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Exports and Deficits

Ecuador's oil exports for January 2003 totaled $186.29 million. That's a 79% increase from January 2002. Ecuador exported 6.67 million barrels in January 2003, and that was down 6% from January 2002. What does that tell you about the price of oil? Oil is Ecuador's largest export. Ecuador is the world's largest exporter of bananas. Another major export is shrimp. Shrimp exporters reported an increase in sales from last January, and are expecting a 30% increase in sales this year.

Despite all that, Ecuador posted a $138 million trade deficit in January 2003. That compares with a $148 million trade deficit in January 2002.