Economy & Business - May 2009 (ISSN 1741-7430)
ECUADOR: Squeezed by falling oil revenues
The economy is being squeezed by the fall in oil revenues. In the first quarter of 2009, total export revenues fell 44% year-on-year, with oil revenues down 66% year-on-year. Non-oil revenues were down just 4.5%, according to figures from the Cámara de Industriales de Pichincha.
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