Ecuador Commercial Deficit Grows

The Ecuadorian balance of trade registered a deficit in the first eight months of the year. Between January and August the importations exceeded the exports with an amount of $862,9 millions. This number represents a growth of 176% compared to the same period of 2009 whose commercial increase was of $312,9 millions.

The Banco Central presented this numbers saying there is a gap between the oil trade balance and the non-oil. The first registered a growth of $3.919,6 millions that meant an increase of 37,4% registered on 2009.

The increase of the oil exportations occurred thanks to the growth of the price of the light crude. Currently each barrel of light crude in Ecuador is worth $77. Without the oil, the foreign trade in the country shows a decrease, in the first eight months the deficit rose to $1,616 millions caused by the increase of importations.

A global balance of the National Commerce the deficit is basically explained because of the increase of importations of 34,3% between January and August, when the numbers surpassed the $8.833,2 millions to $11.862 millions on 2009 and 2010.

A study presented by the Banco Central shows that a large quantity of fuel and lubricants was imported. Other materials and goods were bought too.