Economy & Business - April 2022

ECUADOR: Ukraine war brings mixed fortunes for exporters

After higher-than-expected GDP growth of 4.2% in 2021, in late March Ecuador’s central bank (BCE) published its growth expectations for 2022, forecasting a more modest 2.8% increase. Crucially, the BCE highlighted that this forecast factors in “the impact of the conflict between Russia and Ukraine” on the country’s exports, which has been contradictory. While the war has severely disrupted Ecuador’s non-oil exports to Russia, which amounted to US$1bn in 2021, it has also pushed crude prices to levels not seen in years, increasing the flow of dollars into the treasury.

End of preview - This article contains approximately 601 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

Intelligence Research Ltd.
167-169 Great Portland Street,
5th floor,
London, W1W 5PF - UK
Phone : +44 (0) 203 695 2790
You may contact us via our online contact form
Copyright © 2022 Intelligence Research Ltd. All rights reserved.