Oil exports left Ecuador $8,607 million in 2021

Oil exports left the country a total of $8,607 million in 2021, according to figures from the Central Bank of Ecuador (BCE).

Higher oil prices improved the country’s income in 2021.

If compared to 2020, exports grew by $3,357 million, that is, 64% compared to 2020. 

The higher revenues are due to higher oil prices in 2021, thanks to the global economic revival after the COVID-19 pandemic. In 2020, the price of oil fell to -$27 due to the lack of economic activity and problems in the supply chain. 

While in 2021, the costs of raw materials rose rapidly due to the revival and the costs of a barrel of oil exceeded $70.

Of that amount, $7,259 million corresponds to Petroecuador, according to information from the state oil company. 

The state oil company exported 41.6 million barrels of Napo crude, 59.6 of Oriente crude, 15.5 million of fuel oil and 676 thousand of vacum gas oil.