Total export figures in 2021 were the highest in the last five years. Throughout the year, shipments from Ecuador reached $26,699 million, an increase of 31% compared to 2020 when $20,355 million were exported and 39% if everything that was sent in 2017 is taken into account, $19,092 million.
The data comes from the monthly statistical information published by Central Bank of Ecuador (BCE).
In the case of non-oil shipments, growth was in order 20% in dollars and 8% in volume, compared to 2020. Until December, this segment managed to place $18,091 million in different destinations worldwide.
The traditional sector that had the best performance between January and December 2021 was the shrimper with a growth of 39%. In 2021, Ecuador sent $5,323 million, according to the ECB. According to a specialized magazine, the Andean country became the world’s largest producer of the crustacean. China as a leading destination pushed the growth of shipments in the sector, as did the United States in its requirement for more value-added products.
Ecuador is the world’s largest producer of shrimp, according to Aquaculture magazine
Another of the non-oil sectors that had a positive performance were coffee and fishmeal with increases of 71% and 54%, respectively. In the first product, a point to consider is the boost that has been given to the export of specialty coffee. The coffee sector reached a figure of $14 million compared to the $8 million sent in 2020.
On the other hand the banana closed the year with a decrease of 5%. The Banana Marketing and Export Association (Acorbanec) explained that one of the factors that influenced less fruit to be shipped was the reduction in demand in various markets, in some cases due to effects on their economies and the slow recovery in the price of bananas. oil, especially in Russia, the Middle East. In the European Union there was also evidence of less purchase.
Fruits, raw tobacco, flowers, juices and preserves, products that are part of the non-traditional non-oil basket, had double-digit growth. In that same group, the shipment of mining products reached $2,092 million, an increase of 99% compared to 2020 when it was exported for $1,050 million.
Ecuador imported $23,028 million in all of 2021, an increase of 41%. This behavior is mainly explained by a higher purchase raw material Y fuels in an order of 51% and 78%, respectively.
In that sense, the Ecuador’s total trade balance registered a favorable balance of $2,870 million, resulting from a trade surplus of $3,951 million in the oil balance and a deficit of $1,080 million in the non-oil balance. (I)
Source: Eluniverso
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