Ecuador is a diversified South American nation that shares borders with the Pacific Ocean to the west, Peru to the south and east, and Colombia to the north. It is well-known around the world for its oil-rich economy and tropical biodiversity. Quito is the nation's capital, and Guayaquil is the biggest and busiest city in terms of commerce. As per Ecuador export data, it is estimated that Ecuador's GDP will reach USD 123.5 billion in 2024. Ecuador is the world's 69th-largest exporter, according to the most recent global trade figures. With a sizeable portion of Ecuador's overall exports, the United States is the largest buyer of Ecuadorian commodities.
It is anticipated that Ecuador will export commodities valued at around USD 38.6 billion in 2024. The fact that crude petroleum is still the most exported good shows how important oil is to the nation's economy. In addition to oil, as per Ecuador trade data, Ecuador exports a range of marine and agricultural goods, mostly to Asia, Europe, and North America. Through free trade agreements and ongoing investments in export infrastructure, the country has strengthened its international trading ties.