Exports to Venezuela fell by 42%

Image: Expreso

Trade with Venezuela is experiencing one of its worst moments. In a year, exports fell by half. Central Bank figures show a fall of 42%. According to the Ecuadorian Federation of Exporters, the product with the greatest impact on its sales was tuna.

Commercialization raised $ 191 million during 2014 and the next year fell down to 19 million. Few companies located in Manta managed to export, says Bruno Leone, director of the National Chamber of Fisheries.

The Venezuelan crisis, which includes a 180% inflation, food shortages and recent tightening measures such as a 37% devaluation of the bolivar, made that public and private buyers suspend purchases of tuna, which is sold canned and frozen. “They prioritized other things. Due to the shortage of foreign exchange sales fell,” said Leone.

Source: http://www.elcomercio.com/actualidad/exportaciones-venezuela-cayeron-ecuador-crisis.html