Andean Group - August 2026

ECUADOR/COLOMBIA | Electricity exports resumed. Ecuador’s environment and energy ministry announced on 5 August that the country has once again begun receiving electricity imports from Colombia, after electricity transfers were suspended by Bogotá in January amid a trade war between the two countries. Ecuador’s government announced that it was planning to import 288 megawatts from Colombia on 5 August, which would cover 6.2% of Ecuador’s daily energy needs. It said that this electricity was being purchased at US$0.33 per kilowatt hour (kWh), which it said was “approximately 67% lower than in previous operations, when the price reached US$0.99 per kWh”. The statement added that the electricity transfer agreement enables “the exchange of energy when this is convenient for the operation of the [electricity] system, guaranteeing the operational security of electricity grids and respecting the conditions of availability in each nation”. Droughts in both countries have caused drops in hydroelectricity production in recent years, with Ecuador particularly affected.

PERU | Trade surplus widens. Peru’s central bank (BCRP) released figures on 22 July showing that the country registered a trade surplus of US$3.47bn in May, up from US$3.17bn in April and US$1.96bn in May 2025. Exports in May totalled US$9.42bn, up 38.9% year-on-year, while imports totalled US$5.94bn, up 23.2%. The increase in exports was driven by traditional products, which grew by a combined 52.2% year-on-year, mostly due to growth in mining exports (+54.4%) and oil and gas exports (+63.4%). Exports of traditional agricultural products were also up by 7.2%. Meanwhile, non-traditional exports fell by 2.3% year-on-year.

COLOMBIA | Gas discovery. On 3 August Colombian state oil firm Ecopetrol and Brazilian state oil company Petrobras have announced a new natural gas discovery in the GUA-OFF-O block off the Colombian coast. In a joint statement, they said that the exploratory Sandía-1 well is located some 42km offshore at a depth of 1,285m, in the vicinity of three other wells – Sirius-1, Sirius-2, and Copoazu-1. Ecopetrol holds a majority share of 55.6% in the GUA-OFF-O joint venture, with Petrobras holding the remaining 44.4%.

Andean countries: inflation rate
Percentage variation (year-on-year)

Andean countries: GDP growth (%)
Quarterly figures are year-on-year growth