Ecuador lows banana sales to Argentina and Bolivia takes advantage

Ecuadorian banana exporters have reduced the shipment of the fruit to Argentina. It favours Bolivian producers who have increased exports by 35 per cent; the price also rose from $2.80 to $3.40 per box. Currently, producers send 1.9 million kilos of bananas per week to Argentina. In the first half of 2020, the economic crisis aggravated by the Covid-19 pandemic caused the Argentine market to decrease the purchase of national bananas by approximately 70 per cent, and a financial loss of $21 million was estimated.

Beverage smuggling causes loss of $118 mn per year

Every year the State loses 118 million dollars because of alcoholic beverage smuggling, according to a study by the firm Euromonitor International. The beer industry is the most affected by the illegal entry of products into the country, between 2016 and 2019, beer smuggling increased by 39%. The market for unlawful alcoholic beverages represents 15.4% of the total consumed in the country, which exceeds 4.3 million hectoliters.

Budget 2021 authorizes $3 bn debt

The General State Budget (PGE) 2021, modified by the government of Luis Arce, authorizes the issuance of securities in the external capital markets for three billion dollars. The revised bill also improves macroeconomic variables by setting growth at 4.8% for 2021 and an inflation rate of 3.1%.