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Who buys Ecuador’s crude oil? Export destinations 2024

In 2024, Ecuador exported $13.1 billion of crude oil (27.4 million tonnes), 1% of the world total. Its main destinations were Panama (41%), China (23%) and the United States (11%). Ecuador was the world’s 23rd-largest exporter of crude oil.

Summary

Value
$13.1billion
Tonnes
27.4million tonnes
Share of world total
1%
World rank
23rd
Routes to the main destinations. Width: value; color: estimated transport mode.SeaAirLand

Destinations

The 12 main destinations in the latest year.

PartnerValue (USD billions)TonnesUSD per tonneShareMode
Panama5.3Tonnes: 11,714,386USD per tonne: $45340.6%Sea
China3Tonnes: 5,678,949USD per tonne: $52622.8%Sea
United States1.5Tonnes: 3,761,571USD per tonne: $38611.1%Sea
Peru1Tonnes: 1,958,481USD per tonne: $5267.9%Land
Japan0.91Tonnes: 1,743,501USD per tonne: $5216.9%Sea
Chile0.55Tonnes: 1,123,970USD per tonne: $4904.2%Sea
Canada0.51Tonnes: 817,363USD per tonne: $6283.9%Sea
South Korea0.17Tonnes: 306,853USD per tonne: $5621.3%Sea
India0.11Tonnes: 184,649USD per tonne: $5990.85%Sea
Singapore re-exports0.05Tonnes: 79,893USD per tonne: $5950.36%Sea
Colombia< 0.01Tonnes: 0USD per tonne: $15,2420%Land
Norway< 0.01Tonnes: 0USD per tonne: $2070%Sea

Trend

Who it sells to

Panama has been its main destination since 2023

Value in USD billions. The five largest destinations in 2024.

  • Panama 5.3
  • China 3
  • United States 1.5
  • Peru 1
  • Japan 0.91

Source: CEPII BACI

Show the numbers
Partner19952024
Panama0.115.3
China03
United States0.81.5
Peru0.021
Japan00.91

Sources and methodology

Other products of this country

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), which reconciles what exporters and importers report: countries that stopped reporting (Russia since 2022) appear with their partners’ data. FOB values in current US dollars; tonnes when BACI reports them. The price per tonne is the value of the rows with a weight divided by that weight. The transport mode is our own estimate based on value per kilo and geography. Data up to 2024.

Hong Kong, Singapore, the Netherlands and Belgium re-export goods from other countries: their figures include transit.

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