What exports Ecuador to Mexico and vice versa?
The Data México portal indicates that in November 2024, the main product exported by Mexico to Ecuador were the compound or without mixing medications, formulated for therapeutic or prophylactic use, with a value of 5.06 million dollars. Exports to Ecuador mainly came from Mexico City (12.7 MDD), the State of Mexico (8.26 million pesos) and Jalisco (3.95 million pesos).
On the other hand, the product most imported by Mexico from Ecuador in that same month were the articles of confectionery without cocoa and white chocolate, with a value of 1.34 million dollars. The main receiving states of these imports were Chihuahua (2.73 million pesos), Jalisco (2.55 million pesos) and Mexico City (890 thousand dollars).
Mexico also buys to Ecuador the preparations and preserves of fish; Caviar and its substitutes prepared with fish roe, with a value of 14.7 million dollars.
Mexico and Ecuador have tried to strengthen their commercial relationship. In this administration they began to negotiate a free trade agreement when Guillermo Lasso was in power; However, he was stuck, because López Obrador’s government refused to include shrimp and banana.
With the breakdown of diplomatic relations with Daniel Noboa in the presidency of Ecuador, who took power in 2023, it becomes difficult to specify this commercial agreement.
What is Ecuador’s participation in the FDI in Mexico?
Between January and September 2024, Foreign Direct Investment (FDI) of Ecuador in Mexico added 5.63 million dollars, distributed in accounts between companies (4.89 million dollars) and new investments (742 thousand dollars).
From January 1999 to September 2024, Mexico has received a total of $ 137 million in FDI in Ecuador, distributed in new investments (107 million dollars), accounts between companies (19 MDD) and reinvestment of profits (11.1 MDD) , according to data from the Ministry of Economy.
Remittances from Ecuador
In the third quarter of 2024, Mexico received $ 13.6 million in remittances from Ecuador, while Ecuador received 4.65 million pesos in remittances from Mexico.
