A slowdown in 2023
C4
HIGH RISK
-
Economic risk
-
Business environment risk
-
Political risk
-
Commercial risk
-
Financing risk
-
Economic risk
-
Business environment risk
-
Political risk
-
Commercial risk
-
Financing risk
Updated in November 2022.
Swipe to view more
GDP | USD106.166bn (World ranking 63, World Bank 2021) |
Population | 17.888mn (World ranking 66, World Bank 2021) |
Form of state | Presidential Republic |
Head of government | Guillermo Lasso (President) |
Next elections | 2025, presidential and legislative |

- Significant oil reserves and unexploited mining resources
- Dollarization of the economy limits transfer and currency risk and anchors inflation
- Recently improved road network

- Dependence on oil production and high vulnerability to global oil prices
- Monetary policy limited by dollarization
- Low level of FX reserves
- Limited access to international capital markets due to successive debt defaults
Trade structure by destination/origin
(% of total, 2021)
Exports | Rank | Imports |
---|---|---|
United States
24.0%
![]() |
1 |
![]() |
China
15.3%
![]() |
2 |
![]() |
Panama
14.9%
![]() |
3 |
![]() |
Chile
4.2%
![]() |
4 |
![]() |
Russian Federation
3.7%
![]() |
5 |
![]() |
Trade structure by product
(% of total, 2021)
Exports | Rank | Imports |
---|---|---|
Petroleum, petroleum products and related materials
32.2%
|
1 |
16.0%
Petroleum, petroleum products and related materials
|
Fish, crustaceans, molluscs and preparations thereof
26.4%
|
2 |
7.8%
Road vehicles
|
Vegetables and fruits
15.9%
|
3 |
6.0%
Medicinal and pharmaceutical products
|
Metalliferous ores and metal scrap
6.1%
|
4 |
4.5%
Feedstuff for animals (excluding unmilled cereals)
|
Coffee, tea, cocoa, spices, and manufactures thereof
3.9%
|
5 |
4.2%
Iron and steel
|
Contacts
Read our latest reports
-
Americas
-
Europe
-
Asia Pacific
-
Middle East
-
Africa