Ecuadorian shrimp exports exceed crude oil revenue in first seven months of year

Between January and July 2023, Ecuador's shrimp export revenue exceeded revenue from crude oil sales, with exports of shrimp products worth $4.396 billion, and exports of two crude oils, "Oriente" and "Napo", worth $4.082 billion in both categories. The revenue difference amounted to $314 million.

In the first seven months of this year, Ecuadorian shrimp exports were 707 tons, compared with 618 tons in the same period last year. China is the largest consumer of Ecuadorian shrimps. 61% of the total exports were exported to China, 17% were exported to European countries, and 16% Exported to the United States. In the context of many difficulties faced by global shrimp production and export activities, Ecuadorian shrimp still retains certain advantages. Ecuador chose to increase the stocking density from 8 to 15 animals per square meter, but did not increase it further to ensure good habitat for the shrimp. Ecuador introduced a series of shrimp feed factories in the 2010s, helping Ecuadorian farmers increase shrimp growth rates from 1.1 to 2.5 grams per week. Ecuador has a total of 220,000 hectares of shrimp farming area, with an average annual production of 4.5 tons of shrimp per hectare, or even higher.