Imports increased by 22% in eight months

Imports are rising, and it is not only due to the lifting of safeguards but is a sign of recovery of the economy in 2017, according to government authorities. The information was released yesterday, September 4, by Customs Director Mauro Andino. The official explained that when comparing the January-August period of this year with the same period last year, non-oil imports of the country increased by 22%.

Andino revealed yesterday that there are more imports because more people demand foreign products. However, the country is exporting more, which means that for now, the situation of the trade balance “is tentatively controlled,” although the future is uncertain.

For the director of the Ecuadorean Business Committee Roberto Aspiazu, a real economic revival will be seen when the requests that originated in the dialogue between the productive sector and the Government materialize. For Aspiazu, the current growth of imports responds to the end of safeguard tariffs.