Sales grew in all sectors between 1% and up to 37%, according to official data

Sales in Ecuador in 2022 were historic, as the Internal Revenue Service (SRI) anticipated weeks ago, indicating that the economy will reach a sales record of $225,000 million -13% more than in 2021- and this week the Economy Minister Pablo Arosemena announced that the year ended with all sectors reporting more sales.

This growth was at least 1% and 5% in some cases, but in others it reached 37%, according to the data shown by the minister that have the SRI as a source.

Arts was the sector that grew the most in sales (37%), followed by mines and quarries (26%), transport (27%) and tourism (22%) and eight other sectors did so by more than 10%. A second group headed by drinking water and real estate grew by 10%, 9% and 8%. And the sectors that grew the least were activities related to health and services with 5% and lastly communication with 1%.

Mining “quickly becomes” one of the main exports and is on the list of 169 investment contracts signed for $3.2 billion in 2022

Thus, the twenty sectors grew in sales at these levels:

1. Arts 37%
2. Mines and quarries 26%
3. Transportation 27%
4. Tourism 22%
5. Financial and insurance 19%
6. Construction 18%
7. Public administration 18%
8. Administrative services 15%
9. Other activities 14%
10. Manufacturing 13%
11. Trade 12%
12. Agriculture 11%
13. Drinking water 10%
14. Real estate 9%
15. Professional activities 9%
16. Teaching 8%
17. Electricity 8%
18. Health activities 5%
19. Services 5%
20. Communication 1%

“The tourism industry will soon be in the top 3 most important non-oil export industries in the country after shrimp and bananas,” said the Minister of Tourism, Niels Olsen, congratulating all sectors, especially the one he represents for that 22% growth in sales. This sector is considered the hardest hit by the COVID-19 pandemic.

That State portfolio reported this Wednesday that the national holidays of 2022 left a tourist expense of $480 million nationwide, “a record figure since 2015 and $94 million higher than what was collected during all holidays in 2019.”

Sales in Ecuador grow by 13%. In which cities and provinces is there a greater increase in business?

Sales growth is also positive for tax collection. In this sense, the SRI reported that by the end of 2022 the collection would exceed $17.1 billion, which represents an additional 22% to what was collected in 2021 and 11% more than what was budgeted. Until November, the collection was $15,785 million and that means an increase of 24% in relation to 2021, but the tax entity breaks down that such growth corresponds to 17.6% due to the recaptivation and 6.4% by law (in the 2022 a tax reform was applied).

For the SRI, “the results of 2022 allow us to project that by 2023 productive growth will continue and that, together with the voluntary compliance of taxpayers and the strengthening of the tax control plan, tax revenues will continue to grow without raising any tax,” it has indicated. its director Francisco Briones.

The Quito Chamber of Commerce made an initial estimate of private sales for 2023 and expects growth to continue this year, although at a lower level, at 5.2%. (YO)