For January of this year, exports reached 30.5 million dollars and imports, 22.2 million. Over time, ups and downs are observed in the commercial exchange of the two nations.
In 2023, the incidence of Ecuador's participation in Mexico's exports was just 0.1%.
And Ecuador's contribution to Mexico's imports is even smaller, because in 2023 it stood at just 0.038%.
What does Ecuador export to Mexico and vice versa?
The Data México portal indicates that the main sale from Mexico to Ecuador in 2023 was medicines, which consist of mixed or unmixed products, preparations for therapeutic or prophylactic uses, with a value of 68.2 million dollars.
After medicines, sales of automobiles and other vehicles designed mainly for the transportation of people, as well as cargo vehicles, follow; these items represent a value of 44.8 million dollars.
And to a lesser extent, malt extract, flour food preparations and mineral water are sold, with 26.1 million dollars
On the other hand, Mexico's main purchase from Ecuador in 2023 was cocoa beans, whole or broken, with a value of 60.8 million dollars.
Mexico also buys prepared and preserved fish from Ecuador; caviar and its substitutes prepared with fish eggs, with a value of 14.7 million dollars.
Mexico and Ecuador have tried to strengthen their trade relationship. In this administration they began to negotiate a free trade agreement when Guillermo Lasso was in power; However, it was stuck, because the López Obrador government refused to include shrimp and bananas.
With the breaking of diplomatic relations with Daniel Noboa in the presidency of Ecuador, who took power in 2023, it becomes difficult to finalize this trade agreement.
What is Ecuador's participation in Mexico's FDI?
Data from the Ministry of Economy indicates that, from January 1999 to December 2023, Mexico has attracted 120 million dollars of Foreign Direct Investment (FDI) from Ecuador.
Of the total of this flow, 84.6 million dollars were new investments; 24.3 million accounts between companies, and 11.1 million reinvestment of profits.
From January to December 2023, FDI from Ecuador to Mexico was 5.4 million dollars, falling 69.6% compared to 2022.
