- China and Ecuador have signed an FTA to enhance bilateral trade.
- While Chinese apparel exports to Ecuador in 2022 remained stagnant at $66.969 million, there was an increase in exports of home textiles to $39.583 million.
- The trade data indicates a decline in apparel exports from China to Ecuador in previous years, followed by recovery in 2021 and 2022.
Chinese apparel exports to Ecuador were $66.383 million in 2018, declining to $63.045 million in 2019. The trade experienced a sharp fall in 2020 due to disruptions caused by the COVID-19 pandemic, reaching $46.329 million. It recovered to $50.338 million in 2021 and further increased to $66.969 million in 2022, approaching the level of five years ago, according to Fibre2Fashion’s market insight tool TexPro.
Chinese exports of home textiles to Ecuador surged six times in 2020, reaching $129.539 million from $20.543 million in 2019. However, it decreased to $55.640 million in 2021 and further dropped to $39.583 million in 2022. Despite the significant increase compared to 2018, it represented less than one-third of the peak shipment in 2020.
Ecuador's total apparel exports from the world amounted to $299.453 million in 2022, with China being the largest supplier, accounting for 32.19 per cent. However, Ecuador remains a relatively small market for China's massive apparel exports, representing only 0.04 per cent of China's total shipment valued at $167.382 billion in 2022, as per TexPro.
Fibre2Fashion News Desk (KUL)