Ecuador's trade surplus narrowed to USD 62.5 million in March 2020 from USD 111.9 million in the corresponding month of the previous year, amid the coronavirus crisis. Exports plunged 18.6 percent over a year earlier to an over two-year low of USD 1585.5 million, mainly due to lower sales of commodity goods (-19.5 percent), namely crude oil (-56.3 percent); and manufactured products (-14.7 percent), of which petroleum derivatives (-47.2 percent), metals (-15.1 percent), and chemicals (-15.4 percent). Imports dropped 17 percent to a near three-year low of USD 1522.9 million, due to lower purchases of commodities (-11.2 percent), namely industrial (-11.9 percent) and construction materials (-29.4 percent); capital (-17.7 percent), mostly industrial (-17.6 percent), transport equipment (-17.8 percent) and agricultural (-18.9 percent); and consumption goods (-16.8 percent), namely non-durable (-5.3 percent) and durable (-32.8 percent); and fuels & lubricants (-27.5 percent).
Balance of Trade in Ecuador averaged -24397.86 USD Thousand from 1985 until 2020, reaching an all time high of 619602 USD Thousand in May of 2008 and a record low of -729014 USD Thousand in December of 2014. This page provides - Ecuador Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Ecuador Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on May of 2020. source: Banco Central del Ecuador
Balance of Trade in Ecuador is expected to be 20000.00 USD Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Ecuador to stand at -550000.00 in 12 months time. In the long-term, the Ecuador Balance of Trade is projected to trend around -420000.00 USD Thousand in 2021 and -620000.00 USD Thousand in 2022, according to our econometric models.