Colombia overtakes Russia as destination for Ecuador’s non-oil exports
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Quito, 20.9. Colombia overtook Russia as the fourth destination for Ecuador’s non-oil exports, according to a report released Tuesday by the Ministry of Production, Foreign Trade, Investment and Fisheries.
From January to July 2022, Ecuadorian exports to Colombia reached 544 million dollars, 29.22% more than in the same period of 2021, compared to 529 million dollars from Russia, which is -4.86% compared to the first seven months of the year corresponds to the previous year.
This has allowed Colombia to oust Russia as the fourth most important destination for Ecuadorian non-oil exports (excluding crude oil sales), after that country has held that spot for the same January-July period for the past four years.
The main non-oil export products from Ecuador to Colombia are canned fish at $90 million (-1.8%); followed by wood products at $72 million (+29.2%); and metal products at $61 million (+42.2%).
Ecuadorian exports to Russia have been affected by the war started by that country in Ukraine, with the exception of bananas, whose sales reach $427 million, up 8.9% on the same period in 2021.
Ecuador, the world’s top banana exporter, had Russia as the second most important target market for this fruit in 2021 with sales of almost $700 million, behind only the European Union.
Ecuadorian non-oil exports to Russia that have suffered from the war include shrimp (-22%) and natural flowers (-46%).
In the general calculation, Ecuador’s exports reached $19,590 million between January and July, up 31.8% compared to the data for the first seven months of 2021, which is on track to surpass the historic record of $26,699 million , with which it closed last year.
If only non-oil exports are considered, the report reflects $12,388 million between January and July, a 26.4% increase over the same period in 2021.
The most exported products are shrimp with 4,500 million dollars (+65%); Bananas at $1,869 million (-6.6%); canned fish at $807 million (+7.2%); copper concentrate at $773 million (+75%) and natural flowers at $576 million (+3.6%).
CHINA DISBANKTS THE US
There is also primarily a change of position in this report where China has supplanted the US as the main destination for Ecuador’s non-oil exports.
Between January and July this year, Ecuador exported $3,422 million to the Asian country, which is practically the same amount as in all of 2021 and 97.9% more than in the same period.
This growth in Ecuadorian exports to China was helped by products such as shrimp at $2,360 million (+127.2%); Lead and copper concentrate at $730 million (+79.8%) and other mining products at $104 million (+89.5%).
Sales to the United States also increased, albeit to a lesser extent, as January-July exports totaled $2,570 million, an increase of 16.2% compared to the same months last year.
The North American country’s most demanded products were shrimp at $936 million (+28.2%); bananas at 248 million (-8.9%); and natural flowers at 234 million (-2.3%). EFE