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Export Market

Ecuador

ISO: EC / ECU

Country Profile

Capital Quito
Population 18.1M
GDP $124.7B (2024)
GDP per Capita $6,875
Income Level Upper-Middle Income
Currency United States dollar (USD $)
Language Spanish
Timezone UTC-06:00
Region South America

Trade Partners

Ecuador Exports To

  • USA 22.0%
  • China 21.0%
  • Panama 12.0%
  • Japan 3.0%
  • Peru 3.0%

Key exports: crude petroleum, shellfish, bananas, fish, gold (2023)

Ecuador Imports From

  • USA 27.0%
  • China 20.0%
  • Colombia 7.0%
  • Brazil 4.0%
  • Peru 4.0%

Key imports: refined petroleum, coal tar oil, cars, packaged medicine, plastics (2023)

Economic Overview

highly informal South American economy; USD currency user; major banana exporter; hard hit by COVID-19; macroeconomic fragility from oil dependency; successful debt restructuring; China funding budget deficits; social unrest hampering economic activity

Government: presidential republic

UK Trade Status

FTA in Force

The UK has a free trade agreement with Ecuador, providing preferential market access for UK exporters.

Trade Barriers

4 active barriers affecting UK exporters

Regulation on pricing of branded medicines in Ecuador

National regulations require fixed pricing for strategic medicines that the government plans to purchase, but it also applies to products entering the private market first. The pricing method is based on the 3 lowest fixed prices from other countries, without …

Sectors: Pharmaceuticals and biotechnology

Reported: 28 Mar 2025

Ineffective health technology assessment (HTA) procedures for innovative medicines in Ecuador

Ecuador's HTA processes lack coordination and predictability due to decentralised management of these. This harms UK pharmaceutical exports by undermining the adoption of innovative and cost-effective UK drugs in the Ecuadorean health system.

Sectors: Healthcare services, Medical devices and equipment, Pharmaceuticals and biotechnology

Reported: 4 Jan 2023

Inadequate border controls and enforcement of intellectual property rights to fight smuggled and counterfeited products in Ecuador

The illicit trade of spirits and medicines has affected UK businesses in Ecuador by decreasing sales, harming reputation and risking consumer safety. UK government is working with local officials to strengthen Ecuador's capacity to address the issue.

Sectors: Food and drink, Pharmaceuticals and biotechnology

Reported: 19 Jan 2022

Lack of a Double Taxation Agreement between the UK and Ecuador

Double taxation agreements (DTAs) are bilateral agreements between countries that regulate the taxation of income flowing across borders to prevent that income from being taxed twice. A DTA between the UK and Ecuador would aid the improvement of the bilateral …

Reported: 25 Feb 2021

Geographic Region

Latin America and Caribbean

Trading Bloc Memberships

Ecuador is a member of the following trade agreements and economic blocs.

CAN Andean Community Customs Union UK Agreement

Export Guidance

Relevant guidance for exporting to Ecuador.

Start Your Export Journey

Export to the EU after Brexit Start exporting from the UK Manage your export compliance

Also in This Region

🇦🇷 Argentina 🇧🇸 Bahamas FTA 🇧🇧 Barbados FTA 🇧🇿 Belize FTA 🇧🇴 Bolivia 🇧🇷 Brazil 🇨🇱 Chile FTA 🇨🇴 Colombia FTA

Official Resources

Government export support for Ecuador.

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