Ecuador’s January 2024 Exports Dropped to 89,210 MT, 6% Down Year-on-Year

Ecuador’s exports in January 2024 reached 89,211 MT, 6% less than in January 2023. The value of exports dropped by 17% year-on-year to $432 million. Looking at the main export destinations, we see a more balanced perspective.

While Ecuador’s exports to China were down by 14%, Ecuador’s exports to its other two major markets, the US and the EU, were up by 4% and 3%, respectively. Exports to smaller destinations grew even more. Examples are ‘Other Asia’ with 21% growth, ‘other Europe’ with 11% growth, and ‘Latin America’ with 27% growth.

While the total export volume is down, this change in markets means that relatively more HLSO and peeled products have been exported, and therefore, the live weight equivalent of exports will have been relatively stable. This situation reconfirms that Ecuador’s shrimp production remains stable. China remains its preferred market. If China’s demand drops, Ecuador’s exporters will increase sales of HLSO and peeled products to the US and Europe.

In China, the average value per kilogram in January 2024 was $4.43, 16% lower than in January 2023 but 2% higher than in December 2023. The average value per kilogram in the US in January 2024 was $5.77, 10% below January 2023 and 2% below December 2023. In the EU, the average value per kilogram in January 2024 was $5.66, down 14% compared to January 2023 but up 3% compared to December 2023.