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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

The sale of gold fell by $ 374 million

Posted On 17 Feb 2016

 

Image: Expreso

Image: Expreso

Oil was not the only enemy of Ecuadorian finances. Mining also experienced a significant drop in 2015. Gold and silver were the most affected commodities.

According to the new report by the Central Bank, the export of gold increased from 1,026 million dollars in 2014 to 652.1 million from January to November 2015 (374 million less).

The reason? According to the Chamber of Mines of Ecuador, there are two factors that influenced the 36.4% drop in exports. The first: the price.

As it happens with oil, falling prices affected a large number of countries. Especially, says former Minister of Energy Fernando Santos Alvite, those that do not have a large-scale mining industry. Peru and Colombia, despite the world stage by the lack of demand from China, fared better in 2015.

 

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