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Market Update: Ecuador Trade Balance Swings to Surplus in April
Ecuadors trade balance shifted to USD 162.3 billion surplus in April of 2021 from USD 66.6 billion deficit in the corresponding month of the previous year. Exports surged by 89.9 percent to USD 2,099 million, boosted by a rise in the sales of primary goods (84.4 percent), namely crude oil (684.4 percent), and of manufactured goods (112.9 percent).Imports soared 65.1 percent over a year earlier to USD 1,935 million, due to low baseline effects from the pandemic outbreak, driven by steep increases in the purchases of consumption goods (78.35 percent), particularly durables (295 percent), and raw materials (45.34) and capital goods (80.89). source: Banco Central del Ecuador [/s2If]
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