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Latin America Investment News on Viva Tropical

Strong Export Growth Continues for Ecuador

Article Summary:

Marking a decade, Ecuador’s growth in exports have been consistently maintained, except in 2009, and have quadrupled in the last 10 years.

Photo Credit: Andes

Original Article Text From Andes via Google Translate:

Ecuador Exports Quadrupled in the Last 10 Years

Ecuador through a decade of growth in exports that have consistently maintained, except in 2009, and recorded an extraordinary moment because in this period has grown nearly four times the volume of its exports.

Between 1980 and 1999 the evolution of exports showed duplication, from 2.506 million in 1980 to 4.451 million dollars in 1999.

But between 2002 and 2011 the growth in foreign sales is 343%, from $ 5,036 million in 2002 to $ 22,322 million in 2011.

“The good performance of exports in the last decade is not only due to favorable sales of oil, but also to non-oil exports, both traditional and nontraditional, the same that grew rapidly and steadily since passed of $ 2,981 in 2002, to $ 9,378 million in 2011, registering an increase of over 215%, which is remarkable, “denotes a Central Bank report released Monday Ecuador.

Non-oil exports to major trading partners, have significantly improved, an increase of 97% from the U.S., 182% in Colombia, 1115% to Venezuela to Russia 219%, 101% in Italy, 186% in Germany, 534% to Spain, 303% to Holland to Peru 283%, 270% in Belgium, 370% France, the UK 167%, Japan 68%, and finally to China, which presents significant growth of 2,081%.

The destinations listed represent 85% of total exports.

Exports of traditional products is also remarkable, because in the past decade more than 220% figure increase because increased from $ 1,500 million in 2002 to $ 4,849 million in 2011.

Oil exports have grown over 500% when compared to the year 2011 to 2002. That is a result of higher oil prices on the international market.

Link to Original Article:

From Andes

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