{"id":22119,"date":"2020-04-24T14:17:05","date_gmt":"2020-04-24T13:17:05","guid":{"rendered":"http:\/\/thefreezonechannel.com\/?p=22119"},"modified":"2020-04-24T14:17:05","modified_gmt":"2020-04-24T13:17:05","slug":"ecuador-predicts-sharp-drop-in-foreign-trade","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/ecuador-predicts-sharp-drop-in-foreign-trade\/","title":{"rendered":"Ecuador predicts \u201csharp drop\u201d in foreign trade"},"content":{"rendered":"\n<p><strong>By Xinhua<\/strong><\/p>\n\n\n<p>Ecuador, a country already facing a crisis from the collapse of oil prices, has seen a \u201csharp drop\u201d in both exports and imports due to the novel coronavirus pandemic, Deputy Foreign Trade Minister Daniel Legarda said.<\/p>\n\n\n<p>\u201cThere is a sharp drop. By the end of the year, non-oil imports are going to decrease by around 20 to 25 per cent, while non-oil exports will decrease between 10 and 15 per cent,\u201d Legarda said in an interview with local radio station Radio Centro.<\/p>\n\n\n<p>Figures show that in the first quarter of this year, exports \u201chad a positive performance,\u201d registering \u201crelevant growth of slightly more than 10 per cent,\u201d mainly driven by bananas, shrimp, and cacao, he said.<\/p>\n\n\n<p>However, in April the figures \u201care showing us a different reality,\u201d with preliminary numbers indicating that exports fell by 250 million to 300 million U.S. dollars, he added.<\/p>\n\n\n<p>Legarda blamed the dismal performance on closed markets and a drop in demand, as well as internal factors, such as difficulties in transporting goods given the curfew imposed on March 16 to slow the spread of the virus.<\/p>\n\n\n<p>Globally, the frequency of air and sea transportation has been cut, and all of that adds up to lower activity in import-exports, said Legarda, who is also the former president of the Ecuadorian Exporters Federation.<\/p>\n\n\n<p>Imports were hit not just by the pandemic but also by the country\u2019s own slowing economy, he said.<\/p>\n\n\n<p>The government has forecast a 4 per cent contraction in economic activity in 2020.<\/p>\n\n\n<p>Up to March, imports fell between 350 million and 400 million U.S. dollars, then plunged further in April to surpass 500 million U.S. dollars, according to the official.<\/p>\n\n\n<p>Ecuador, now in its fifth week of lockdown, has reported 11,183 confirmed cases of COVID-19 and 560 deaths from the disease as of Thursday.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Xinhua Ecuador, a country already facing a crisis from the collapse of oil prices, has seen a \u201csharp drop\u201d in both exports and imports due to the novel coronavirus pandemic, Deputy Foreign Trade Minister Daniel Legarda said. \u201cThere is a sharp drop. By the end of the year, non-oil imports are going to decrease [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22133,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[126],"tags":[],"class_list":["post-22119","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trade-and-industry","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ecuador predicts \u201csharp drop\u201d in foreign trade - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/ecuador-predicts-sharp-drop-in-foreign-trade\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ecuador predicts \u201csharp drop\u201d in foreign trade - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"By Xinhua Ecuador, a country already facing a crisis from the collapse of oil prices, has seen a \u201csharp drop\u201d in both exports and imports due to the novel coronavirus pandemic, Deputy Foreign Trade Minister Daniel Legarda said. \u201cThere is a sharp drop. 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