Another year of trade restrictions that worries the productive sectors of their impact on the economy and the income sources of the country and families is in sight. Calculating how much consumption will fall in the next twelve months, and thereby revenues, the viability of businesses and jobs, seems difficult for the unions. But you can look back to make an estimate.
And the conclusion is that after a year of safeguards, the government has turned trade relations with key partners of Ecuador in red numbers. Since 45%, 25%, 15% and 5% safeguards came into effect in March of last year, imports have fallen (something desired by the government) as well as exports to the US, Colombia, Peru, the European Union and China (something feared by everyone).
Ecuador’s only ally that has bought more goods is Asia, a 14.8% more in exports compared to imports falling by 16.3%.