What is the trade balance between Ecuador and the Dominican Republic?

Between 2016 and 2023, the exchange commercial between Ecuador and the Dominican Republic amounted to 942.7 million dollars, resulting in a balance commercial favorable for the South American country with an export value to the DR of 775.3 million dollars. While the value of the exports dominican was 167.4 million.

Within the framework of this scenario, efforts are being carried out to finalize a agreement commercial between both nations.

Of agreement to the date of ProDominicanathe exports dominican to Ecuador have shown a growth average of 14.5% annually. In 2023, the value of these exports It was 26.3 million dollars, 15.3% more than the 22.8 million reached in 2022.

• The medicationsespecially those prepared for therapeutic use, led the exports with 8.0 million dollars, followed by mixtures of odorous substances and other products that added up to a significant total.

On September 23, 2024, presidents Luis Abinader and Daniel Noboa announced the start of talks for a Trade Agreement Partial Scope. This agreement seeks to strengthen exchanges commercial and investments, in continuity with the Memorandums of Understanding previously signed.

The talks will be carried out respecting national laws and seeking to protect sensitive sectors.

Both countries commit to working on integration commercial to benefit their people. The signature of Memorandum of Understanding in 2020 had already laid the foundations for this collaboration, focusing on promoting trade and job creation.

With the aim of diversifying and deepening the relationships commercial, Ecuador is in a process of opening to the world, establishing strategic agreements that include talks with the Dominican Republic, Costa Rica, and the United States, among others.

This agreement commercial Not only does it represent an opportunity to improve the exportsbut also to foster a more robust investment environment between both countries, which is estimated to benefit their economies and strengthen ties between their peoples.

Present commercial

So far in 2024, the Dominican Republic registers exports toward Ecuador valued at 14.4 million dollars, -20.2%, compared to the same period in 2023. The absolute variation was 3.7 million dollars.

Until August 2024, the imports dominican from Ecuador They amount to 99.3 million dollars, for a drop of 2.4%.

The main imported product is tobaccoundeveined or deveined, with 46.6 million dollars; followed by gold, including platinum goldsemi-tilled, for non-monetary use (10.9 million dollars); “demijohn” cylinders, bottles, flasks, jugs, jars, tubular containers and other containers (4.3 million) and lead accumulators (4.0 million dollars), among other products.

Agreements commercial from the Dominican Republic

1. DR-Cafta: Free Trade Agreement between the Dominican Republic, Central America and the United States of America. (Dominican Republic – Central America Free Trade Agreement, for its acronym in English).
2. EPA: Economic Partnership Agreement.
3. Central America FTA: Central America – Dominican Republic Free Trade Agreement.
4. Caricom FTA: Dominican Republic – Caribbean Community (Caricom) Free Trade Agreement.
5. AAPP: Partial Scope Agreement with Panama.
6. AAE Cariforo – United Kingdom: Ratification of the Economic Partnership Agreement (EPA), with the Member States of Cariforo and the United Kingdom.