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BREAKING NEWS
Cristian Espinosa was appointed Ambassador of Ecuador to the United States
Daniel Noboa receives the credentials of the new United States ambassador
40,000 women will receive scholarships in higher education
Julian Assange released from prison, after agreement with the United States
Armed Forces: Criminal gangs have lost USD 1.2 billion due to military operations in Ecuador
Minister of Defense: “It is not fair that some risk their lives, while others play with justice”
How can green banana flour enhance baked goods?
“I’m crazy for wanting to serve my country,” says Daniel Noboa at the presentation of “La Cárcel del Encuentro” in Santa Elena
Construction of the Encuentro maximum-security prison in Santa Elena begins
National blackout in Ecuador due to transmission line failure, confirms the Government

Russian crisis affects flower sales of Ecuador

Posted On 12 Dec 2014

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The sales of Ecuadorian flowers to Russia is being affected by the economic crisis Russia is facing, which represent 23% of the total sales, according to reports of delegates from that sector and figures from the Central Bank.

From January to October of 2014, the export growth of this sector registered a fall of 6.4% compared to the same months of 2013. During the previous period, exports grew by 16.3%, according to data provided by the National Association of Producers and Exporters of Flowers of Ecuador (Expoflores).

The low international oil prices, in addition to the US and the European Union sanctions to Russia have plunged the ruble in one of its worst falls since 1998.

Alejandro Martinez, head of Expoflores, noted that this devaluation restricts the consumption of imported products because of its expensiveness.

“This was really serious for us. The scenario has changed dramatically,” said Martinez.

Ecuador announced this Tuesday it plans a trade agreement with the Eurasian Union including Russia, Kazakhstan and Belarus, which would come into effect on January 1 of 2015, in order to diversify exports to that area.

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