Importance of the role of foreign trade to promote economic growth in Ecuador

Abstract

Introduction. Foreign trade involves the exchange of goods and services between countries, promoting economic globalization and generating opportunities for growth, competition, and collaboration at an international level. Aim. Analyze and promote the opening of markets, economic collaboration between nations with the purpose of promoting growth, increasing efficiency, and facilitating access to goods and services on a global scale. Methodology. The methodology used in this study consisted of conducting a descriptive, bibliographic, and analytical documentary review, focused on the collection and analysis of documents and information. Results. Regarding Ecuadorian exports, the United States leads as the main destination for oil, representing 42%, followed by Panama and Chile. Regarding non-oil exports, China emerges as the main recipient, accounting for 28.5% of these products. Shrimp tops the list of main exported items, with a value of 1,149.2 million dollars, followed by lead and copper concentrates with 294.0 million dollars, and other mining products with 52.5 million dollars. The United States is positioned as the second destination for non-oil exports, representing 19.1% of the total. Among the products highlighted to this country are shrimp (326.3 million dollars), bananas (125.7 million dollars), gold (90.5 million dollars) and flowers (86.9 million dollars). This scenario reflects the diversity and relevance of Ecuadorian exports in the international arena. Conclusion. International trade agreements and free trade involve the creation of a global environment that favors the opening of markets, elimination of barriers and facilitates the exchange of goods and services to promote economic development. General study area: Management of organizations with social responsibility, entrepreneurship, and innovation. Specific study area: Quality, Productivity, Social Responsibility and Marketing.