Critical period for the exports to Venezuela

As “Critical” has been described the business relationship with Venezuela for local exporters. According to figures from the Central Bank of Ecuador (BCE), last year sales fell 49% compared to 2012, and so far this year, the situation has not improved.

The internal conflict in that country and the continuing delay or non-delivery of dollars by the Administrative Commission of Foreign Exchange (Cadivi) for payment to the Ecuadorian exporters, are among the principals causes of the downturn.

Currently, the debt of the Venezuelan importers with Ecuadorian businessmen sum USD 170 million, according to the Ecuadorian Venezuelan Chamber of Commerce (Caceven).

The most affected sectors are those that do not involve products of first necessity because the Cadivi not favored them in the order of priority for disbursement of foreign exchange, however, other products do manage to be marketed better because of the need for Venezuelans.