Ecuador’s Export Surge Fuels Record Trade Surplus in February
Ecuador recorded a $512.6 million trade surplus in February 2025, marking 14 consecutive months of positive balances, driven by a 30% annual surge in non-oil exports.
The Federation of Ecuadorian Exporters (Fedexpor) reported total exports reached $2.98 billion, with non-oil sectors like shrimp, cacao, and bananas accounting for 67% of shipments.
Shrimp exports alone hit $1.23 billion, though Chinese demand fell 20% due to economic stagnation, offset by 39% growth in U.S. shipments and 41% to the EU. Cacao exports skyrocketed 194% to $880 million, fueled by record global prices, while banana sales rose 3% to $664 million.
The U.S. remained Ecuador’s top market, importing $1.12 billion in non-oil goods, though new 10% tariffs on shrimp effective April 2025 threaten future growth.
Imports grew 17.5% to $2.47 billion, driven by fuel and machinery purchases for agriculture and aquaculture expansion. Ecuador’s trade resilience stems from diversifying beyond oil, which contributed just $319 million to the surplus.
The China-Ecuador free trade agreement, effective May 2024, aims to gradually reduce tariffs but has yet to reverse declining shrimp sales to Beijing.
Domestic uncertainties loom as April 2025 elections could shift trade policies, while Fedexpor pushes for a U.S. free trade deal to secure long-term stability.
With non-oil exports projected to grow 3% in volume this year, Ecuador’s economy leans on value-added goods to counter volatile commodity markets and geopolitical headwinds.
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