Foreign Direct Investment in Ecuador fell in the last quarter of 2021

Despite the fact that the President of the Republic, Guillermo Lasso, announced that in his four years in office, private investment in the country would reach USD 30,000 million, in the last quarter of 2021, Foreign Direct Investment (FDI) plummeted , even reached levels below 2020, the year of the pandemic.

According to data from the Central Bank of Ecuador (BCE), Foreign Direct Investment (FDI) in the third quarter of 2021 reached USD 493 million. If compared to the same period in 2020, the figure falls by USD 126 million, that is, 20% less.

The sectors in which the most was invested in the last three months of 2021 were in the manufacturing industry with USD 138 million; services provided to companies with USD 109 million and the exploitation of mines and quarries with USD 72.9 million.

The Minister of Production, Foreign Trade and Investments, Julio José Prado, indicated that the interest of local and international private investments is exceeding all expectations, but apparently nothing concrete exists yet.

From January to November 2021, investment contracts for more than USD 2,000 had been approved, but no distinction was made whether they were local or foreign contracts.

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