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Ecuador’s oil production falls 51% due to national strike
Guillermo Lasso announces that the National Police and the Armed Forces will act with the necessary means to defend public order and democracy
“Cacerolazo” for Peace in Quito
Contecon will extend the free storage time by 40%, in support of the export sector affected by strikes
76.4% of Ecuadorians consider that the national strike should end after the dialogue, according to Cedatos
BanEcuador will forgive debts of up to USD 3,000 to 9% of its clients
Leonardo Bohrer-Nicolás Lapentti, a binomial with a sporting past that seeks to win the elections at the Guayaquil Tennis Club
Commercial sector experienced an economic blow on Father’s Day
Ecuador, among the countries that suffer the most from the war in Ukraine
Desperation in prisons is a ‘ticking time bomb’

Ecuador seeks to boost production and exports

Posted On 03 Feb 2014
Ecuador seeks to boost production and exports

Ecuador seeks to boost production and exports

Ecuador seeks to reduce imports and boost production so that exports are greater than imports. However from January to November of 2013, the country sold $22.764 million, but bought $24.116 billion. That is, a giant deficit in its trade balance of – 1.351 million.

Yet the Government has sought to overcome the negative  balance with tariffs or quotas on imports, to curb the output of currency. Also with a tax of 5% to the money sent abroad , except for shipments of up to $1,000 every 15 days.
In a long term, the government seeks to encourage industries to grow and has already designed a strategy. Correa aspires that, until 2017, are substituted some $6 billion in imports, much by domestic production.
This idea takes time. According to the economic theory, proposed by David Ricardo, it is good that a country seeks to specialize in manufactured goods and earn an “advantage” in relation to another country which cannot produce it or is inefficient.
Economists such as Rodrigo Calderón, believe that the negative balances of trade do not do damage to the economy. “It is irrelevant if the trade balance has a  deficit or surplus. If the product is cheaper abroad, the consumer has access to goods cheaper than the ones manufactured domestically.”
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Ecuador's oil production falls 51% due to national strike

Posted On 24 Jun 2022

Guillermo Lasso announces that the National Police and the Armed Forces will act with the necessary means to defend public order and democracy

Posted On 24 Jun 2022

"Cacerolazo" for Peace in Quito

Posted On 23 Jun 2022
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