Exports from Ecuador to Venezuela takes deep plunge

Posted on March 18, 2014 • Filed under: Business, Ecuador, Venezuela

WSJ.com reported that Ecuador’s exports to Venezuela last year was more than halved to $464 million as political and economic turmoil in Venezuela and a crackdown at home on the fraudulent use of a virtual currency took their toll. Having benefited in the past from weak production in Venezuela, a niche market where it has become necessary to import just about everything, Ecuadorean exporters say Venezuela has become a headache for them as they suffer losses from harsh currency controls and cumbersome paperwork there. Read Article

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