News

Ecuador closed 2023 with a deficit of $194 million in its non-oil balance

Ecuador
Market & Price Trends
Published Feb 20, 2024

Tridge summary

In 2023, the export of bananas and plantains saw a significant growth of 15.4%, amounting to $3,770.7 million, but still fell behind shrimp exports which, despite a slight decrease of 1.2%, reached $7,205.2 million. The most notable decrease was in tuna and fish exports, which fell by 23.8%. On the other hand, the cocoa and processed sector experienced the largest growth of 31.5%. The total non-oil exports for the country in 2023 was $22,174 million, marking a 5.2% increase from the previous year. The non-oil trade balance deficit was significantly reduced to $194 million from $1.63 billion in 2022.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Banana and plantain exports in 2023 grew by 15.4%, the amount sold was 3,770.7 million dollars. Despite this, it remains in second place after shrimp, which last year had a drop of 1.2%, after reaching sales of 7,205.2 million dollars. I invite you to read: BanEcuador gives credit of up to $5,000 to young people with a university degree Among traditional non-oil products, tuna and fish were the ones that had the greatest drop in the amount of exports, the decrease was 23.8% and the value was 293.6 million dollars, according to the Central Bank of Ecuador ( ECB). In this group, the ones that saw their income grow the most was the cocoa and processed sector, the increase was 31.5%, the amount was 1,322.8 million dollars. The increase is due to the fact that the price per ton of the product has increased due to the scarcity of food. The unit value in 2023 grew by 34%. Until Friday, February 16, 2024, a ton of cocoa in the United States cost $5,336.50. Coffee and processed products ...
Source: Expreso
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