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2022
Flag → Flag
Exports $63.5MRnk 44 / 170
2022
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Top Product $13.9MProcessed Fish
2022
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Exports $44.1MRnk 17 / 126
2022
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Top Product $37.4MNon-fillet Frozen Fish
2022
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Economic Complexity (ECI) ECI -0.96Rnk 109 / 133
2022
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Economic Complexity (ECI) ECI -0.87Rnk 107 / 133
2022
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GDP$115BCURRENT US$
Rnk 62 / 186
2012-2022
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GDP GROWTH30.9%CURRENT US$
Rnk 98 / 186
2022
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GDP PC $6,391CURRENT US$
Rnk 101 / 186
2012-2022
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GDP PC GROWTH12.6%CURRENT US$
Rnk 106 / 186

About

Ecuador-Venezuela In 2022, Ecuador exported $63.5M to Venezuela. The main products that Ecuador exported to Venezuela are Processed Fish ($13.9M), Rubber Tires ($7.52M), and Other Vegetable Oils ($6.68M). During the last 27 years the exports of Ecuador to Venezuela have increased at an annualized rate of 1.71%, from $40.2M in 1995 to $63.5M in 2022.

In 2022, Ecuador did not export any services to Venezuela.

Venezuela-Ecuador In 2022, Venezuela exported $44.1M to Ecuador. The main products that Venezuela exported to Ecuador were Non-fillet Frozen Fish ($37.4M), Aluminium Wire ($2.1M), and Packaged Medicaments ($1.82M). During the last 27 years the exports of Venezuela to Ecuador have decreased at an annualized rate of 6.55%, from $275M in 1995 to $44.1M in 2022.

In 2022, Venezuela did not export any services to Ecuador.

Comparison In 2022,  Ecuador ranked 109 in the Economic Complexity Index (ECI -0.96), and 68 in total exports ($36B). That same year, Venezuela ranked 107 in the Economic Complexity Index (ECI -0.87), and 132 in total exports ($4.3B).

Latest Trends

December, 2021

About

Overview In December 2021, Ecuador exported $5.91M and imported $3.21M from Venezuela, resulting in a positive trade balance of $2.7M. Between December 2020 and December 2021 the exports of Ecuador have increased by $2.65M (81.1%) from $3.26M to $5.91M, while imports increased by $1.01M (45.9%) from $2.2M to $3.21M.

Trade In December 2021, the top exports of Ecuador to Venezuela were Processed Fish ($585k), Electric Batteries ($299k), Raw Plastic Sheeting ($294k), Rubber Tires ($285k), and Gelatin ($132k). In December 2021 the top imports of Ecuador from Venezuela were Non-woven Textiles ($161k), Heavy Pure Woven Cotton ($88.8k), Carboxyamide Compounds ($37.3k), Baked Goods ($35.9k), and Compounded Unvulcanised Rubber ($31.4k).

Origins In December 2021 the exports of Ecuador were mainly from Guayaquil-Marítimo ($3.86M) and Manta ($2.05M), while imports destinations were mainly Manta ($2.98M), Quito ($194k), and Guayaquil-Marítimo ($39.9k).

Growth In December 2021, the increase in Ecuador's year-by-year exports to Venezuela was explained primarily by an increase in product exports in Raw Plastic Sheeting ($286k or 3.86k%). In December 2021, the increase in Ecuador's year-by-year imports  from Venezuela was explained primarily by an increase in product imports  in Non-woven Textiles ($134k or 487%) and Heavy Pure Woven Cotton ($5k or 5.96%).

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (December 2020 - December 2021)$2.65M(81.1%)
IMPORT GROWTH (December 2020 - December 2021)$1.01M(45.9%)
MAIN EXPORTER (December 2021)Guayaquil-Marítimo$3.86M

This section shows exports and imports data at subnational level for Ecuador. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Ecuador over time.

To check Venezuela and Ecuador trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Venezuela and Ecuador Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Ecuador exported $63.5M to Venezuela. The main products exported from Ecuador to Venezuela were Processed Fish ($13.9M), Rubber Tires ($7.52M), and Other Vegetable Oils ($6.68M). During the last 27 years the exports of Ecuador to Venezuela have increased at an annualized rate of 1.71%, from $40.2M in 1995 to $63.5M in 2022.

In 2022, Venezuela exported $44.1M to Ecuador. The main products exported from Venezuela to Ecuador were Non-fillet Frozen Fish ($37.4M), Aluminium Wire ($2.1M), and Packaged Medicaments ($1.82M). During the last 27 years the exports of Venezuela to Ecuador have decreased at an annualized rate of 6.55%, from $275M in 1995 to $44.1M in 2022.

Exports from Ecuador (Flag) to Venezuela (Flag) (2022)

Exports from Venezuela (Flag) to Ecuador (Flag) (2022)

Market Competitiveness

Color
Ecuador
Top DestinationUnited States$9.86B
Venezuela
Top DestinationChina$703M

This map shows whether countries import more from Ecuador or Venezuela. Each country is colored based on the difference in imports they receive from Ecuador and Venezuela or the difference in the growth in imports.

In 2021, countries that imported more from Ecuador than Venezuela were United States ($9.86B), China ($6.17B), and Panama ($4.97B).

In 2021, countries that imported more from Venezuela than Ecuador were Turkey ($597M), Brazil ($361M), and Lebanon ($150M).

Difference in imports from Venezuela (Flag) and Ecuador (Flag) (2022)

Comparative Advantage Ecuador - Venezuela

Flow
Scale

This chart compares trade between Ecuador and Venezuela by product, considering products traded by both, Ecuador and Venezuela.

During 2022, Ecuador had a large net trade with Venezuela in the exports of Foodstuffs ($20.1M), Plastics and Rubbers ($13.6M), and Animal and Vegetable Bi-Products ($7.36M).

During 2022, Venezuela had a large net trade with Ecuador in the exports of Animal Products ($37.6M), Metals ($2.15M), and Chemical Products ($2.11M).

Economic Complexity

Competitive Landscape

This visualization show the product space at the HS4 level colored from blue to yellow.  This mean that the more blue a dot/product is, the more Ecuador has comparative advantage over Venezuela. Similarly, the more yellow a dot/product is, the more Venezuela has comparative advantage over Ecuador.

Product Space of Ecuador (Flag) and Venezuela (Flag) (2022)

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