European Union Market Fuels Ecuador's Growth in Non-Oil, Non-Mining Exports

2026-01-23

Between January and November 2025, non-oil, non-mining exports solidified their role as Ecuador's primary source of foreign exchange. According to a report by the Ecuadorian Federation of Exporters (Fedexpor), published on January 19, 2026, these exports totalled $22.992 billion, reflecting year-on-year growth of 18%. They accounted for 68% of the country's total exports.

This strong performance resulted in a total trade surplus of $5.796 billion, with a favourable balance of $4.644 billion in non-oil, non-mining exports. FedExpor emphasised that this sector has emerged as Ecuador's leading source of foreign exchange.

The European Union has become Ecuador's largest export market. From January to November 2025, shipments to the EU surged by a record 22%, amounting to $6.084 billion. Key exports to the European market included shrimp, cocoa beans, bananas, canned tuna, and flowers.

The United States ranked second largest, with exports valued at $5.504 billion, an impressive 33% increase. China secured third place with exports totalling $3.583 billion. Together, these three markets comprised 66% of the value of the non-oil, non-mining expo.

Shrimp remained Ecuador's top non-oil, non-mining export product, with $7.685 billion in exports, a 20% increase, reinforcing its status as a key contributor to foreign exchange earnings.

Cocoa and cocoa products ranked second in terms of exports, with $4.257 billion, a 21% increase driven by international demand. Bananas and plantains recorded exports of $3.861 billion, a 7% increase, maintaining their position among traditional products widely present in foreign markets. Xavier Rosero, president of FedEx, estimates that the increase in non-oil exports by the end of 2025 will contribute an additional $3.5 billion to the economy. However, 2026 is expected to be more challenging, characterised by geopolitical volatility and a slowdown in international demand.

In this uncertain global landscape, Rosero noted that the export sector must prioritise strategy over sustained value growth.