Structural development of international trade between Colombia and Ecuador; agroindustrial and food growth and diversification potential
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Abstract
This study examines the recent structural dynamics of foreign trade between Colombia and Ecuador, utilizing both qualitative and quantitative methods grounded in data spanning the last 33 years. It assesses shifts in trade structure and evaluates indicators of export potential and diversification through the Product Space methodology. This analysis is framed within the context of the ongoing reconfiguration of global economic and trade processes. The findings indicate a steady increase in
bilateral trade, revealing differing circumstances for Colombia, which maintains consistent surpluses, in contrast to Ecuador’s situation. The analysis underscores the limited structural transformation in the export supply of both nations, which remains
primarily focused on products from the primary sector, agroindustry, and basic industry. The Export Growth and Diversification Indicators demonstrate significant potential in agro-industrial products, as well as in agricultural sectors like grains and various manufacturing industries, encompassing food products, electronic devices, and minerals. These sectors are vital for enhancing and expanding intraregional trade, promoting commercial diversification, and adding value to key products.
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