Terms of Trade: a thermometer of economic prosperity in Latin America and the Caribbean<\/strong><\/a><\/p>\n\nThe balance of trade relations is positive for Colombian producers. DANE statistics show that our country has a growing trade balance with the neighboring country. Between 2002 and 2022, the annual trade surplus increased from USD $442 million to more than USD $930 million.<\/p>\n\n
The productive activities that benefit most from the trade relationship with Ecuador are the food industry, the manufacture of chemical substances and products, the manufacture of motor vehicles, and the rubber and plastics industry.<\/p>\n\n
Ecuador: an attractive market for Colombian industry<\/h2>\n\n
Colombia\u2019s manufacturing exports to Ecuador grew at an average annual rate of 5.96% between 2002 and 2022, according to DANE reports. Chemical, food, automotive and pharmaceutical industries accounted for 55% of sales.<\/p>\n\n
The most successful group<\/strong> of Colombian products in the Ecuadorian market comes from the manufacture of chemical substances and products<\/strong>, which accounted for 22% of Colombia\u2019s manufacturing exports to Ecuador between January 2021 and December 2022.<\/p>\n\nFrom beauty and home care products, to the manufacture of plastics, to the supply of agricultural inputs, the list of leaders in this market includes companies such as Colgate – Palmolive, Corteva Agriscience, Esenttia, Mexichem Resinas de Colombia, Bayer and Yara Colombia.<\/p>\n\n
Following DANE figures, the food industry ranked second<\/strong> in Colombian exports to Ecuador, with 16.6% between 2021 and 2022.<\/p>\n\nCompanies such as Colombina, Ingredion Colombia, Compa\u00f1\u00eda de Galletas Noel, Federaci\u00f3n Nacional de Cafeteros, Compa\u00f1\u00eda Nacional de Chocolates and QBCO led sales between 2021 and 2022, in sectors such as the processing of oils and fats of vegetable and animal origin, cocoa industry, coffee, bakery and animal feed concentrated more than half of the transactions.<\/p>\n\n
The third group<\/strong> of Colombian manufactured goods with the highest exports to the Ecuadorian market is vehicles<\/strong>. With sales close to US$410 million between 2021 and 2022, this market is led by companies such as Renault, Hino, GMC and Toyota.<\/p>\n\nThe chemical industry<\/strong> follows in the list, in fourth place<\/strong>. Companies such as Procaps, Tecnoqu\u00edmicas, Laboratorios La Sante, Genfar, Merck and Vitalis, lead a market with sales of close to USD $100 million per year.<\/p>\n\nThe remaining 45% of manufacturing exports are in electrical appliances and equipment, rubber, plastic, paper and cardboard products, textiles and clothing, machinery and equipment, metallurgy, among others.<\/p>\n\n
Among the companies that made the largest sales of this type of manufactured goods to Ecuador are Eliot – Pat Primo, Tenaris Turbocaribe, Centelsa, Kimberly, MABE, ARCLA, Cart\u00f3n de Colombia, Schneider Electric de Colombia and Procables, among others.<\/p>\n\n
A relationship to be leveraged<\/h2>\n\n
In a world where global interests play an important role in intergovernmental relations in Latin America, it is essential that Colombia be attentive to the results of these elections and their possible repercussions on its trade and regional stability.<\/p>\n\n
Colombian exporters must be prepared to adapt to any changes that may arise and keep a constant watch on political developments in Ecuador and the region in general.<\/p>\n\n
Keep reading: Colombia\u2019s exports fall sharply in the first half of 2023: the three main destinations bought much less<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"In the last two decades, Ecuador was Colombia\u2019s sixth most important trading partner after the United States, China, Mexico, Brazil and Venezuela. The development of the electoral race in the neighboring country will be decisive for more than 2,700 Colombian exporters.<\/p>\n","protected":false},"author":1,"featured_media":27295,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"rank_math_focus_keyword":"Ecuador","rank_math_title":"","rank_math_description":"","rank_math_primary_category":"751","footnotes":""},"categories":[751],"tags":[1281],"mc_distribution":[687,989],"class_list":["post-36241","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-colombian-exports","tag-articulo-en","mc_distribution-gerentes-y-propietarios","mc_distribution-suscriptores-generales"],"acf":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/mascolombia.com\/en\/wp-json\/wp\/v2\/posts\/36241","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mascolombia.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mascolombia.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mascolombia.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mascolombia.com\/en\/wp-json\/wp\/v2\/comments?post=36241"}],"version-history":[{"count":0,"href":"https:\/\/mascolombia.com\/en\/wp-json\/wp\/v2\/posts\/36241\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mascolombia.com\/en\/wp-json\/wp\/v2\/media\/27295"}],"wp:attachment":[{"href":"https:\/\/mascolombia.com\/en\/wp-json\/wp\/v2\/media?parent=36241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mascolombia.com\/en\/wp-json\/wp\/v2\/categories?post=36241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mascolombia.com\/en\/wp-json\/wp\/v2\/tags?post=36241"},{"taxonomy":"mc_distribution","embeddable":true,"href":"https:\/\/mascolombia.com\/en\/wp-json\/wp\/v2\/mc_distribution?post=36241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}