Ecuador Increases Its Non-Petroleum Exports

Ecuador has been increasing its exports of non-petroleum products, with a 17 percent increase in 2014 over 2014 according to the Ecuadorean Federation of Exporters (Fedexpor).

Ecuadorean products well-known for their quality in international markets include bananas, shrimps, cacao, broccoli, flowers and coffee.

“We believe that non-petroleum exports are really productive mainstay of the country. We are talking about a sector that generates, in non-petroleum exports, directly about 1.3 million jobs, that involves more than 2,600 businesses. It is an example of internationalization, and the strength of business in our country,” said Daniel Legarda, the Executive Vice President of Fedexpor, in an interview with teleSUR English.

Agricultural goods experienced the greatest increase, while industries such as textiles, remained stagnant.

Javier Diaz of Ecuador's Association of Industrial Textiles, believes that his sector will become increasingly key in government priorities in its efforts to diversify its traditionally oil-based economy.

“Our industry is definitely strategic. Textiles are industrialized, we should be considered within policies to diversify the economy. Because we are an industry that exists, we are an industry that generates many of the things that the government is seeking to generate through diversification,” said Diaz to teleSUR English.

He went on to say, “We generate added value, we generate productive binds. We can improve exports, we can substitute imports. You can say that we are a sector that works perfectly to diversify the economy.”

Exports to the divided blocks and countries of China, the Middle East and Asia rose significantly in the past year. China experienced increases of 91 percent, the Middle East 81 percent and Asia at 66 percent.

To Europe and Russia, exports declined by 15 percent and 5 percent.

Total exports, including petroleum, reached US$22.03 billion in 2014, representing a 6.6 percent increase from the same period in 2013.

With total non-petroleum exports of US$10.3 billion last year, Ecuador is looking to increasingly promote its goods in international markets and further diversify its economy.