indonesia (up 130.3% from 2023), Mexico (up 110.8%), Belgium (up 107.8%), Germany (up 89.6%) then Malaysia (up 87.3%).
Double-digit percentage decliners among the leading trade partners listed above belong to buyers in: the United Arab Emirates (down -56.6% from 2023), India (down -47.3%), Canada (down -15.2%) and mainland China (down -10.3%).
Countries Driving Ecuador’s Largest Trade Deficits
As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have a negative trade balance or deficit.
It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, that export country doesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports.
- mainland China: -US$1.5 billion (country-specific trade deficit in 2024)
- Colombia: -$1.3 billion
- United States: -$1.1 billion
- Brazil: -$907.3 million
- South Korea: -$658 million
- Argentina: -$494.3 million
- Canada: -$348.4 million
- Bolivia: -$319.7 million
- Thailand: -$262.5 million
- India: -$204.2 million
Among Ecuador’s trading partners that cause the greatest negative trade balances, Ecuadorean deficits with mainland China (up 108.3%), Argentina (up 66.6%) and India (up 59.6%) grew at the fastest pace from 2023 to 2024.
These cashflow deficiencies clearly indicate Ecuador’s competitive disadvantages with the above countries, but also represent key opportunities for Ecuador to develop country-specific strategies to strengthen its overall position in international trade.
Countries Behind Ecuador’s Best Trade Surpluses
Ecuador posted a total US$4.93 billion trade surplus for 2024, expanding by 2,037% compared to $230.7 million in black ink one year earlier in 2023.
Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.
Ecuador earned a subtotal $10.5 billion trade surplus with the following countries.
- Panama: US$6.2 billion (country-specific trade surplus in 2024)
- Netherlands: $906.7 million
- Russia: $718.9 million
- Malaysia: $540.9 million
- Belgium: $476.3 million
- Chile: $437.7 million
- Indonesia: $346.8 million
- Spain: $336.7 million
- Switzerland: $334.5 million
- United Arab Emirates: $231.6 million
Among Ecuador’s trading partners that generate the greatest positive trade balances, Ecuadorean surpluses with Indonesia (up 1,019%), Spain (up 198.4%) and Belgium (up 180.3%) grew at the fastest pace from 2023 to 2024.
The listed positive cashflow streams clearly indicate Ecuador’s competitive advantages with the above countries, but also represent key opportunities for Ecuador to develop country-specific strategies to optimize its overall position in international trade.
Companies Servicing Ecuadorean Trading Partners
Not one Ecuadorean corporation ranks among Forbes Global 2000.
Wikipedia does list exporters from Ecuador. Selected examples are shown below:
- Corporación Nacional de Telecomunicaciones–CNT EP (telecommunications)
- Ecua-Andino Hats (panama hats)
- Marathon Sports (sport equipment)
- TAME EP Linea Aerea del Ecuador (airliner)
- Tiendas Industriales Asociadas S.A.–Tía S.A. (discount retailer)
- Zhumir Latin Spirit (liquor)
See also Ecuador’s Top 10 Exports , Ecuador’s Top 10 Imports, 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 December 9, 2025
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on December 9, 2025
International Trade Centre, Trade Map. Accessed on December 9, 2025
Investopedia, Net Exports Definition. Accessed on December 9, 2025
Wikipedia, Ecuador. Accessed on December 9, 2025
Wikipedia, List of Companies of Ecuador. Accessed on December 9, 2025