Country profile
Ecuador
A dollarised economy and the world's largest exporter of farmed shrimp and bananas, also exporting oil and cocoa.
Updated 11 November 2026. Sources at the bottom of the page.
- Capital
- Quito
- Population
- 18.2 million (2026)
- Currency
- US dollar (USD)
- GDP, 2026
- US$138 billion
- Exports, 2025
- US$37.2 billion
- Exchange rate
- Uses the US dollar
Economy
IMF World Economic Outlook, October 2026. 2026 and 2027 are IMF projections.
2.7%Real GDP growth, 2026
2.5%Real GDP growth, 2027
2%Inflation, 2026
3.1%Unemployment, 2026
4.6% of GDPCurrent account, 2026
Compare Ecuador with other countries →
Trade
Top export markets
Share of the country’s exports, 2025
- United States (18.6%)
- Panama (17.3%)
- China (16.1%)
- Netherlands (4.3%)
- Spain (3.4%)
Main exports
Product groups, share of exports
- Fish and seafood, mainly shrimp (23.7%)
- Mineral fuels, mainly crude oil (20.9%)
- Fruits, mainly bananas (13%)
- Cocoa (12.6%)
- Ores and concentrates (8.1%)
Main trade agreements
- EU–Colombia, Peru and Ecuador Trade Agreement
- China–Ecuador Free Trade Agreement (in force 2024)
- Andean Community
- UK–Andean countries Trade Agreement
Trade policy to watch
- Dollarisation: Ecuador uses the US dollar, so there is no currency risk against the dollar.
- Port security: drug trafficking has led to more container inspections at Guayaquil and other ports, which can add delays.
- Power shortages: drought cut hydropower in 2024 and caused long daily blackouts.
Energy
Hydropower produces most of Ecuador's electricity, so droughts can cause power cuts. Ecuador produces oil for export but imports refined fuels.
What it means for your supply chain
- Ecuador is a key source of shrimp, bananas, cocoa and cut flowers.
- Allow extra time for container inspections at Ecuadorian ports.
- Ask suppliers about backup power for dry seasons.
Sources
- IMF, World Economic Outlook, October 2026: GDP, growth, inflation, unemployment, government debt, current account (2026 and 2027 are projections; updated automatically).
- IMF, World Economic Outlook database: population (2026 estimate).
- Trading Economics, based on UN Comtrade data: export markets and main exports; shares calculated from the listed values.
- Ecuador uses the US dollar.
- Energy Institute, Statistical Review of World Energy 2026: energy profile.
Figures are the latest published at the time of the update and may since have been revised. This page is for general information, not investment or legal advice.