Ecuador's trade deficit widened to USD 357.7 million in October of 2018 from USD 158.5 million in the same month a year ago. It is the widest monthly trade gap since August of 2017. Exports surged 17.4 percent (vs 16.4 percent in September), mainly nudged by a 36.5 percent jump in oil exports. Meantime, imports soared 26.8 percent, mainly explained by a 66.0 percent advance in gasoline imports, followed by a 26.0 percent jump in purchases of commodities. Meantime, consumption (+16.3 percent) and capital goods (+10.3 percent) rose below average. Balance of Trade in Ecuador averaged -24556.98 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 30000.00 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 -157607.00 in 12 months time. In the long-term, the Ecuador Balance of Trade is projected to trend around 100000.00 USD Thousand in 2020, according to our econometric models.