Ecuador Reports Trade Surplus

Quito, Sep 13. -The Central Bank of Ecuador reported that the country had a 6.5 million USD trade surplus for the first seven months of the year.The report posted on the bank's website said the surplus reflected a 101.05 percent recovery from the deficit reported in the same period of 2010.

The trade balance recovery is related to an increase in oil exports, according to the figures published by the bank, which registered oil trade surplus of 4.4 billion USD from January to July of this year.

The Central Bank also said that fuel and lubricants imports increased by 29.12 percent f.o.b. and decreased in volume by 5.36 percent.

In nonoil trade, Ecuador posted a 15.07 percent increase in its trade deficit for the first seven months of this year compared to the same period last year, from -3.783 million USD to -4.353 million USD.

Total exports (f.o.b.) in this period rose to 12.7 billion USD for a 27.52 percent increase compared to the same period in 2010.

Total imports (f.o.b.) rose to 12.6 billion USD, an increase of some 2 billion USD compared to the same period in 2010. (Prensa Latina)