WORLD TRADE  
ORGANIZATION  WT/BOP/G/15/Rev.1/Add.1 
9 June 2009 
 
 (09-2773) 
Committee on Balance-of-Payments Restrictions Original:   Spanish 
  
 
CONSULTATIONS WITH ECUADOR 
 
Basic Document Supplied by Ecuador
 
 
OVERVIEW OF THE SITUATION AND OUTLOOK FOR THE 
BALANCE OF PAYMENTS TAKING INTO ACCOUNT 
INTERNAL AND EXTERNAL FACTORS THAT 
AFFECT THE SITUATION 
 
Addendum  
 
 WT/BOP/G/15/Rev.1/Add.1 
Page 2  
 
  ANNEX 1 
 
REPORT ON IMPORTS UNDER THE BALANCE-OF-PAYMENTS 
SAFEGUARD MEASURE 
  
1. Imports covered by the balance-of-payments safeguard measure decreased by 27.8 per cent 
during the period from January to May 2009 in comparison to 2008.  In absolute terms, this represents 
US$403 million.  Imports under the measure decreased  from an overall total of US$1,456,000,000 in 
2008 to US$1,049,000,000 in 2009. 
2. The graph below illustrates the monthly trend under the measure.  It shows that during the 
first two months of this year there was no subs tantial reduction in imports (US$24 million) in 
comparison to 2008, since the measure was implem ented on 23 January of this year.  However, 
between March and May there was a sharp dec line, amounting to US$379 million, and the trend 
would suggest that the decline in imports w ill continue through the rest of the year. 
CHART 1 
 
TREND IN IMPORTS UNDER THE BALANCE-OF-PAYMENTS 
SAFEGUARD MEASURE 
January – May 2008-2009 
 
 
 
Source : CAE. VARIATION IN IMPORTS UNDER THE MEASURE  
287 
247301347
271 
187
134 280 
218230
0 50 100 150 200 250 300 350 400 
January  February March April May 
2008 2009 Linear (2009)USD millions  WT/BOP/G/15/Rev.1/Add.1 
 Page 3 
 
 
  ANNEX 2 
 
Non-financial public sector, 2008-2012 
(Millions of dollars) 
FINANCIAL SCENARIOS FOR ECUADOR 
 2008 2009 2010 2011 2012 
Total revenue 21,744 17,029 18,596 20,270 21,692 
 Oil 8,899 3,001 4,296 5,070 5,510 
 Non-oil 11,925 12,790 13,062 13,962 14,944 
 State-owned enterpri ses 920 1,238 1,238 1,238 1,238 
      
Total expenditure 22,345 18,010 18,966 20,179 20,776 
 Current 15,102 12,913 13,565 14,641 15,092 
 Capital and net lendi ng 7,243 5,097 5,401 5,538 5,684 
Overall balance -601 -981 -370 91 916 
     
ABSOLUTE VARIATION      
Total revenue  -4,715 1,567 1,674 1,422 
 Oil  -5,898 1,295 774 440 
 Non-oil  865 272 900 982 
 State-owned enterprises  318 0 0 0 
      
Total expenditure  -4,335 956 1,213 597 
 Current  -2,189 652 1,076 451 
 Capital and net lending  -2,146 304 137 146 
Overall balance  -380 611 461 825 
      
RELATIVE VARIATION      
Total revenue  -22% 9% 9% 7% 
 Oil  -66% 43% 18% 9% 
 Non-oil  7% 2% 7% 7% 
 State-owned enterprises  35% 0% 0% 0% 
      
Total expenditure  -19% 5% 6% 3% 
 Current  -14% 5% 8% 3% 
 Capital and net lending  -30% 6% 3% 3% 
Overall balance  63% -62% -125% 907% 
      
GDP 52,572 50,985 55,759 60,587 65,631 
Real growth 5.3% 2.8% 3.6% 3.7% 5.3% 
      
PERCENTAGE OF GDP      
Total revenue 41% 33% 33% 33% 33% 
 Oil 17% 6% 8% 8% 8% 
 Non-oil 23% 25% 23% 23% 23% 
 State-owned enterprises 2% 2% 2% 2% 2% 
      
Total expenditure 43% 35% 34% 33% 32% 
 Current 29% 25% 24% 24% 23% 
 Capital and net lending 14% 10% 10% 9% 9% 
Overall balance -1.1% -1.9% -0.7% 0.2% 1.4% 
Source : Perspectivas de la Economía Ecuatoriana 2008-2012 (Ecuador, Economic Outlook 2008-2012) .  Prepared with:  
Ministry of Finance, Central Bank of  Ecuador, Ministry of Coordination of  Economic Policy.  Completed with 
provisional data available as at February 2009. WT/BOP/G/15/Rev.1/Add.1 
Page 4  
 
  NFPS expenditure 
 
1. Regarding total NFPS expenditure , current expenditure accounts for the largest share with 
71.2 per cent on average during the period under review.  Current expenditure corresponds to 
operating expenses for the different public entities making up the NFPS. 
2. Capital expenditure accounts for 28.8 per cent of total expenditure during the period under 
review.  Capital expenditure consis ts mainly of public investment by the different agencies of the 
central government. 
3. Regarding nominal growth of expenditure, there was a 19.4 per cent decrease in 2009 as 
compared to 2008, with a reduction in current expe nditure of 14.5 per cent and in capital expenditure 
of 29.6 per cent.  Between 2010 and 2012, total e xpenditure grew by an average of 5 per cent. 
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