QUITO – Foreign direct investment in Ecuador totaled $568 million in 2011, a sharp increase from the $158 million in 2010, the Central Bank said Tuesday.
Economists said that the increase is important but is temporary and insufficient for the development of the Andean country.
The Central Bank said the key oil and mining sector received $346 million last year, followed by manufacturing, with $101 million; trade, with $65 million and construction, with $50 million, while other sectors received lesser amounts.
The transportation sector saw a net $44 million taken out of the country, while $12 million from the electricity, gas and water sector left the country during 2011.
The Central bank said that $217 million of the FDI last year came from Canada; $79 million from China and $71 million from the United States, with the remainder from other countries.