Articles
Business intelligence and analysis on Ecuador
Ecuador Shrimp Sector: 60 Million Pounds Held Up as Middle East War Disrupts Maritime Logistics
Ecuador's largest non-oil export faces a logistics crisis. CNA president José Antonio Camposano reports 60 million pounds of shrimp held up due to maritime route disruptions, port delays, and reefer container shortages caused by the US-Iran conflict. The May 3–18 curfew in coastal production zones adds operational pressure.
Ecuador's 920 MW Thermal Plan: $696 Million Committed, 490 MW in Unfulfilled Prior Commitments
Ecuador announced plans to add 920 MW of thermal generation in 2026 at a combined cost of $696.84 million. The target is the third revision in five months. Meanwhile, 490 MW in prior rental commitments remain unfulfilled, and electricity demand hit an all-time record of 5,374 MW on April 14.
Ecuador's Rice Crisis: Government Launches $8M Direct Purchase as Market Price Collapses to $18–21 per Saca
Ecuador's Agriculture Ministry is launching an $8 million direct rice purchase program on May 4 after market prices collapsed to $18–21 per saca — 42–50% below the government support price of $34–36. The Colombia trade war has closed a key export outlet, compounding domestic oversupply.
Ecuador-Colombia Tariff War: Bilateral Trade Down 44% as Ecuador Prepares 100% Duties in May
Bilateral trade between Ecuador and Colombia fell 44% in the first month of the tariff war. Ecuador plans to raise duties to 100% in May, up from the current 50%. Colombia has responded with retaliatory tariffs up to 75% and threatened to cut electricity exports — a critical supply line after Ecuador's 2024 blackout crisis.
CNEL Corruption Probe: $300M+ in Losses, 46 Officials Implicated, 400,000 Accounts Manipulated
Ecuador's Energy Minister Inés Manzano disclosed that CNEL officials manipulated billing data for over 400,000 customer accounts over more than a decade, generating invoices 80% below actual consumption. Estimated total damage exceeds $300 million. Prosecutors raided offices in three provinces on April 28.
Ecuador Banana Exports Rise 10% in Q1 2026 to 111.57 Million Boxes Despite Shipping Disruptions
Ecuador shipped 111.57 million boxes of bananas in Q1 2026, up 9.8% year-over-year. The EU led demand with 34.2% market share and 19% growth, while Turkey posted a 40.5% surge. Shipping disruptions from the Strait of Hormuz closure added $300-600 per container in freight costs.
BIESS Portfolio Reaches $28.3 Billion With Record 9.08% Return in Q1 2026
Ecuador's BIESS reported a portfolio value of $28.284 billion at end-2025, up 8% year-over-year with an 8.89% return — exceeding the actuarial benchmark by 2.64 percentage points. Q1 2026 return reached 9.08%, the highest ever recorded by the institution.
Ecuador Has Ratified 41 International Treaties Since November 2023 — 36 Now in Force
Ecuador's Constitutional Court has reviewed 41 international treaties since Daniel Noboa took office in November 2023. Of these, 36 are currently in force covering trade, police cooperation, air services, migration, and cybercrime. The portfolio includes strategic economic agreements with South Korea, the EU, and China.
Cenace: Electrical System Operating Normally — Mazar at 62.4%, Molino at 50.2%, Daule Peripa at 63%
Cenace confirmed on April 27 that Ecuador's electrical system is operating normally, with the three critical hydroelectric reservoirs — Mazar (62.4%), Molino (50.2%), and Daule Peripa (63%) — at acceptable generation levels. Moderate rainfall supported inflows. The structural 900–1,000 MW deficit remains unresolved.
Ecuador Cuts Tourism IVA to 8% for May Day Weekend via Decree 368 — Fiscal Stimulus for $2.3B Sector
President Noboa signed Executive Decree 368 on April 27, temporarily reducing the IVA from 15% to 8% on tourism services for the May Day long weekend (April 30–May 3). The measure covers accommodation, dining, tourist transport, vehicle rental, travel agencies, and events. The SRI is responsible for implementation.
Ecuador's Power Generation Gap Reaches 900–1,000 MW as Mazar Reservoir Drops 6 Meters in 25 Days
Ecuador faces a structural energy deficit of 900–1,000 MW with no near-term resolution. The Mazar hydroelectric reservoir has fallen from 2,139 to 2,132.89 meters above sea level since April 1, accelerating since April 19. Cenace warns of cascading failure risk. Oil production hit a 16-year low of 349,167 bbl/d in 2025.
Ecuador Signs First Open-Pit Gold Mine Contract: Cangrejos at $1.648B Investment, 26-Year Term
Ecuador's government formalized the exploitation contract for Cangrejos — the country's first open-pit gold mine and the world's 13th-largest undeveloped primary gold deposit. Chinese-backed Odin Mining Ecuador (CMOC subsidiary) will invest $1.648 billion across a 26-year contract in El Oro province.