Overview
Bilateral agricultural and related product (including biodiesel, forest, and seafood products) trade between the United States and Ecuador rose to $4.5 billion in 2022, with increases in sales for both countries. The agricultural and related product trade balance remained significantly beneficial for Ecuador in 2022, increasing by four percent to a trade deficit of $2.9 billion for the United States. This is primarily driven by an increase of shrimp exports, which represent 53 percent of agricultural and related products imported by the United States from Ecuador ($1.8 billion). However, the trade deficit of just agricultural products decreased 12 percent to $825 million, representing a two-to-one trade ratio in favor of Ecuador.
Exports of U.S. agricultural and related products to Ecuador in 2022 totaled a record $741.4 million, up $165.7 million or 29 percent compared to 2021. This growth was driven primarily by Ecuadorian demand for U.S. bulk, intermediate, and consumer-oriented products (mainly wheat and soybean meal).
Trade Data
| Table 1: Total Agricultural Prodution: 2019-2023 (est) | |||||
| In Millions (USD) | 2019 | 2020 | 2021 | 2022 | 2023 (EST) |
| Total Ag. Production* | $8,370,676 | $8,683,746 | $8,692,343 | $8,713,905 | $2.378,479 (T1) |
| Total Ag. Exports** | $11,835 | $12,573 | $14,098 | ||
| Total Ag. Imports** | $2,565 | $2,524 | $3,421 | ||
| Imports from US*** | $474 | $509 | $575 | $741,4 | $426 |
| Exports to US*** | $1,106 | $1,271 | $1,437 | $1,543 | $913 |
*Total Agricultural Production: Central Bank of Ecuador (Valor Agregado Bruto Por Industrias, PIB).
**Agricultural Import and Export Values from stats.wto.org: SI3_AGG – AG Agricultural Products Sector. Data unavailable for 2022 and 2023.
***Global Agricultural Trade System (GATS): FAS Agricultural Total
Resources
- Foreign Agricultural Service Import Regulations and Standards Report
- Foreign Agricultural Service Exporter Guide
Bulk Agricultural Products
Despite continued economic constraints, U.S. exports of bulk products increased 59 percent by value, which was principally the result of an increase in imports of wheat and cotton. This growth is driven by Ecuadorian demand for U.S. bulk and intermediate products (e.g., wheat, soybean meal, and feed & fodders).
Table 2: Export Value in Bulk Agricultural Products (2022)
| Product | U.S. Export Value (USD) | Percent Growth 2021/2022 |
| Total bulk products | $168 million | 59% |
| Wheat | $112.4 million | 55% |
| Cotton | $30 million | 22% |
Source: Ecuador: Agricultural Trade Between United States and Ecuador Reaches New Highs 03.02.2023
Opportunities
Growing opportunities in Ecuador exist for U.S. companies across all product categories that saw success in 2022, as well as others that were primarily impacted by economic and political constraints. Other successful categories from last year were soybeans, vegetables, bakery goods, cereals and pasta, distilled spirits, other intermediate products, dairy products, beer, processed vegetables, pet foods, and fresh vegetables.
Resources
Intermediate Agricultural Products
Imports of U.S. intermediate products grew 23 percent thanks to soybean meal, feeds and fodders, and distillers dried grains with soluble (DDGS). Imports of consumer-oriented products were up almost eight percent thanks to several categories that reached record numbers. U.S. soybean meal reached a historical export value of $318 million, an 18 percent increase compared to 2021. This increase has a direct relation to the growing shrimp production industry in Ecuador. The growth of the feed meal and milling sectors in Ecuador also positively impacted trade, reaching records export values for wheat ($112.4 million), other feeds, meals, and fodders ($79.5 million), and DDGs ($22.9 million).
Table 3: Export Value in Intermediate Agricultural Products (2022)
| Product | Export Value | Percent Growth 2021/2022 |
| Total Intermediate Products | 23% | |
| Soybean Meal | $318 million | 18% |
| Other Feeds, Meals, & Fodders | $79.5 million | 26% |
| Distillers dried grains with soluble DDGS | $22.9 million | 124% |
Source: FAS Agricultural Trade Between United States and Ecuador Reaches New Highs 3-02-2022
Opportunities
Intermediate agricultural categories will continue to offer good potential into 2024.
Resources
- Foreign Agricultural Service Record Bilateral Trade Report
- Foreign Agricultural Service Exporter Guide
Consumer-Oriented Agricultural Products
Ecuadorian imports of consumer-oriented food and agricultural products in 2022 reached US$ 1.1 billion. Supermarket chains are the primary importers of food products with major supermarket chains accounting for 60 percent of total food sales. Supermarkets allocate, on average, 18 percent of shelf space to imported goods. Exporters of U.S. food and agricultural products should contact large importers or supermarket chains directly. Imports and demand for imported food goods make up a large sector of Ecuadorian food consumption.
Table 4: Record Export Value in Consumer-Oriented Products (2022)
| Product | Export Value | Percent Growth 2021/2022 |
| Total consumer-oriented | $1.1 billion | 15.8% |
| Bakery goods, Cereal, Pasta | $9.5 million | 37% |
| Distilled spirits | $8.4 million | 30% |
| Beer | $5.2 million | 235% |
| Processed Vegetables | $2.8 million | 74% |
| Pet foods | $1.4 million | 88% |
Source: FAS Agricultural Trade Between United States and Ecuador Reaches New Highs 3-02-2022
Table 5: Non-Record Export Value in Consumer-Oriented Products (2022)
| Product | Percent Growth 2021/2022 |
| Sweeteners | 14% |
| Confectionery | 59% |
| Non-Alcoholic Beverages | 9% |
| Nursery Products | 41% |
Cut Flowers Poultry Meat and Products | 41% 44% |
Source: FAS Agricultural Trade Between United States and Ecuador Reaches New Highs 3-02-2022
Opportunities
Opportunities within the consumer-oriented product sector are numerous and growing.
Table 6: Best Consumer-Oriented Product Prospects
| Product Category | 2021 Import Sales | 5-Yr. Avg. Annual Import Growth Volume | Key Constraints Over Market Development | Market Attractiveness for USA |
| Fresh Fruits | $ 111.1 million | 2.5% per annum | Chile benefits from lower tariffs and shipping proximity. | Rising demand for fresh fruits. U.S. export window is during Chile’s off -season.
|
| Processed Fruits and Nuts | $ 61.4 million | 5.1% per annum | Chilean suppliers
| Demand is growing. Importers are interested in different types of nuts. |
| Chocolate | $ 47.8 million | 10.7% per annum | Local production, especially of dark chocolate is up.
| Un-met demand for product diversity. U.S. brands are well known. |
| Sugar Confectionery Products | $34.7 million | 0.2% per annum | Colombia benefits from competitive prices and shipping proximity.
| Growing demand for elaborate confectionary products. Local sugar prices are high. |
| Bakery Products, Noodles, and Pasta | $ 73.6 million | 6.7% per annum | Competitors include Andean Community and EU countries, benefit from trade agreements
| Demand for specialized products that do not exist in the region. |
| Teas and Infusions | $ 3.2 million | 6.8% per annum | Strong local and EU competition. | The United States is a traditional supplier of teas and infusions. |
| Processed Vegetables (mainly frozen) | $ 38 million | 2.5% per annum | Lack of cold chain infrastructure. Quality misperceptions. | Shipping proximity. Nascent demand.
|
| Condiments and Sauces | $ 16.6 million | 14% per annum | Local competition at lower price | Quality and diversity of U.S. products
|
| Precooked, ready-to-eat frozen meals | N/A | Immature Market | Local production increasing. Quality misperceptions. | Demand for greater product diversity and shipping proximity. Nascent demand.
|
| Specialty Beers | $ 24.4 million | 38.5% per annum | Local production. EU benefits from trade agreement. | Strong importer interest for alternative, non-pilsner beer styles.
|
Spirits and Liqueurs | $34 million | 24.4% per annum | UK brands are well established. EU benefits from trade agreement. | Strong demand for spirits. Shipping proximity. Strong interest in importing as bulk to be bottled locally |
| Dog and Cat Food | $16.3 million | 7.2% per annum | Local competition by large feed corporations | Demand for Specialized and high-end products not produced locally |
Source: FAS Exporter Guide 12-16-2022
Resources
- Foreign Agricultural Service Record Bilateral Trade Report
- Foreign Agricultural Service Exporter Guide