Trade deficit rises to 1.886 million dollars

Image: Expreso

Half of the products that sustain 94% of non-oil revenues in Ecuador are shown as red figures and are, along with oil, the cause of a dramatic trade deficit. Between January and October this year the difference between imports and exports was substantially higher than last year. The Central Bank reported -1.886 million dollars, while during the same period of 2014 there was a surplus of 149.7 million.

The trend is confirmed. Not only oil is eating away one of the foundations of dollarization, but, shrimp, canned tuna, mining products, in addition to some manufactured products, fruit juices and extracts.

On the side of bananas and shrimp, which accounted these ten months 43.7% of non-oil sales, there are no signs of recovery. Shrimp farmers of El Oro province, when being consulted by Daily Expreso, indicated that it is unlikely that the rest of the year prices rise.

In December, the demand shrinks because more households buy turkeys and pigs.
Translated into English by Pierina Abad

Source: http://expreso.ec/expreso/plantillas/nota.aspx?idart=8733740&idcat=38269&tipo=2