Foreign sales of oil, mining products and shrimp are the ones that grew the most this year. Bananas and coffee lost ground.
One of the great dynamizers of the Ecuadorian economy Are the exports. As happened last year, in 2021 the contribution of the external sector generated enormous income for the country.
Thus, more than $ 2.1 billion every month, or around $ 72 million daily. This represents 131% more than $ 1,600 million that the Government disburses monthly to maintain the current level of public spending.
Employment generation
Between January and October 2021, which is the latest data available, the exports Ecuadorians totaled $ 21,558.5 million, that is, 31% more than what was sold in 2020; and even 17% more than pre-pandemic levels.
Ricardo Vera, economist and researcher in foreign trade, explained that the greater potential of increase for the national economy is in expand international markets and sell more products abroad.
“The Ecuadorian market is small and with limited demand. The generation of more quality employment will not be possible without more exports“, He said.
The winners of 2021
First of all, exports from mining products they grew more than 85%. The income They totaled $ 1,195 million, mainly due to the impulse of the two large-scale mines that operate in the country: Mirador and Fruta del Norte. Authorities aim for these sales to reach $ 4 billion annually by 2025.
Second, the oil exports they went from $ 4,198 million to $ 7,490.7 million. That is, a growth of more than 78%. However, this increase was based on the rise in the international price of a barrel of crude, but not on an improvement in national production.
The price went from $ 34 in 2020 to an average of more than $ 60 in 2021, but on par, the number of barrels produced has fallen continuously since January.
The inconveniences worsened in December, due to the fact that the main oil pipelines operations stopped due to regressive erosion problems in the tributaries of the Coca River.
Third, the exports from shrimp totaled more than $ 4,100 million, which represents an increase of more than 31% compared to 2020. 41.2% of these sales were destined for China, while another 25.5% reached U.S.
The shrimp Ecuadorian has a presence in more than 30 markets worldwide and is one of the most dynamic traditional products.
Fourth, the floriculture sectorDespite all the problems that it has accumulated since the end of 2019, it managed to consolidate foreign sales for $ 766 million, which represents more than 10% growth.
Those who lost
After an extraordinary 2020, where it even surpassed the oil revenue, the banana activity exported 7% less in 2021. The amount reached $ 2,892 million, but producers are demanding state aid because costs have skyrocketed and operations are less and less productive.
In addition, after a ‘boom’ last year, led by an unusual Chinese demand, the exports from wood they lost ground. Revenue fell more than 33% and totaled $ 309 million.
At the same time, the manufacturing industry from vehicles it continued with its setback that comes from several years. During 2021 their sales they fell 32.2% and did not exceed $ 31 million.
For his part, cocoa sector could not replicate the expansion of more than 11% in 2021. For this year, the increase it was less than 2% and total sales reached $ 722 million. (JS)
