Ecuador's trade deficit widened to USD 66.6 million in April 2020 from 7.4 million in the same month of the previous year, amid the coronavirus pandemic. Exports slumped 44.4 percent over a year earlier to an eleven-year low of USD 1105.2 million, due to lower sales of commodity goods (-45.2 percent), in particular crude oil (-90.7 percent); and manufactured products (-41 percent), namely petroleum derivatives (-84.3 percent), metals (-79.8 percent), and chemicals (-41 percent). Imports plunged 41.3 percent to USD 1171.9 million, its lowest level since April 2009, mainly due to lower purchases of commodities (-16.6 percent), of which industrial (-19.1 percent) and construction materials (-54.9 percent); capital (-51.1 percent), mostly industrial (-42.8 percent), transport equipment (-71.5 percent) and agricultural (-30.7 percent); and consumption goods (-48.2 percent), namely non-durable (-32 percent) and durable (-74.3 percent); and fuels & lubricants (-56.9 percent).
Balance of Trade in Ecuador averaged -24497.41 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 July 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 -750000.00 USD Thousand in 2021 and -620000.00 USD Thousand in 2022, according to our econometric models.