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Oil returns to save the trade balance from deficit
Posted On 13 Jun 2017
Ecuadornews:
The commercial drought of 2016 is nothing more than an echo. Transactions abroad have recovered from 2015 when the fall in oil prices began and safeguard tariffs had not yet been installed in the customs forms. TMore than 6,000 million entered the country in the first quarter of the year, although this figure does not reach the records of the golden age of the export.
Oil, as in its good trading times, restores once more the deficit of the trade balance, compensating for the outflow of foreign exchange through sales of barrels.
In total, Ecuador sold from January to April 6.329 million dollars, when a year ago it obtained 4.89 billion dollars in the same period. In 2015, Ecuador obtained 6.401 billion. In fact, by disaggregating oil and non-oil exports, they are more similar to those in 2015, much more generous than those in 2016 (I).
