Ecuador - Foreign trade



Ecuador's trade balance is generally positive, due overwhelmingly to its oil exports. Ecuador's oil reserves and refineries account for slightly over half of the country's commodity exports (51%). Agricultural exports include bananas (17%), shellfish (5.7%), coffee and cocoa (2.6%), and fish (4.6%). In 2000, the government raised the price of Ecuadorian petrol by 60% in order to forge an economic recovery. Ecuador exports about half of its petroleum to the US, while the US supplied 26% of Ecuador's imports in 2000.

In 2000 Ecuador's imports were distributed among the following categories:

Ecuador

Consumer goods 15.2%
Food 7.0%
Fuels 7.2%
Industrial supplies 42.1%
Machinery 18.5%
Transportation 8.6%
Other 1.4%

Principal trading partners in 2000 (in millions of US dollars) were as follows:

Ecuador

COUNTRY EXPORTS IMPORTS BALANCE
United States 1,828 884 944
Korea 317 55 262
Panama 293 99 194
Colombia 260 488 -228
Chile 221 200 21
Italy 160 54 106
Japan 129 124 5
Germany 123 117 6
Venezuela 108 271 -163
Spain 71 59 12
Also read article about Ecuador from Wikipedia

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