February 2026
109 articles
$273M in Ecuadorian Exports at Risk as Colombia's Retaliatory Tariffs Hit 580 Companies — Palm Oil Sector Bears Heaviest Blow
Nearly $273 million in annual Ecuadorian exports are at immediate risk from Colombia's retaliatory 30% tariff, according to data compiled by UPI and Fedexpor. The trade federation reports that 580 Ecuadorian companies face direct exposure, with the palm oil sector absorbing the heaviest blow at $96 million per year. Colombian importers have already begun sourcing replacements from China, Brazil, and Mexico — a substitution dynamic that threatens permanent market share loss even after tariffs are eventually lifted.
Ecuador-UAE CEPA Reaches Technical Closure — 98% of Products Enter at 0% Tariff, Signature Expected March 2026
Ecuador and the United Arab Emirates concluded technical negotiations on a Comprehensive Economic Partnership Agreement (CEPA) covering 98% of Ecuadorian products at zero tariff, with formal signature expected in March 2026. Fedexpor estimates non-petroleum exports to the UAE could grow 30% annually once the agreement takes effect, with the market potentially absorbing $1 billion in Ecuadorian goods by 2030. The deal positions Ecuador ahead of regional competitors in accessing Gulf Cooperation Council markets.
Ecuador's International Reserves Hit All-Time Record $11.86 Billion — 35% Held in Gold Above $4,300/oz, Strengthening Dollarization Foundation
Ecuador's international reserves reached an all-time record of $11.858 billion as of February 16, 2026, according to Central Bank (BCE) data — a 37.9% increase year-over-year and the highest level in the country's 25-year dollarization history. Approximately 35% of reserves are held in gold, valued at an estimated $4.15 billion as gold prices surpass $4,300 per ounce. The reserve buffer significantly strengthens Ecuador's capacity to absorb external shocks from the ongoing Colombia trade dispute and new US Section 122 tariffs.
Lundin Gold Commits $100M for 133,000-Meter Drilling Program — Largest Single-Year Exploration Investment in Ecuador's Mining History
Lundin Gold announced its largest-ever exploration program — $100 million and 133,000 meters of drilling in 2026 — focused on extending the life of its high-grade Fruta del Norte gold mine in Zamora Chinchipe province. The investment represents the largest single-year exploration commitment by any mining company in Ecuador's history. A development decision on the Fruta del Norte South deposit is expected in H1 2026, with annual gold production guidance maintained at 475,000-525,000 ounces through 2028.
National Assembly Passes Local Government Spending Law 77-0 — Mandates 70/30 Investment-to-Current Spending Split Across $3.65 Billion in Subnational Budgets
The National Assembly approved President Noboa's urgent economic bill with 77 votes and zero opposition, mandating that Ecuador's 221 municipalities and 23 provincial governments allocate at least 70% of their budgets to public investment, capping current spending at 30%. The law affects approximately $3.65 billion in subnational fiscal resources and is designed to redirect local government spending from payroll and administrative costs toward infrastructure, public works, and development projects.
Construction Sector Posts $2.45 Billion and 8% Growth in 2025 — Government's Miti-Miti Mortgage Program Set to Double Lending Volume in 2026
Ecuador's construction sector generated $2.45 billion in output during 2025, posting 8% year-over-year growth after 27 consecutive months of contraction. The recovery is driven primarily by the government's 'Tu Casa Miti-Miti' mortgage program, which offers subsidized interest rates of 4.87-4.99% — well below market rates of 9-11%. Vice Minister of Housing Daniel Elmir projects that mortgage lending under the program will double in 2026 as coverage expands to secondary cities beyond Quito and Guayaquil.
Colombia Cuts Electricity Exports to Ecuador as Tariff Dispute Strains Andean Energy Integration — Dry Season Grid Stability at Risk
Colombia has suspended electricity exports to Ecuador in retaliation for Ecuador's 30% security tariff on Colombian imports, threatening grid stability during the March-September dry season when hydroelectric generation — which provides 75% of Ecuador's power — typically drops 20-30%. The energy cut adds a third front to the bilateral dispute, alongside Colombia's reciprocal trade tariffs and its 900% increase in OCP crude oil pipeline transit fees. Ecuador imported approximately 500-800 GWh from Colombia in 2025, and the loss of this supply buffer comes as the country is still recovering from the 2024 blackout crisis.
Government to Tender 2,100 MW Across Three Power Projects in 2026 — Including 1,500 MW Solar Mega-Plant in Zapotillo That Would Rank Among Latin America's Largest
Ecuador's Energy Ministry announced plans to tender three major power generation projects in 2026 totaling 2,100 MW: a 400 MW natural gas combined-cycle plant, a 200 MW solar photovoltaic facility in Santa Elena, and a 1,500 MW solar mega-park in Zapotillo, Loja province. The combined investment pipeline is estimated at $2.5-3 billion and represents Ecuador's most aggressive energy diversification push since the 2016 hydroelectric expansion, directly addressing the grid vulnerability exposed by the 2024 blackout crisis.
Ecuador Cocoa Exports Projected to Exceed 623,000 Metric Tons in 2026 — Country on Track to Surpass Ghana as World's #2 Producer
Ecuador's National Cocoa Exporters Association (ANECACAO) projects cocoa exports will exceed 623,000 metric tons in 2026, a 11.3% increase from 2025's 560,000 MT. The volume surge positions Ecuador to surpass Ghana as the world's second-largest cocoa producer in the 2025/26 season. However, the export growth coincides with international cocoa prices crashing below $3,100/MT — a 65% decline from the $9,000/MT peak in April 2025 — creating a volume-up, revenue-down dynamic that threatens farmer incomes.
89 Mining Concessions Suspended Across Napo, Loja, and El Oro in One Week — Environmental Enforcement Crackdown Intensifies Under Noboa
Ecuador's Ministry of Environment and Energy suspended 89 mining concessions and shuttered 54 mineral processing plants across Napo, Loja, and El Oro provinces in a single-week enforcement operation. The crackdown — targeting operations that lack environmental licenses, exceed permitted boundaries, or fail to comply with water protection regulations — signals the Noboa administration's dual approach of aggressively courting international mining investment while demonstrating environmental governance credentials to satisfy ESG-conscious investors and multilateral lenders.
SCOTUS Strikes Down IEEPA Tariffs 6-3, Trump Signs 15% Global Surcharge Under Section 122 — Ecuador's $6.6B Export Channel Faces New Uncertainty
The US Supreme Court ruled 6-3 on February 20, 2026 that IEEPA-based tariffs are unconstitutional, immediately invalidating the existing reciprocal tariff framework. President Trump signed a 10% global tariff under Section 122 of the Trade Act within hours, escalating it to 15% the following day. Ecuador — which exported $6.6 billion to the US in 2025, up 30.3% year-over-year — faces a recalibrated trade landscape where shrimp exporters alone ship approximately $20 million per month to American buyers.
Ecuador Files 3 Counter-Complaints Against Colombia at CAN General Secretariat, Escalating Andean Trade Dispute to Full Institutional Battle
Ecuador's Ministry of Production (MPCEIP) filed three formal complaints with the Andean Community (CAN) General Secretariat, arguing that its 30% 'security tariff' on Colombian imports is a legitimate national security tool permitted under Andean trade rules. The filing directly counters Colombia's legal challenge and escalates a bilateral dispute that has already seen Colombia retaliate with a 900% increase in pipeline transit fees, threatening $2.3 billion in annual bilateral trade.
Fedexpor Warns Colombia Actively Replacing Ecuador Suppliers With Chinese, Brazilian, and Mexican Alternatives — Signals Permanent Market-Share Loss Risk
Fedexpor president Xavier Rosero warned at a Guayaquil industry event that Colombia is actively sourcing from China, Brazil, and Mexico to replace Ecuadorian suppliers disrupted by the bilateral tariff dispute. Despite record non-oil exports of $29.4 billion in 2025 with 18.3% growth, Fedexpor projects 2026 growth will decelerate sharply to 6-7%, with the Colombia substitution dynamic posing a risk of permanent market-share loss rather than temporary trade disruption.
Ecuador Business Lending Rates Fall Up to 2.89 Percentage Points Year-Over-Year as Improved Sovereign Confidence Frees Domestic Liquidity
Ecuador's business lending rates have fallen by up to 2.89 percentage points year-over-year, with corporate rates declining from 9.33% to 7.54%, business rates from 11.92% to 9.03%, and SME rates from 11.04% to 9.67%. The Ministry of Finance attributes the rate compression to improved international confidence that has reduced sovereign borrowing needs in the domestic market, freeing liquidity for private sector credit expansion following Moody's upgrade and a $4 billion international bond sale.
Cocoa Prices Crash Below $3,100/Ton From Record Highs as 287,000-Tonne Global Surplus Emerges — Ecuador Positioned to Become World's No. 2 Producer
Global cocoa prices have crashed below $3,100 per metric ton, a dramatic reversal from the record highs of 2024-2025, driven by a projected 287,000-tonne global production surplus. Ecuador stands to benefit from the supply rebalancing: with yields of 800 kg/ha versus Ghana's 400 kg/ha and projected output exceeding 650,000 MT in 2026/27, the country is on track to overtake Ghana as the world's second-largest cocoa producer — though lower prices per ton will partially offset the volume gains.
Israeli FM Gideon Saar Makes Historic Ecuador Visit, Launches Formal Trade Negotiations and Signs Security Cooperation Pact in Guayaquil
Israeli Foreign Minister Gideon Saar visited Guayaquil in what officials described as the first visit by an Israeli foreign minister to Ecuador, launching formal trade negotiations and signing a security cooperation agreement. The visit is part of Israel's declared strategy of making 2026 its 'year of Latin America,' potentially opening a new market for Ecuadorian agricultural and commodity exports within Israel's approximately $20 billion Latin American trade relationship.
Ecuador Vehicle Sales Surge 37% in January to Best Month in 5 Years — EVs and Hybrids Reach 22% Combined Market Share With Chinese Brands Dominant
Ecuador's vehicle market recorded 11,342 units sold in January 2026, a 37% year-over-year increase and the best January in five years according to AEADE data. Electrified vehicles captured 22.2% of the market — 5.4% pure electric and 16.8% hybrid — with Chinese brands dominating the EV segment. However, the ANT's corruption investigation has suspended parts of the vehicle registration system, creating a potential drag on near-term sales momentum.
Ecuador's Export Sector Absorbs $525 Million/Year in Security and Redundant Port Inspection Costs, Creating Hidden Competitiveness Drag
Ecuador's export sector absorbs approximately $525 million per year in security and port inspection costs, according to Fedexpor president Xavier Rosero. Private security accounts for $400-425 million while redundant narcotics inspections — where containers are X-ray scanned at $50 then physically opened up to three more times at $200 each — add another $100 million. The costs represent a hidden competitiveness drag that compresses exporter margins despite record $29.4 billion in non-oil exports.
IMF Completes Fourth Extended Fund Facility Review, Approves $630 Million Disbursement as Ecuador's Recovery Outpaces Expectations
The International Monetary Fund completed the fourth review of Ecuador's Extended Fund Facility arrangement, approving an immediate disbursement of approximately $630 million. The IMF noted the economy is 'recovering much faster than anticipated,' with all quantitative performance criteria met and the fiscal deficit narrowing to just 0.7% of GDP in 2025 — well ahead of the consolidation path.
National Assembly Votes 148-0 to Censure Judiciary Chief Mario Godoy After Resignation Gambit Fails, Two-Year Public Office Ban Imposed
The National Assembly voted 148-0 to censure and dismiss Mario Godoy as president of the Consejo de la Judicatura, imposing a two-year ban on holding public office. Godoy resigned just one hour before the political trial was set to begin, but the Assembly proceeded regardless, citing allegations of 'manifest negligence' and pressure on an anticorruption judge to favor a detained Serbian narcotrafficker.
Noboa Unveils Anti-Extortion Plan With QR Code Business Monitoring System as 85% of Gang Leaders Captured but Judicial Bottleneck Stalls Prosecutions
President Daniel Noboa announced a comprehensive anti-extortion plan that includes a QR code-based monitoring system for small businesses, the sector most affected by organized crime. While noting that 85% of gang leaders have been captured since the internal armed conflict declaration, Noboa acknowledged a critical prosecution bottleneck: only 10,000 of 150,000 detained individuals have been judicially processed, prompting calls for judicial system restructuring.
Ecuador's $1.2 Billion Tuna Export Sector Faces Price Pressure as Abundant Yellowfin Catches Collide With Global Skipjack Scarcity and Thai Reference Pricing
Ecuador's tuna industry, the world's largest exporter at 17% of global trade and $1.2 billion in annual revenue, faces downward pricing pressure despite abundant yellowfin catches in the Eastern Pacific. Persistent global skipjack scarcity continues to allow Thailand to set reference prices, creating a two-speed market that compresses margins for Ecuadorian processors and fleet operators.
Consortium Named Top Bidder to Nearly Double Termogas Machala Capacity From 230 MW to 430 MW, Strengthening Grid After 2024 Blackout Crisis
A consortium has been identified as the top bidder to support the revamp and expansion of the Termogas Machala natural gas-fired power plant from 230 MW to 430 MW. The project, located in El Oro province on Ecuador's southern coast, will nearly double the plant's capacity using gas from the Amistad field in the Gulf of Guayaquil, providing critical baseload power as the country recovers from the 2024 energy crisis.
Corporacion America Airports Secures 6-Year Extension for Galapagos Seymour Airport Through 2032, Terminal Charge Rises to $31.18 Per Passenger
Corporacion America Airports secured a six-year extension for the Seymour Airport concession on Baltra Island, Galapagos, running through December 31, 2032. The Terminal Use Charge will increase by $5.20 to $31.18 per passenger, generating additional revenue for infrastructure improvements at the primary gateway to one of the world's most ecologically sensitive tourism destinations.
Two Free Trade Zones Now Operational in Guayas Province: ZOFRAPORT and Pascuales Offer 0% Income Tax for Five Years Under Economic Efficiency Law
Ecuador's two newest free trade zones in Guayas province — ZOFRAPORT at Posorja and Paseo Tablado at Pascuales — are now operational under the 2023 Economic Efficiency Law. Companies establishing operations within the zones pay 0% income tax for five years and a fixed 15% rate thereafter, as the government projects 180,000 direct and 500,000 indirect jobs from the national free zone program.
CNT and Nokia Launch Ecuador's First Commercial 5G Network With 422 Base Stations, National Coverage Targeted by Mid-2026
Ecuador's state telecommunications company CNT, in partnership with Nokia, has launched the country's first commercial 5G network. The rollout includes 422 base stations across Quito, Guayaquil, Cuenca, Ambato, Manta, and Santo Domingo, with national coverage targeted by mid-2026. Speeds reach up to 1.5 Gbps on the N78 (3.5 GHz) band.
Quito Metro Line 1 Northern Extension to La Ofelia Receives Environmental License: 5 km Underground Corridor, 4 New Stations, $80 Million CAF Financing
Ecuador's national environmental authority has granted the environmental license for the northern extension of Quito Metro Line 1. The project adds more than 5 km of underground tunnel and four new stations — Bicentenario, Andalucia, Rosario, and Ofelia — connecting 500,000+ residents and reducing peak-hour travel time from 48 to 8 minutes. CAF has committed $80 million in initial financing.
$117.6 Million IDB-Backed Investment Targets 85% Renewable Power in Galapagos by 2030, 100% by 2040
The Government of Ecuador announced a $117.6 million investment to strengthen climate resilience and accelerate the energy transition in the Galapagos Islands, backed by the Inter-American Development Bank. The 'Energy Evolution' plan targets 85% renewable power by 2030 and 100% by 2040, potentially eliminating 130,411 tonnes of CO2 emissions and opening the door to carbon-market financing.
Ecuador's National Assembly Votes 117-20 to Legalize Carbon Markets, Ending 16-Year De Facto Ban and Opening a New Asset Class
Ecuador's National Assembly voted 117-20 to legalize carbon markets, ending a de facto ban that has been in effect since 2008 constitutional reforms. The legislation, now awaiting presidential approval, creates a regulated framework for carbon credit trading and designates BeZero Carbon as the official ratings provider for the Ecuadorian Carbon Exchange (BECX). Ecuador faces an estimated $3.7 billion in annual climate financing needs through 2050.
Mexico's ASUR Acquires Quito Airport Stake as Part of $936 Million, 20-Airport Acquisition Across Latin America
Mexico's Grupo Aeroportuario del Sureste (ASUR) has agreed to acquire Motiva S.A.'s stake in Corporacion Quiport, the concessionaire operating Quito's Mariscal Sucre International Airport. The transaction is part of ASUR's broader $936 million acquisition of 20 airports across Brazil, Ecuador, Costa Rica, and Curacao, financed through cash reserves and JPMorgan committed debt. The deal is expected to close in H1 2026.
Petroecuador Declares Force Majeure at Esmeraldas Maritime Terminal After Tanker Strikes Submarine Pipeline, Disrupting Fuel Supply to Northern Ecuador
Petroecuador declared force majeure and a 60-day emergency at the Esmeraldas Maritime Terminal after the tanker 'Seaways Wheat' struck a submarine pipeline during diesel discharge on February 8, 2026, caused by adverse weather conditions. The incident disrupts programmed discharges of Premium Diesel, Ron 95 Gasoline, and Diesel Oil — threatening fuel supply to northern Ecuador's coastal and highland regions served by the terminal.
EU and Ecuador Launch $6.6 Million 'Tinkuy' Digital Transformation Program — Four-Year Initiative Targets Cybersecurity, Interoperability, and AI-Powered Social Monitoring
The European Union and Ecuador launched 'Tinkuy' (Kichwa for 'meeting'), a $6.6 million, four-year digital transformation program implemented by Spain's FIAP, Estonia's e-Governance Academy (eGA), and Ecuador's CEDIA. The initiative targets four pillars: enhancing the GOB.EC digital platform, strengthening cybersecurity and data protection, creating a National Cybercrime Center, and deploying AI-powered social indicator monitoring for issues including chronic child malnutrition.
Ecuador's Carnival VAT Cut to 8% Projects $160 Million Economic Impact, 1.3 Million Domestic Travelers at 54%+ Hotel Occupancy
President Daniel Noboa reduced the VAT (IVA) from 15% to 8% for tourism services during the four-day Carnival holiday (February 14-17) via Executive Decree 304. The Vice Ministry of Tourism projected the holiday would generate up to $160 million in economic impact, with more than 1.3 million domestic travelers and hotel occupancy exceeding 54% — the second targeted VAT reduction following a similar measure during the New Year's holiday.
Ecuador Valentine's Day Flower Exports Rise 3% to 39,000 Tons But Revenue Falls to $274 Million as Combined 21.8% US Tariff Erodes Margins
Ecuador shipped approximately 39,000 tons of flowers for Valentine's Day 2026 — a 3% increase over 2025's 37,000 tons — but revenue is projected to decline to $274-276 million from $282 million last year. The decline reflects a combined 21.8% US tariff (15% Trump administration surcharge plus 6.8% existing duty) that has compressed margins across the sector's 6,200 hectares of plantations employing 120,000 workers.
Petroecuador Awards $644.8 Million in Crude Oil Export Contracts for 14.4 Million Barrels to Unipec, Shell, and PetroChina, Plus $128 Million Spot Sale
EP Petroecuador awarded the export of 14.4 million barrels of crude oil (Oriente and Napo grades) through two international public tenders, expected to generate approximately $644.8 million. Awards went to Unipec America, Shell Western Supply and Trading, and PetroChina International. A separate spot sale of 1.44 million barrels of Oriente crude to PetroChina at a WTI differential of -$3.91/barrel is expected to bring $128 million — marking Ecuador's second spot operation of 2026.
Lundin Gold Commits $100 Million to 2026 Ecuador Exploration, Deploys 18 Rigs Across 133,000-Meter Drill Program to Extend Fruta del Norte Mine Life
Lundin Gold announced a $100 million investment in 2026 exploration to extend the life of its Fruta del Norte mine in Zamora Chinchipe province, deploying 18 drilling rigs across a 133,000-meter program. The company expects to produce 475,000-525,000 ounces of gold annually from 2026-2028, with key expansion decisions — Fruta del Norte South development in H1 and mill throughput expansion in H2 — that could transform Ecuador's largest gold mine into a multi-decade operation.
Ecuador-Colombia Trade War Escalates: 30% Mutual Tariffs, 900% Pipeline Fee Hike to $30/Barrel, and Electricity Suspension Disrupt $2.3 Billion Bilateral Trade
Ecuador and Colombia remain locked in the most severe bilateral trade dispute in decades. President Daniel Noboa's January 21 announcement of a 30% 'security tariff' on all Colombian imports — paired with a 900% increase in pipeline transit fees from $3 to $30 per barrel — triggered Colombian retaliation including 30% tariffs on 23 Ecuadorian products and an indefinite suspension of electricity exports. Bilateral trade worth approximately $2.3 billion annually has been severely disrupted.
US and Ecuador Substantially Conclude Agreement on Reciprocal Trade, Eliminating 15% Tariff Surcharge on ~$3.2 Billion Non-Petroleum Export Basket
The United States and Ecuador substantially concluded negotiations for an Agreement on Reciprocal Trade (ART), with a formal signing expected in the coming weeks. The deal eliminates the 15% tariff surcharge on approximately 50% of Ecuador's non-petroleum exports — a basket worth roughly $3.2 billion — covering flowers, bananas, cacao, tuna, blueberries, avocados, pineapples, dragon fruit, and minerals including gold and copper.
Ecuador Banana Exports Hit Record 378 Million Boxes in 2025, Up 3.9% Year-Over-Year as EU and Russia Absorb Over Half of Shipments
Ecuador exported a record 378.41 million boxes of bananas in 2025, a 3.9% increase over 2024, consolidating its position as the world's largest banana exporter. The European Union (31%) and Russia (20%) remained the dominant markets, accounting for over half of all shipments. Emerging growth came from the United States (+14.5%), China (+17.9%), and South Korea (+39.1%), with the just-concluded US-Ecuador reciprocal trade agreement poised to further diversify destination markets.
Ecuador Commits $2.43 Billion to 23 Power Projects Adding 1,471 MW by 2030, With Solar Accounting for 963 MW and $913 Million After Worst Energy Crisis in Decades
Ecuador unveiled its 2025-2030 electric power expansion plan committing $2.43 billion across 23 projects to add 1,471 MW of new hydro, solar, wind, and geothermal capacity. Solar dominates the plan at 963 MW ($913 million), accounting for 65% of new capacity — a strategic pivot away from the hydropower dependence that caused daily blackouts of up to 14 hours and an estimated $2 billion in economic losses during the 2024 drought crisis.
ENAMI Prepares International Tender for $3 Billion Llurimagua Copper Project After Arbitration Tribunal Awards Codelco Just $25.3 Million of $567 Million Claim
Ecuador's state-owned mining company ENAMI plans to launch an international tender in 2026 for the $3 billion Llurimagua copper-molybdenum project after the ICC International Court of Arbitration rejected most of Chile's Codelco $567 million damages claim, awarding just $25.3 million in July 2025. The project — located in Imbabura province, 80 km northeast of Quito — holds a 982-million-tonne resource capable of producing approximately 210,000 tonnes of copper per year over a 27-year mine life.
CAF Invests $450,000 in Ecuador's First National Competitiveness Policy, Signs Technical Cooperation Agreement at Economic Forum 2026 Launch
CAF — Development Bank of Latin America and the Caribbean — signed a $450,000 non-reimbursable technical cooperation agreement with Ecuador's Ministry of Production, Foreign Trade and Investment to design the country's first comprehensive national competitiveness policy. The agreement, titled 'Towards a New Competitiveness Policy for Ecuador,' was formalized at the Quito launch of CAF's II International Economic Forum, which convened 6,500 leaders from 70 countries in Panama City on January 28-30.
US Formally Designates Ecuador's Rare Earth, Copper, and Gold Reserves as Strategic Minerals at 54-Nation Critical Minerals Ministerial
The United States formally recognized Ecuador's rare earth, copper, and gold deposits as strategic minerals at the February 4, 2026 Critical Minerals Ministerial in Washington, signing a bilateral framework agreement as part of a 54-nation effort to diversify supply chains away from Chinese dominance. The designation opens access to $10 billion in EXIM Bank financing and DFC investment guarantees — but faces a paradox: Chinese state-linked firms already control Ecuador's three largest undeveloped mining projects worth an estimated $50+ billion in combined resources.
TerraEarth Resources: How a Chinese-Owned Firm Amassed 10,900 Hectares of Gold Concessions in Ecuador's Amazon While Contaminating Rivers at 500x Safe Levels
TerraEarth Resources S.A. — a Quito-registered company with $580,000 in capital and two employees, controlled by Chinese nationals Peng Yongming and Wang Ye — holds 10,900 hectares of gold mining concessions across six sites in Napo Province, making it the largest single concession holder in Ecuador's Amazon gold belt. An investigation by Primicias reveals that despite 29 government inspections documenting 55 environmental violations, the company deforested nearly 700 acres and contaminated the Chumbiyacu River with heavy metals at 500 times acceptable levels before its licenses were finally suspended in May 2025.
Chevron Arbitration Award Reduced to $215 Million After Ecuador Wins 93% Savings on Original $3.35 Billion Claim — Procuraduría Weighs Annulment
The Permanent Court of Arbitration in The Hague has reduced the damages Ecuador must pay Chevron from $220.8 million to $215.07 million following a correction request, while the Procuraduría General del Estado claims a 93% savings against Chevron's original $3.35 billion claim. Procurador Juan Carlos Larrea announced Ecuador has three months to decide whether to seek annulment of the award, negotiate payment terms, or challenge the ruling — as indigenous communities in the Amazon who suffered the original contamination have still received no compensation.
Ecuador Banks Report 7,670 Suspicious Operations in 2025 — Up 42% — as BCE Mandates 47-Pattern Crypto Detection System to Protect Dollarization
Ecuador's banking system reported 7,670 suspicious financial operations in 2025 — a 42% increase from 5,408 in 2024 — as the UAFE (financial intelligence unit) identified $600 million linked to money laundering and $1.5 billion in unusual transactions. Simultaneously, the Superintendencia de Bancos declared the system 'solid and solvent' with $60 billion in deposits and a 14.32% solvency ratio. The Central Bank has mandated all banks install a 47-pattern Transaction Monitoring System targeting cryptocurrency activity to protect Ecuador's dollarized economy.
ProEcuador Absorbed Into Ministry of Production as Noboa's Efficiency Plan Cuts Executive Branch Institutions by 41% — Export Promotion Staff Under Evaluation
Ecuador's export promotion agency ProEcuador has been absorbed into the Ministry of Production, Foreign Trade and Investment under President Noboa's Administrative Efficiency Plan, which reduced executive branch institutions by 41% and ministries from 20 to 14. ProEcuador's staff — responsible for operating 24 commercial offices in 21 countries — are under evaluation as the restructuring takes effect during a period when Ecuador is simultaneously finalizing trade agreements with the United States, Canada, and the UAE.
Ecuador Retail Sales Hit $20.4 Billion in January 2026 — Up 6.8% — as Construction Surges 21% and Administrative Services Jump 22%
Ecuador's retail sales reached $20.39 billion in January 2026, a 6.8% increase ($1.29 billion) over January 2025's $19.1 billion, according to the Servicio de Rentas Internas (SRI). Construction led sectoral growth at 21%, followed by administrative services (+22.3%) and real estate (+21.1%), while the commerce sector — the economy's largest — generated $8.3 billion in monthly activity alone. The data confirms a strong consumer confidence rebound following the 2024 power crisis and economic contraction.
Noboa Signs Decree 307: State Authorized to Buy, Store, and Sell Rice and Corn Directly as 20,000-Tonne Emergency Purchase Targets Farmer Crisis
President Noboa signed Executive Decree 307 on February 13, authorizing the Ministry of Agriculture to directly buy, sell, and store rice and corn to combat price speculation and hoarding. The decree triggers an immediate purchase of 20,000 metric tons of paddy rice from producers — described by Noboa as 'the largest purchase a government has made all at once' — as rice farmers face a deepening crisis: mills paying $20-25 per 220-pound sack against official minimums of $34-36, and 60,000 tonnes of export-grade rice stuck domestically after Colombia's 30% retaliatory tariff closed Ecuador's primary grain export market.
Noboa Relocates Federal Government to Guayaquil After Mayor Alvarez Arrested on Organized Crime and Money Laundering Charges
President Daniel Noboa announced on February 13 that Ecuador's federal government will operate from Guayaquil for several weeks following the arrest and imprisonment of Mayor Aquiles Alvarez on organized crime, money laundering, and tax fraud charges. From Guayaquil, Noboa is launching accelerated housing programs, university student residences, job training initiatives, and enhanced citizen security operations — effectively federalizing governance of Ecuador's largest city and main commercial port.
Ecuador-Colombia Trade War Escalates: Cross-Border Transit Drops 99%, Pipeline Tariff Surges 900%, and Electricity Exports Suspended
The trade war between Ecuador and Colombia has escalated into the most severe bilateral commercial crisis in decades. Ecuador's 30% 'security tariff' on Colombian imports — effective February 1 — triggered matching 30% retaliatory tariffs from Bogotá on 23 Ecuadorian products, a suspension of Colombian electricity exports, and Ecuador's counter-escalation of a 900% pipeline tariff increase on Colombian crude oil transport. Cross-border goods transit at the Rumichaca international crossing has plunged by up to 99%.
Global Cocoa Prices Crash 62% From 2025 Peak to $4,197/Ton — Ecuador's Rising Cacao Sector Faces Margin Squeeze as World's No. 4 Producer
Global cocoa prices have crashed approximately 62% from their mid-2025 peak above $11,000 per metric ton to approximately $4,197/ton by mid-February 2026. The collapse threatens Ecuador's ambitions to expand its position as the world's fourth-largest cocoa producer, with the country's $1.2 billion annual cacao export sector facing compressed margins — particularly for bulk CCN-51 variety growers — even as fine-aroma Nacional cacao continues to command a premium.
Ecuador's $46.3 Billion 2026 Budget Approved With $2.2 Billion Public Investment Plan Targeting 1,471 MW of New Energy Capacity and 388 Infrastructure Projects
Ecuador's National Assembly has approved a 2026 budget of $46.3 billion — a 13% increase over 2025 and equivalent to 33.27% of GDP. The Annual Investment Plan allocates $2.2 billion across 388 projects, with the centerpiece being a $2.43 billion electric power expansion plan targeting 1,471 MW of new renewable capacity through 2030, including $913 million for 963 MW of solar installations. The construction sector is forecast to grow 4.1% in 2026.
Ecuador Expands US Security Partnership With Surveillance Drones, Military Advisors, and Port Monitoring Systems to Combat Drug Trafficking
President Noboa has announced a significant expansion of security cooperation with the United States, including the deployment of American military advisors, surveillance drones, and advanced port monitoring systems. The partnership — part of the broader US-Ecuador strategic alignment that underpins the recently concluded trade agreement — targets drug trafficking networks and Colombian-origin armed groups operating in Ecuador's border provinces and port facilities.
CAF Signs $450,000 Technical Cooperation for Ecuador's National Competitiveness Strategy as II International Economic Forum Launches
CAF (Development Bank of Latin America and the Caribbean) has signed a $450,000 non-reimbursable technical cooperation agreement with Ecuador to support the design of a comprehensive national competitiveness strategy. The agreement was formalized during the launch of the II International Economic Forum 2026 and the Latin America and Caribbean Business Roundtable in Quito, with Economy Minister Sariha Moya and Production Minister Luis Alberto Jaramillo present.
US-Ecuador Reciprocal Trade Deal 'Substantially Concluded' With Full Tariff Elimination — Shrimp Sector Demands Inclusion in Final Product List
The United States and Ecuador have 'substantially concluded' negotiations on a reciprocal trade agreement that would fully eliminate the 15% surcharge on Ecuadorian goods. However, the shrimp sector — representing $2 billion annually in US-bound exports — has not been confirmed in the final product list, prompting CNA president José Antonio Camposano to warn that 'every agreement the country negotiates must include shrimp.'
Ecuador's Petroleum Paradox: $5.9B in Projected Crude Exports Nearly Matched by $5.0B Fuel Import Bill in 2026
Ecuador's Ministry of Finance projects the country will export approximately $5.926 billion in crude oil in 2026 while importing $4.981 billion in refined fuels — reducing the net petroleum benefit to just $945 million. The near-parity between crude revenue and fuel costs represents an 85% erosion from 2023 levels and exposes the structural fragility of an oil-producing nation that cannot refine enough of its own crude.
Ecuador Ships 39,000 Tonnes of Flowers for Valentine's Day 2026 as US Tariff Hike Drives 6% Decline in American Orders
Ecuador's flower industry dispatched 39,000 metric tonnes of cut flowers during the 2026 Valentine's season (January 20 – February 11), up from 37,000 tonnes in 2025. However, the US tariff increase from 6.8% to 21.8% drove a 6% decline in US-bound shipments, costing the sector an estimated $6 million in lost revenue as Colombia's duty-free access captured displaced demand.
DP World Advances $190 Million Posorja Port Expansion: Berth to Reach 800 Meters by Late 2026, Capacity Jumps 40% to 1.4 Million TEU
DP World announced the advancement of a $190 million expansion of its Posorja deep-water terminal, extending the main berth from 467.5 meters to 800 meters and increasing annual capacity by 40% to 1.4 million TEU. The World Bank-ranked most efficient port in Latin America will deploy all-electric quay cranes and 900+ refrigerated container plugs to support Ecuador's surging commodity exports.
Shrimp Officially Overtakes Petroleum as Ecuador's #1 Export Product: $8.4 Billion vs $7.75 Billion in 2025
In a milestone that redefines Ecuador's economic identity, shrimp exports closed 2025 at $8.401 billion — officially surpassing petroleum at $7.750 billion to become the country's single largest export product for the first time in modern history. The crossover ends petroleum's five-decade dominance and confirms Ecuador's structural transformation toward an aquaculture-led export economy.
Ecuador's Non-Petroleum Exports Hit All-Time Record $25.2 Billion in 2025, Up 16% as Shrimp, Cacao, and Bananas Drive Structural Diversification
Ecuador's non-petroleum, non-mining exports reached a record $25.202 billion in 2025, a 16% year-on-year increase representing $4.553 billion in additional export revenue. The performance generated a positive non-petroleum trade balance of $5.032 billion and confirmed a structural shift in the country's export profile, led by shrimp ($8.4B, +20%), cacao ($4.7B, +29%), and bananas ($4.3B, +11%).
Petroecuador Awards 14.4 Million-Barrel Crude Export Contract Worth ~$645 Million to Unipec, Shell, PetroChina, and ENAP
Petroecuador awarded export contracts for 14.4 million barrels of crude oil -- 9.36 million barrels of Oriente and 5.04 million barrels of Napo grade -- to four international firms in tenders held February 5, 2026. The contracts, worth an estimated $645 million in state revenue, went to Unipec America (Sinopec subsidiary), Shell Western Supply and Trading, PetroChina International, and Chile's ENAP, reflecting Ecuador's continued diversification of crude buyers beyond its traditional China-heavy offtake base.
Lundin Gold Commits $100 Million to 2026 Ecuador Exploration Campaign, Plans 133,000 Meters of Drilling at Fruta del Norte Complex
Lundin Gold announced a $100 million exploration budget for 2026 -- the largest single-year exploration investment in Ecuador's mining sector -- with 133,000 meters of planned drilling across concessions in Zamora Chinchipe province. The company set full-year production guidance at 475,000-525,000 ounces of gold at an all-in sustaining cost of $1,110-$1,170/oz, and expects to make development decisions on both the Fruta del Norte South deposit and a mill expansion beyond 5,500 tonnes per day by year-end.
World Bank Approves $900 Million Job Creation DPF and $200 Million Disaster Risk Facility, Reinforcing Ecuador's Fiscal Consolidation Path
The World Bank approved a $900 million Development Policy Financing operation for job creation and fiscal sustainability, alongside a $200 million disaster risk management facility, in November 2025. The combined $1.1 billion package supports Ecuador's fiscal consolidation -- with the deficit expected to narrow to just 0.7% of GDP in 2025 -- and positions the country to absorb climate and seismic shocks without derailing macro stability.
Banana Exports Hit 377 Million Boxes in 2025 With 3.9% Growth, But Fusarium TR4 Confirmation in December Clouds the 2026 Outlook
Ecuador exported over 377 million boxes of bananas in 2025, a 3.9% increase year-on-year, driven by surging demand from China and Turkey. But the December 2025 confirmation of Fusarium Tropical Race 4 (TR4) on Ecuadorian soil -- the first detection in the country -- has triggered emergency phytosanitary measures and represents the most significant threat to the sector in decades. Containment efforts will determine whether Ecuador can sustain its dominance as the world's top banana exporter.
US and Ecuador Sign Reciprocal Trade Framework: Tariff Exemptions for Non-Competing Goods, Market Access for US Machinery and Digital Services
The United States and Ecuador signed a Framework for an Agreement on Reciprocal Trade in November 2025, establishing mutual commitments on tariff relief, agricultural market access, and digital trade. Under the framework, Ecuadorian goods that 'cannot be grown, mined, or naturally produced in the United States in sufficient quantities' -- likely including shrimp, cacao, and bananas -- will be exempt from the 15% reciprocal tariff. Ecuador committed to reducing duties on US machinery, chemicals, motor vehicles, and eliminating discriminatory digital services taxes.
Ecuador Cacao Exports Projected to Exceed 623,000 Metric Tons in 2026, Positioning Country to Overtake Ghana as World's No. 2 Producer
The National Cocoa Exporters Association (Anecacao) projects Ecuador will export more than 623,000 metric tons of cacao in 2026, a pace that would position Ecuador to surpass Ghana as the world's second-largest cacao producer by the 2026/27 season. Ecuador's ascent is fuelled by rising planted area, improving yields from hybrid varieties, and sustained elevated global prices driven by supply shortfalls in Ivory Coast and Ghana due to drought, disease, and ageing tree stock.
ENAMI Plans 2026 International Tender for $3 Billion Llurimagua Copper-Molybdenum Project After Codelco Exit
State mining company ENAMI EP plans to launch an international tender in 2026 for the Llurimagua copper-molybdenum project, valued at $3 billion, after Chile's Codelco exited the 51/49 joint venture. The Imbabura province deposit holds a 982-million-tonne resource base with projected output of 210,000 tonnes of copper per annum over a 27-year mine life -- potentially one of Ecuador's largest-ever mining investments at a time of surging global demand for the electrification metal.
Ecuador Shrimp Exports Smash Record at 1.39 Million Metric Tons in 2025, Industry Projects 15% Growth for 2026
Ecuador's shrimp sector delivered a record 1.39 million metric tons of exports in 2025, valued at approximately $7.5 billion, representing a 15% year-on-year increase after 2024's stagnation. China remained the dominant buyer at 48% of volume, followed by the US at 19% and Europe at 23%. Industry body CNA projects another 10-15% growth in 2026, driven by accelerating technification of farms and a favourable tariff position relative to India in the US market.
BIESS Cuts Credicasa Mortgage Rate to 2.99% and Expands Coverage to $71,500 as Social Security Bank Moves to Fill Housing Credit Gap
The Banco del Instituto Ecuatoriano de Seguridad Social (BIESS) reduced its Credicasa mortgage interest rate to 2.99% -- the lowest in over a decade -- and expanded maximum eligible property values to $71,504, including single-bedroom units for the first time. The move positions BIESS as an alternative channel for homebuyers who cannot access the stalling Mi Casa Propia programme, and reflects the social security bank's strategy to increase mortgage disbursements amid Ecuador's 1.8-2.2 million unit housing deficit.
Mi Casa Propia Stalls: Over 60% of Loan Applications Fail to Qualify Despite $100 Million Government Allocation
More than 60% of applications submitted to Ecuador's Mi Casa Propia subsidised housing programme have failed to meet qualification requirements, despite a $100 million government allocation designed to expand homeownership among lower-income households. The high rejection rate exposes structural barriers in Ecuador's mortgage market -- including widespread informal employment, land title irregularities, and income documentation gaps -- that government subsidies alone cannot resolve.
Elecaustro Launches Bid for 100MW Replacement Barge as Karpowership Contract Expires, Exposing Grid's Continued Rental Dependence
Elecaustro issued a competitive bid to lease a power generation barge of up to 100 megawatts to replace capacity lost when its Karpowership contract expired on January 7 after a 110-day term. The procurement underscores Ecuador's continued dependence on rented emergency generation -- 334MW across three barges and two thermal plants -- even as the government advances a $2.43 billion long-term power expansion plan targeting 1,471MW of new capacity.
UAE and Ecuador Conclude CEPA Negotiations: 98% of Products Covered, 75% at Zero Tariff, March Signing Planned
Ecuador and the United Arab Emirates concluded technical negotiations on a Comprehensive Economic Partnership Agreement (CEPA) at the World Government Summit in Dubai, with a formal signing planned for March 2026. The deal grants preferential access for 98% of negotiated Ecuadorian products, with 75% entering the UAE at zero tariff immediately -- covering over 4,000 agricultural and industrial goods. Quito projects annual exports to the UAE could reach $1 billion by 2030, up from $261 million in non-oil trade in 2024.
Banco del Pacífico Targets $1 Billion in New International Financing After Landmark $500M JP Morgan Deal and $225M CAF Guarantee
Banco del Pacífico disclosed plans to raise an additional $1 billion in international financing during 2026, building on a landmark $500 million facility from JP Morgan -- the US bank's first-ever transaction in Ecuador -- and a $225 million partial guarantee from CAF earmarked for SME lending. The state-owned bank reported 2025 net profit of $206 million, up 30% year-on-year, and placed over $1 billion in productive-sector loans.
Noboa Enters Second Term Under Pressure: 60% Disapproval, Referendum Defeat, and Record $230M Security Pledge
President Daniel Noboa begins his second term confronting a stark contradiction: macroeconomic indicators are the strongest in a decade -- country risk at 460 points, reserves at $9.975 billion, inflation at 2.1% -- yet 60% of Ecuadorians disapprove of his administration and 72% see a negative future, according to CIESS polling. The government pledged a record $230 million security investment after 2025 registered the most violent year in the country's history.
CAF Launches Economic Forum 2026 in Quito and Signs $450,000 Technical Cooperation Agreement to Design Ecuador's National Competitiveness Policy
CAF (Development Bank of Latin America and the Caribbean) held a high-level event in Quito to launch the II International Economic Forum and signed a $450,000 non-reimbursable technical cooperation agreement with Ecuador's Ministry of Production, Foreign Trade and Investment. The agreement will fund the design of a comprehensive national competitiveness policy aimed at improving productivity across Ecuador's non-extractive sectors.
Decree 273 Reshapes Ecuador's Mining Investment Calculus: New 3-8% Royalty Scale, 100% Self-Power Mandate, and Tightened Exploration Timelines Take Effect
Executive Decree 273, signed by President Noboa on December 31 and effective January 1, 2026, introduced the most significant changes to Ecuador's mining regulatory framework in over a decade. The decree establishes a 3-8% sliding royalty scale based on commodity prices, mandates that all mining projects supply 100% of their electricity needs, and tightens exploration timelines -- reshaping the cost structure for an $8 billion+ investment pipeline.
BioMar Takes Full Ownership of Ecuador Aquafeed Unit and Plans 37% Capacity Expansion to 410,000 Tonnes
BioMar Group acquired the remaining 30% shareholding in its Ecuadorian subsidiary from the Lanec family, taking full ownership of one of the world's largest aquafeed production facilities. The company will expand capacity from 300,000 to 410,000 tonnes by Q3 2026, with a further 200,000-300,000 tonne phase planned -- a major vote of confidence in Ecuador's shrimp export engine despite US tariff headwinds.
Chevrolet Launches 2026 Captiva PHEV in Ecuador as National EV Sales Surge 159% Year-on-Year to 2,234 Units
GM Ecuador launched the 2026 Captiva PHEV at $32,999 -- its third electrified model in four months -- as Ecuador's electric vehicle market posts extraordinary growth: 2,234 fully electric units sold January-August 2025 (up 159% YoY), with hybrids adding 11,210 units (up 27.4%). BYD leads market share, but Chevrolet's aggressive pricing strategy signals intensifying competition in Latin America's fastest-growing EV market.
Sinopec Wins $105M Petroecuador Contract for Amazon Drilling Campaign Targeting 12,000 bpd Across Orellana and Sucumbios
Petroecuador awarded a $105 million drilling services contract to China's Sinopec for a multi-well campaign across Orellana and Sucumbios provinces in the Ecuadorian Amazon. The programme targets 12,000 barrels per day of incremental production and is expected to create 2,500 local jobs. The contract deepens China's growing role in Ecuador's upstream oil sector.
Canada and Ecuador Conclude Free Trade Agreement Negotiations After Six Rounds; Ratification Pending
Canada and Ecuador concluded free trade agreement negotiations in January 2025 after six rounds of talks launched in April 2024. Under the agreement, Ecuador will remove duties on 97.2% of tariff lines. The deal reflects parallel diversification strategies as both nations seek to reduce dependence on the US market amid escalating Trump-era tariffs.
Ecuador-Colombia Quito Summit Ends Without Agreement as Reciprocal 30% Tariffs Remain; Colombia Files CAN Complaint
The high-level bilateral summit in Quito on February 6 ended without agreement to lift reciprocal 30% tariffs between Ecuador and Colombia. Colombia subsequently filed a formal complaint with the Andean Community of Nations (CAN) and signalled plans to expand retaliatory measures. Both leaders face weak domestic approval as $2.8 billion in annual bilateral trade hangs in the balance.
Ecuador Reopens Mining Concession Registry After Seven-Year Freeze, Targets $4B in Annual Mining Exports
Ecuador officially reopened its mining concession registry, frozen since January 2018, in a phased process that will culminate with full metallic concession availability by early 2026. Mining exports exceeded $3 billion last year and could reach $4 billion as six large and medium-scale projects -- including CMOC's Cangrejos and SolGold's Cascabel -- prepare to begin construction over the next four years.
US Tariff Hike to 15% Costs Ecuador's Shrimp Industry an Estimated $20M Per Month as Total Burden Reaches 18.78%
The United States raised tariffs on Ecuadorian imports from a 10% baseline to 15% effective August 7, adding to existing 3.78% countervailing duties for a combined burden of 18.78% on the world's largest shrimp exporter. CNA estimates the cost at $20 million per month, yet S&P Global notes Ecuador may paradoxically benefit as India faces even steeper US tariff walls.
Ecuador Unveils $2.43B Power Expansion Plan Targeting 1,471 MW of New Capacity Across 23 Projects With Nuclear Exploration
Ecuador's Ministry of Energy published its 2025-2030 electric power expansion plan, committing $2.43 billion across 23 generation projects totalling 1,471 MW of new capacity. Solar dominates with 963 MW, while the government disclosed plans to explore small modular nuclear reactors in the medium term -- a first for the country -- as it races to close a projected 76% demand growth gap by 2034.
Colombia Sends High-Level Delegation to Quito in Bid to De-Escalate Trade War as Reciprocal 30% Tariffs Enter Second Week
Colombia dispatched a high-level delegation to Quito on February 6 for private bilateral talks aimed at resolving the escalating trade war between the two nations. The visit, authorised directly by President Petro, comes as reciprocal 30% tariffs, a 900% pipeline fee hike, and Colombia's suspension of electricity exports threaten over $3 billion in annual bilateral commerce.
Petroecuador Signs Energy Cooperation MoU With Abu Dhabi's ADNOC as Ecuador Courts Gulf Investment
Petroecuador formalised an energy cooperation framework with Abu Dhabi National Oil Company (ADNOC) through a memorandum of understanding signed by UAE Minister Sultan Al Jaber and Ecuador's Minister Ines Manzano. While non-binding, the MoU establishes a channel for collaboration on crude purchases, technical best practices, and strategic cooperation as Petroecuador confronts declining output and an urgent need for operational modernisation.
PetroEcuador Production Falls 8.5% to 349,000 b/d as Labor Groups Warn of 'Silent Dismantling'
Ecuador's state oil company EP PetroEcuador averaged just 349,167 barrels per day in 2025, an 8.5% year-on-year decline, while public investment in the company fell 73% to $485.4 million. Labor groups have warned of a 'silent dismantling' as fuel imports reached 74.3 million barrels.
World Bank Forecasts Ecuador GDP Growth at 2% for 2026, Among Slowest in Latin America
The World Bank projects Ecuador's GDP will grow approximately 2% in 2026, broadly in line with forecasts from the IMF (2.0%), BCE (1.8%), and CEPAL (2.1%). The rate places Ecuador among the slower-growing economies in Latin America, with inflation expected at 2.8-3.2% and a projected trade surplus of $7.647 billion.
CAF and Ecuador Sign Technical Cooperation Agreement on Competitiveness at International Economic Forum
Ecuador and CAF signed a technical cooperation agreement on competitiveness policy at the II International Economic Forum in Panama City, where President Noboa outlined the country's economic stability and security strategy before 6,500 participants from 70 countries.
Ecuador Auto Sales Surge 37% in January to Best Start in Five Years as EV Share Hits 5.3%
Ecuador sold 11,342 new vehicles in January 2026, a 37% year-on-year increase and the strongest January performance in five years, according to AEADE data. Electric vehicles reached a 5.3% market share, with combined EV and hybrid sales accounting for 22.2% of the total.
Cacao Prices Retreat to $4,500/Ton but Ecuador Export Volumes Set to Surpass 600,000 Tons
Global cacao prices have fallen to approximately $4,500 per ton, down sharply from the December 2024 peak of $12,483. Despite the correction, Ecuador's export volumes are projected to exceed 600,000 tons in 2026, with the sector expected to generate over $1 billion in additional revenue.
Ecuador Returns to International Bond Markets With Record $4B Sale, Moody's Upgrades Two Notches
Ecuador sold $4 billion in new sovereign bonds on January 26 -- its first international issuance since 2019 -- drawing $18 billion in demand from over 340 investors. Moody's responded with a two-notch upgrade to Caa1, while a simultaneous $3 billion buyback will save $698 million in 2026 debt service.
Ecuador Halts All Mining in Napo Province, Restricts Operations in El Oro and Loja Over Toxic Contamination
Ecuador's Ministry of Environment suspended all mining activity in Napo province and restricted ore processing in El Oro and Loja effective February 2, citing dangerous concentrations of heavy metals and cyanide in the Calera, Amarillo, and Napo rivers. Officials warn environmental restoration will take "many years."
CONAIE Mobilises Against Noboa's Urgent Mining Reform Bill, Warns of 'Devastating' Environmental Rollback
Ecuador's largest indigenous federation CONAIE raised a formal alarm on February 4 against President Noboa's mining reform bill, submitted January 28 as an "urgent economic matter" with a 30-day legislative deadline. The government aims to boost mining exports from $3.6B to $6.8B by 2036, but CONAIE warns the bill guts environmental safeguards for paramos, forests, and water sources.
US Tariff Cut on Indian Shrimp From 50% to 18% Threatens Ecuador's Hard-Won Market Dominance
The United States' decision to cut tariffs on Indian shrimp imports from 50% to 18% poses a direct threat to Ecuador's position as the top US shrimp supplier -- a status achieved only recently after Ecuador's shrimp exports totalled $6.99 billion in 2024. CNA president Jose Antonio Camposano is pressing the government to negotiate better trade terms.
Colombia's Indefinite Electricity Suspension Costs Ecuador an Estimated $2M Per Day in Replacement Energy
Colombia indefinitely suspended electricity exports to Ecuador effective February 1, a move Bogota characterises as a "preventive measure" to protect its own energy sovereignty. Ecuador estimates the suspension forces it to source approximately $2 million per day in higher-cost replacement energy from thermal generation and spot market purchases.
Ecuador Imposes 900% Tariff Hike on SOTE Pipeline Transport of Colombian Crude
Ecuador raised the tariff for transporting Colombian crude through the state-owned SOTE pipeline from $3 to $30 per barrel -- a 900% increase affecting approximately 12,000 barrels per day of Ecopetrol production. Energy Minister Ines Manzano announced the measure as direct retaliation for Colombia's suspension of electricity exports.
Ecuador-Colombia Trade War Paralyses Rumichaca Border as Reciprocal 30% Tariffs Devastate $3B+ Annual Commerce
Reciprocal 30% tariffs between Ecuador and Colombia, effective February 1, have triggered a near-total collapse in cross-border trade at the Rumichaca crossing. More than 1,000 truckers staged a "March for Border Dignity" on February 4, as bilateral commerce worth over $3 billion annually grinds to a halt. High-level officials are scheduled to meet in Quito on February 6.
Banco Pichincha's Digital Unit Crosses 3 Million Users as Mobile Lending Triples
Banco Pichincha's digital banking platform has surpassed 3 million active users, with mobile-originated lending tripling to $420 million in 2025 as Ecuador's largest financial institution accelerates its technology transformation.
Ecuador Banana Sector Faces Margin Squeeze as AEBE Enters Wage Negotiations
Ecuador's banana industry, the world's largest by export volume, faces mounting pressure from labour cost increases as the Asociacion de Exportadores de Banano del Ecuador enters contentious wage negotiations amid a proposed 8% minimum hike for agricultural workers.
Guayaquil's Waterfront Sees $650mn in New Commercial Projects as Puerto Santa Ana Expands
Guayaquil's riverfront commercial district is experiencing a construction boom, with $650 million in new mixed-use projects breaking ground along the expanded Puerto Santa Ana corridor as domestic and Colombian developers bet on the city's post-pandemic recovery.
Ecuador Sovereign Bonds Rally to Post-Restructuring Highs on Fiscal Discipline Signals
Ecuador's restructured sovereign bonds have rallied sharply in early 2026, with the benchmark 2035 notes trading at 78.5 cents on the dollar -- their highest level since the 2020 debt overhaul -- as investors reward fiscal consolidation efforts.
PetroEcuador Output Holds at 480,000 b/d as SOTE Pipeline Upgrades Near Completion
PetroEcuador maintained crude oil production at approximately 480,000 barrels per day in January 2026, with the company forecasting a return to 500,000 b/d by the third quarter following completion of critical SOTE pipeline upgrades.
Ecuador's National Assembly Opens Debate on $1.4bn Tax Reform Package
Ecuador's National Assembly began formal debate on a sweeping tax reform package projected to raise $1.4 billion annually, including a new digital services tax and expanded VAT base, as the government seeks to meet IMF fiscal targets.
Ecuador's Cacao Exports Hit $1.2bn Record as Fine-Aroma Demand Surges
Ecuador's cacao exports reached a record $1.2 billion in 2025, driven by surging global demand for fine-aroma Nacional variety beans that now command an 18% premium over West African bulk cacao.
Ecuador Shrimp Exports to Asia Surge 31% as Chinese Demand Rebounds
Ecuador's shrimp exports to Asian markets surged 31% in 2025 to reach $4.6 billion, according to the Camara Nacional de Acuacultura, with China overtaking the United States as the country's single largest shrimp buyer.
Cascabel Copper-Gold Project Advances to Pre-Feasibility as SolGold Secures $180mn Tranche
SolGold's Cascabel copper-gold project in northern Ecuador has advanced to the pre-feasibility stage, supported by a freshly secured $180 million financing tranche and an updated mineral resource estimate that confirms it as one of the largest undeveloped copper-gold deposits globally.
Ecuador's Flower Exports Poised for Record Valentine's Season as US Orders Jump 16%
Ecuador's flower industry is on track for a record Valentine's Day export season, with US-bound orders up 16% year-on-year and Quito's cargo facilities processing over 35,000 tonnes of cut flowers in January alone.