Ecuador conquers two powers with exports

Published 2023년 1월 3일

Tridge summary

Ecuador's non-oil, non-mining exports are projected to exceed $18,000 million in 2022, with a significant increase in sales to China and the United States, led by shrimp exports which have increased by 50% until October 2022. However, the sector faces challenges in 2023 due to competition from India and the need for incentives to maintain competitiveness. While cocoa exports have seen a 2% rise, banana exports have dropped due to the conflict between Russia and Ukraine, and the sector is looking towards the Eastern market for growth. The country is also focusing on trade agreements with China and other countries to expand its market reach.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Ecuador in 2022 will exceed 18,000 million dollars of non-oil, non-mining exports, according to Fedexpor. Until October 2022, it managed to increase its sales to two powers: China (80%) and the United States (14%). Although due to the positive figures it can be said that the small country is conquering the world with its products, flavors and quality because there is an increase in exports to the commercial blocks: to Asia it was 64%; to the Middle East, 18%; to North America, 15%; to the CAN, 17%; to Mercosur, 10%, and to the European Union, 3%, according to the Ecuadorian Federation of Exporters (Fedexpor). But in this note, emphasis will be placed on the sales to China and the US that it has achieved, especially shrimp. Despite the fact that the positive numbers of 2022 are at risk for this 2023, if the Government does not take measures to avoid losing competitiveness, according to the exporters. Within the current situation, the sales car to the world is driven by shrimp ...

Source: Expreso