LatinNews Daily - 19 February 2025

*Ecuador’s federation of exporters (Fedexpor) has announced that the country registered a trade surplus of US$6.68bn in 2024, which it said was the largest since dollarisation in 2000. This consisted of a US$2.96bn trade surplus for oil and a US$3.72bn surplus for non-oil products. The non-extractive sector, which excludes oil and mining, registered a record US$21.75bn in exports, up 16% from 2023. Sectors which saw a large increase in exports included agriculture (+33%, largely due to higher prices for cacao), manufacturing (+9%, driven by increased exports of wood and plastics), and services (+6%, led by consultancy services). The largest market for non-extractive exports was the European Union at US$5.51bn (+38% year-on-year), followed by the US (US$4.58bn, +15%), China (US$3.73bn, -14%), Russia (US$898m, -3%), and Colombia (US$837m, +14%).