
Ecuador countered a worst economic downturn in 2020 due to the COVID-19 pandemic but is all set to rebound in 2021 as domestic and external demand gradually revives. Though, aspects of numerous risks linger which includes high unemployment, weighing on household spending, limited fiscal space to boost the recovery, and policy uncertainty ahead of February 2021 elections. FocusEconomics panellists project GDP to expand by 3.7% in 2021, which is up 0.6% points from last October’20 forecast. In 2022, the panel sees GDP growth moderating to 2.4%.

The west coastal Latin American nation’s import of aluminium stranded wire during 2018-19 was recorded at 2995 tonnes and the revenue expenditure stood at $5.10 million. The import for 2020 remained at 2566 tonnes and the earning accounted to $3.23 million. However, when the import volume and expenditure of 2020 gets merged with the preceding two years, it denotes 5561 tonnes and $8.33 million respectively.

Ecuador’s import of aluminium stranded wire in 2018 remained at 1118 tonnes and the expenditure stood at $3.04 million, whereas, in 2019, the import saw a rise by 67.88%, as the import volume increased to 1877 tonnes, while the expenditure fell to $2.06 million.
The import for 2020 revealed an enterprising growth by 36.70%, as the import volume grew to 2566 tonnes and the expenditure also rose to $3.23 million.
Ecuador’s major trading destinations for the import of Aluminium stranded wire are Chile, China and Colombia.
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