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COVID-19 did not stop exports, but affected growth in Ecuador- Ecuador Times

Date: Jun 9, 2020

The amount of losses for the national productive sector during the COVID-19 quarantine is one of the few issues on which the private unions and the Government coincide. Until now the lost profit is estimated at more than $ 12.5 billion.

It is that around 70% of the productive apparatus was paralyzed with the pandemic, according to figures from the Federation of Ecuador’s Chambers of Commerce given last month.

30% of companies continued to produce in the midst of the emergency that meant the absence of workers, fewer customers, and more security measures. Thus, the shipment of traditional export products, such as bananas, cocoa, shrimp, fish, canned goods, did not stop, also feeling an economic impact.

According to Felipe Ribadeneira, president of the Ecuadorian Federation of Exporters (Fedexpor), all exportable supply was affected by the weakening of international demand and the problems of reducing operating capacity in industries.

To read the full article on Ecuador Times, click here.