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  • Salaries Up, Jobs Down - WA#04
    Salaries Up, Jobs Down - WA#04
  • At January 2020, the minimum wage in Ecuador is the highest among the eight largest Latin American economies. Ecuador with a $400 monthly salary for a 40 hour work week, best Chile $390 and a 45 hour week. For comparison purposes, we adjust salaries for a 48 hour work week. Extra salaries and other bonuses are no included. (WA#04)

  • A huge increase in shrimp exports, the take-off of industrial mining shipments, and the fall of imports, as business had inventory for what they were unable to sell in October, result in an important foreign trade surplus of $209 mn in November, equivalent to 11.1% of imports. (WA#03)

Welcome to Grupo Spurrier

Grupo Spurrier is the leading company in the development of key solutions and services for business success; it specializes in monitoring the economy and politics of Ecuador, as well as on economic research, market research, consulting and corporate training, models and business plans development, investment plans, and market power law consulting.

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Weekly Analysis Briefs

  • 04.- SALARIES UP, JOBS DOWN

    There was economic contraction and negative inflation in 2019, nevertheless, bowing to tradition and labor expectations, the authorities raised the overall minimum wage and the minimum wages for all economic activities. This time, however, they were more moderate, just 1.5%. Again this year Ecuador has the highest minimum salary of the eight larges...

  • 03.- TRADE SURPLUS IS BACK

    After months of trade deficit or matched imports and exports, in November there is a substantial trade surplus, due above all to booming shrimp exports, but also of non-itemized items among which metal exports. Oil sales played no role. Non-oil imports contracted importantly, reflecting the poor performance of the economy in October and November. ...

  • 02.- NEW GOALS

    The IMF has been understanding of Ecuador's difficulties with adjustment. The new less demanding goal is a fiscal consolidation equivalent to 3.9 percentage points of GDP in the period 2019-2021 (initially they were 5 percentage points). At the same time, the scope of fiscal action is extended to compensate, with more social investment, the cost of...