Weekly Report - 17 February 2011 (WR-11-07)

ECUADOR | Exports recover but outstripped by imports. Exports grew by 26% to US$17.37bn in 2010 on the previous year, according to the central bank. The increase owed largely to a 36% surge in oil prices, leading to a 38.5% increase in crude exports to US$9.65bn. Crude exports accounted for 56% of total exports, underlining the country's dependence on high prices. Exports of non-petroleum products grew by 13% to US$7.72bn: bananas, at US$2.03bn; shrimp, at US$829m; oil products, at US$721m; and fresh flowers, US$598m. Ecuador posted a trade deficit of US$1.49bn in 2010, up by more than 400% on 2009, as imports rose 34% to US$18.86bn.