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2014 RECORD YEAR FOR NON-OIL ECUADORIAN EXPORTS TO THE US

According to public data released by the Central Bank of Ecuador (CBE), bilateral trade Ecuador-US, in 2014, had a growth of 6.1% over the previous year, reaching a total of 19.632 million dollars.

If the oil trade is excluded, growth in 2014 is 12.6% higher compared to 2013, with a total value of 7,760 million. In the same period of comparison, non-oil exports Ecuadorian products grew 36.3% to the sum of 3.473 million dollars.

Data published by the ECB allow to observe the consolidation of a trend that places the US market as one of the main destinations for Ecuadorian products. This is particularly important when speaking of non-oil products, because the United States takes first place as a destination for these products.

Expectations of consolidation and strengthening of the market for 2015 remain positive, considering the fact that the Generalized System of Preference (GSP) that benefits more than 120 developing countries could be renewed by the US Congress in the upcoming months, benefiting several Ecuadorian products that lost competitiveness due to the suspension of the trade preferences program since July 2013.

To the above it is also expected that the competent authorities of the United States also approve phytosanitary protocols that will allow the entry of new products such as uvilla, dragon fruit, blackberry, raspberry among others, which are also representative and particularly important for the sectors of popular and solidarity economy in Ecuador.

In this scenario, the recovery of the US economy compared to projections with other countries of importance for Ecuadorian exports, could also play an important role in the consolidation of bilateral Ecuador-US trade expectations.