- March 10, 2022
- Posted by: medium
- Category: National
March 10, 2022
March 10, 2022
Such figures are now reeling from the consequences of Russia's invasion of Ukraine, a conflict that has been going on for two weeks and it is not yet known how long it could last, and for which the first nation has received international sanctions in response.
Such figures are now reeling from the consequences of Russia's invasion of Ukraine, a conflict that has been going on for two weeks and it is not yet known how long it could last, and for which the first nation has received international sanctions in response.Such figures are now reeling from the consequences of Russia's invasion of Ukraine, a conflict that has been going on for two weeks and it is not yet known how long it could last, and for which the first nation has received international sanctions in response.
“It affects not only the economies of Russia and Ecuador, but the entire world, because in the 21st century most world economies are connected… One sees that partners of Ecuadorian exporters that offer ships, containers, refuse to continue their operation with Ecuador and the same problem appeared with payments for Ecuadorian products”, says Sprinchan.
“It affects not only the economies of Russia and Ecuador, but the entire world, because in the 21st century most world economies are connected… One sees that partners of Ecuadorian exporters that offer ships, containers, refuse to continue their operation with Ecuador and the same problem appeared with payments for Ecuadorian products”, says Sprinchan.
According to the National Association of Producers and Exporters of Flowers of Ecuador (Expoflores), they alone, until the last week of February, were owed $33 million from customers in Russia and Ukraine.
Sprinchan comments that his country is looking for the best way to counteract the "economic war" it is experiencing, in reference to the economic sanctions imposed by the United States and several European countries on his government. The Ecuadorian Federation of Exporters (Fedexpor) estimated that before the total closure of trade with Ukraine, the seventeenth destination of Ecuadorian exports, will stop exporting $ 2.4 million weekly. Not counting the impacts on shipments to the Russian market, the fourth most important for Ecuador, exacerbated by the devaluation of its currency, the ruble.
In 2021, non-oil exports to Ukraine also grew by 15.3% compared to 2020, generating $124 million.
In 2021, non-oil exports to Ukraine also grew by 15.3% compared to 2020, generating $124 million.
In 2021, non-oil exports to Ukraine also grew by 15.3% compared to 2020, generating $124 million.
An analysis by Oikonomics Economic Consulting indicates that Russia represents for Ecuador the origin of 39% of imports of these materials. While there would be no major impact on imports from Ukraine as it is not a significant trading partner. From that country, $2 million worth of chemicals, oils, sugar syrup, alarms and other metal products were imported last year.