Economic policies allow state governments to guide and regulate the economic process of the country they direct in terms of the financial system, public spending, productivity and links with the world economy, the latter aspect being the one that has the greatest impact on the scope of the objectives of economic growth, due to the results obtained from exports and imports of goods and services, which impact the trade balance. In view of the above, this paper aims to analyze the policies of the external sector, through the behavior of Ecuador's Balance of Payment during the 2020 at 2021 period. Methodologically, it is classified as an analytical study, in which the variables: economic policy and balance of payments, are directly observed in the territory where it is developed, Ecuador, in order to collect the information required for the investigative analysis and its subsequent conclusion. This is a documentary type investigation, with a mixed approach, supported by economic data from the Central Bank of Ecuador on current account, capital account and financial account information, during the 2019 at 2021 period. The analysis showed that, during 2020 and 2021, economic policies were implemented towards the external sector aimed at maximizing exports and minimizing imports, achieving surpluses in the balance of payment for both years, although during 2020 there were difficulties due to the drop in the price of oil and the confinement of the population due to the COVID 19 pandemic situation, reflected in a drop in GDP of -7.79%; In addition, the economy recovered in 2021 due to the policies implemented in the external sector and at the internal level, achieving a GDP of 4.2%.
You may also start an advanced similarity search for this article.
