Top US Imports & Exports with Ecuador in 2008

Fast-Growing Ecuadorian Crude Oil Sales Hit $7.1 Billion

© Daniel Workman

Mar 17, 2009

Despite a comparatively small population of 13.9 million, Ecuador grew its annual exports to America by 47.5% to US$9 billion in 2008, up 111.2% since 2004.

Ecuador’s imports from America rose 17.5% last year to $3.5 billion, a 106.8% increase from the 2004 amount.

Overall, the U.S. experienced a $5.6-billion deficit in its trade with Ecuador last year, mostly due to higher oil prices. Results from 2008 represent a 75% increase from America’s $3.2-billion trade deficit with Ecuador in 2007 and a 114.1% jump from the $2.6-billion deficit in 2004.

Top Exports from America to Ecuador

Below are the top ten goods imported from the USA into Ecuador for 2008.

1. Fuel oil … US$330 million, down 22% from 2007 (9.6% of US-source imports)
2. Plastic materials … $267.7 million, up 31.6% (7.8%)
3. Newsprint … $161 million, down 3% (4.7%)
4. Excavating machinery … $142.6 million, up 153% (4.1%)
5. Drilling & oilfield equipment … $133.5 million, up 21.4% (3.9%)
6. Computer accessories … $123.6 million, up 69.3% (3.6%)
7. Telecommunications equipment … $121.5 million, down 38.4% (3.5%)
8. Other petroleum products … $117.1 million, down 33.9% (3.4%)
9. Computers … $107.4 million, up 25.7% (3.1%)
10. Iron & steel mill products … $101.4 million, up 298.6% (2.9%).

Fastest-Growing US Exports to Ecuador

The following are 10 of the fastest-growing American imports into Ecuador last year. Only goods valued at $30 million or more were selected for this list.

1. Civilian aircraft … US$38.6 million, up 753% from 2007
2. Iron & steel mill products … $101.4 million, up 298.6%
3. Natural gas liquids … $93.3 million, up 251.2%
4. Excavating machinery … $142.6 million, up 153%
5. Industrial engines … $67.9 million, up 76.3%
6. Televisions, VCRs, DVD players … $30.4 million, up 70.6%
7. Computer accessories … $123.6 million, up 69.3%
8. Other industrial supplies … $40.4 million, up 68.4%
9. Measuring, testing & control instruments … $32.7 million, up 57%
10. Trucks, buses & special purpose vehicles … $60.5 million, up 55.1%.

Ecuador’s Top Exports to America

The top 10 commodities that the U.S. imports from Ecuador include millions of dollars worth of fish, fruits and vegetables.

1. Crude oil … US$7.1 billion, up 62.9% from 2007 (78.5% of Ecuadorian exports to USA)
2. Fish & shellfish … $601.4 million, up 5.4% (6.6%)
3. Fruits & preparations like frozen juices … $376.7 million, up 5.2% (4.2%)
4. Other petroleum products … $157.4 million, up 87.3% (1.7%)
5. Nursery stock, cut flowers & Christmas trees … $134.3 million, down 7.7% (1.5%)
6. Cocoa beans … $95.2 million, up 57% (1.1%)
7. Vegetables & preparations … $69.8 million, up 30.3% (0.8%)
8. Non-monetary gold … $60.8 million, up 36% (0.7%)
9. Fuel oil … $45.2 million, down 37% (0.5%)
10. Tobacco, waxes & non-food oils … $30.6 million, up 38.7% (0.3%).

Fastest-Growing Ecuadorian Exports to America

The leading growth exports into the U.S. from Ecuador include many of their top export categories. This suggests that Ecuador has a concentrated competitive advantage in these producing these goods.

1. Other petroleum products … US$157.4 million, up 87.3% from 2007
2. Crude oil … $7.1 billion, up 62.9%
3. Cocoa beans … $95.2 million, up 57%
4. Tobacco, waxes & non-food oils … $30.6 million, up 38.7%
5. Non-monetary gold … $60.8 million, up 36%
6. Vegetables & preparations … $69.8 million, up 30.3%
7. Lumber & rough wood … $35.9 million, up 13.4%
8. Fish & shellfish … $601.4 million, up 5.4%
9. Fruits & preparations like frozen juices … $376.7 million, up 5.2%
10. Plywood & veneers … $23 million, up 0.5%.

Sources

This analysis is based on latest statistics from the US Census Bureau - Foreign Trade Statistics as of the date of article publication.

Woven Ecuadorian Tapestry

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