Ecuador: Falling into recession

12/12/2016 - Report
ic_blogtagEcuadorCountry RiskCurrencyImportsOil & GasRecession

​Ecuador faces significant downside risks due to constrained export and fiscal revenues due to lower crude oil prices (oil accounts for around 30% of government revenues). The appreciation of the USD has negatively affected export competitiveness, especially with neighbors (Colombia and Peru). Euler Hermes expects a recession of -2.3% in 2016, after meager growth of +0.3% in 2015. ​

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