As per Ecuador import data Ecuador is the 8th Largest economy in the Latin American countries and 69th largest in the world by total GDP. According to Ecuador import trade data, Ecuador is one of the world top largest producers of palm oil, banana and cocoa. Ecuador import customs data shows It’s economy is highly dependent on primary industries includes agriculture, aquaculture and Petroleum.
As per Ecuador import shipment data Ecuador highly import crude oil to meet domestic its demand due to lack of capacity to enhance their own mineral fuels.
Ecuador also Import Vehicle and offers tax breaks on the Vehicles coming from the European region and Columbian market which has seen significant increase in the Imports of Vehicles Imported from these countries recently. The most popular brands Imported are the Hyundai, Toyota, Kia, Chevrolet and Great Wall.
As according to Ecuador import trade data the top trading partner of Ecuador is United States with a share of 21%, China with a share of 18.9% and Colombia with a share of 7.87%, USA with a share of 21% (4.39 billion US$), China with a share of 18.9% (3.83 billion US$) & Colombia with a share of 7.87% (1.59 billion US$).
As per Ecuador import customs data the value of merchandise imports to Ecuador totalled $ 20 billion in 2019. The value of merchandise imports to Ecuador was equal to $23 billion in 2018.
