Crustaceans became the first non-oil product to cross the $4 billion foreign shipments barrier.
shrimp is main product of non-oil exports in 2021. With the good performance recorded until October, bananas continued to displace bananas to second place. In fact, this leadership has maintained that since 2019 when more shrimp than fruit were shipped.
In the first ten months of the yearShrimp sector shipments were valued at $4,174 million, an increase of 32% compared to 2020 when $3,168 million was exported. number too register In the history of crustacean sales abroad, the amount reached in October is 62% higher if the amount sent in the whole of 2016 is taken into account.
file data Central Bank of Ecuador (BCE) Detect this behavior:
Millions of dollars
(only from january to october)
Jose Antonio Camposano, President National Chamber of Aquaculture (CNA), indicates that this behavior is due to the “rebound effect” that has occurred since February due to the recovery in demand, especially in hotels and restaurants in China, USA and Spain, added to a higher load of shrimp for the slice selling by pieces.
The additional factor that drove this rise was Business Commitment for investment. the private investment In the ripening factories, farms and processing plants also pay good performance. However, Camposano stresses that the challenge to be overcome is the logistical problem that affects the whole export chain.
According to the head of the Cyprus News Agency, the figures reached will be affected in The last two months of the year and the entire first half of 2022 Because of the crisis of containers and spaces to send the product. Currently there are disadvantages to export between 30% and 50% of national production.
As of October 2021, Ecuador’s total trade balance recorded a positive balance of $2,332 million. This is a result of Trade surplus of $3,827 million In the oil balance and a deficit of $1,495 million in the non-oil balance, according to data from the Central Bank of Ecuador (BCE).
In ten months of the year, Total exports (oil and non-oil) The share of the state grew by 31%, compared to the same period in 2020, which gave a figure of $21.558 million. In the same period last year, $16,458 million was sent abroad.
within non-oil exports, The products that grew between two numbers, in addition to shrimp, were coffee, cocoa, tuna, fish, and flowers. In terms of conventional non-oil cargo shipments, the stellar product was those of the mining sector.
The agreement with the European Free Trade Association will enter into force on November 1
Countries most in demand of Ecuadorean products
Between January and October of this year, according to the European Central Bank, Panama It was one of the countries most in demand for goods from Ecuador. In 2021, the country bought $3.530 million from the state, which is a high number if one takes into account that in 2019 $1,610 million was exported to that country.
Other destinations that performed well in the first 10 months of the year were Canada and member states of the European Free Trade Association (EFTA). With this last block, Ecuador maintains an agreement in force since November 1, 2020, which allowed for an increase in exchange last year. (I)