Ecuador - International trade
Ecuador's balance of trade fluctuates from year to year according to international demand and economic conditions in the country. In 1998 Ecuador ran a trade deficit, exporting $4.1 billion worth of goods and importing $5.5 billion. In 2000, exports were US$3.4 billion while imports reached US$5.6 billion. Ecuador's main trade partners are the United States, Japan, and Germany, followed by the other nations involved in the Andean Pact trade agreement (Colombia, Venezuela, Peru, and Bolivia). These trade associations have remained stable since the 1970s, and the quantity of goods traded has increased. A border dispute between Peru and Ecuador that flared up in 1994 caused a temporary damper on trade. During its war against Peru (which lasted until 1998), Ecuador imported greater quantities from the non-warring Andean nations to compensate for lost Peruvian goods.
Ecuador's main exports are oil, bananas, shrimp, and other agricultural goods. The United States, which provides a market for 35 percent of the country's exports, imported a total of US$1.2 billion worth of goods from Ecuador in 1998, most consisting of fish, petroleum,
|Trade (expressed in billions of US$): Ecuador|
|SOURCE: International Monetary Fund. International Financial Statistics Yearbook 1999.|
fruits, and vegetables. Ecuador sends exports of a similar nature to Europe and Japan, where there is demand for primary products and non-native foods.