Ecuador's trade deficit widened to USD 350.3 million in November of 2018 from USD 248.0 million in the same month a year earlier. Imports increased 6.7 percent year-on-year to USD 2015.8 million from USD 1889.3 million in November 2017, boosted by higher purchases of fuels and lubricants (32.8 percent) and commodities (6.8 percent). On the other hand, purchases of consumption goods (-1.4 percent) and capital (-1.5 percent) fell. Exports rose 1.5 percent to USD 1665.5 million from USD 1641.2 million, driven by higher non-oil exports (7.4 percent), namely bananas (22.7 percent), shrimps (13.3 percent) and cacao (22.7 percent) while sales of oil dropped 7.0 percent. Balance of Trade in Ecuador averaged -25357.29 USD Thousand from 1985 until 2018, reaching an all time high of 619602 USD Thousand in May of 2008 and a record low of -729014 USD Thousand in December of 2014.
Balance of Trade in Ecuador is expected to be 120000.00 USD Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Ecuador to stand at -1804000.00 in 12 months time. In the long-term, the Ecuador Balance of Trade is projected to trend around -420000.00 USD Thousand in 2020, according to our econometric models.