Ecuador's trade balance shifted to a USD 122.8 million surplus in November 2019 from a USD 350.3 billion deficit in the same month of the previous year. Exports jumped 12.8 percent year-on-year to USD 1878.1 million, boosted by higher sales of commodity goods (13.6 percent), namely shrimps (46 percent), bananas (3.2 percent), cacao (0.8 percent), flowers (3.2 percent) and wood (108.5 percent); and industrial (8.9 percent), of which petroleum derivatives (2.2 percent) and metals (11.6 percent). Imports fell 12.9 percent to USD 1755.2 million, mostly due to lower purchases of commodities (-15.6 percent), in particular industrial (-13.7 percent), agricultural (-20.5 percent) and construction materials (-20.8 percent); capital goods (-16 percent), mainly industrial (-13.7 percent), transport equipment (-20.5 percent) and agricultural (-27.7 percent); consumption (-11.4 percent), of which durable (-19.9 percent), non-durable (-5.3 percent); and fuels & lubricants (-7.2 percent). Balance of Trade in Ecuador averaged -26294.56 USD Thousand from 1985 until 2019, 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. source: Banco Central del Ecuador
Balance of Trade in Ecuador is expected to be 30000.00 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 -620000.00 USD Thousand in 2020, according to our econometric models.