Export to Ecuador
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NAME: Ecuador
CAPITAL: Quito
POPULATION: 14,204,900 (June 2010 est.) – www.bnamericas.com
MAIN CITIES: Quito, Guayaquil, Cuenca
MAIN LANGUAGE: Spanish
CURRENCY: US Dollar (USD)
TIME ZONE: GMT-5
DIALLING CODE: +593
INTERNET DOMAIN: .ec
ECONOMY
Ecuador has a large amount of natural resources, biodiversity and culture. The Economy is based largely on agriculture, fishing and mining.
KEY INDUSTRIES:
- Petroleum
- Food processing
- Textiles
- Wood products
- chemicals
EXPORTS – COMMODITIES
- Petroleum
- Bananas
- Cut flowers
- Shrimp
- Cacao
- Coffee
- Hemp
- Wood
- Fish
IMPORTS – COMMODITIES
- Industrial materials
- Fuels and lubricants
- Non-durable consumer goods
EXPORTS – PARTNERS
- US 34.41%
- Peru 10.05%
- Chile 7.15%
- Panama 5.3%
- Colombia 4.58%
- Russia 4.11% (2009)
IMPORTS – PARTNERS
- US 26.93%
- Venezuela 10.15%
- Colombia 9.42%
- China 8.02%
- Brazil 4.35% (2009)
| SOCIAL ACCOUNTING | |
| Unemployment Index: | 7.7% (Jun 2010) |
| GDP PPP: | 108,979 MM US $ 2009 (IMF) |
| PIB Per capita PPP: | 7,719 US $ 2009 (IMF) |
| Last GDP Growth Rate: | 0.5% (2010 IMF) |
| GDP Growth Forecasting: | 1.5% (2010 IMF) |
| Economic Activity Rate: | 26.07% (Change 12 month May 2010-2009) |
| Interest Rate: | 0.20% (Jul 2010) |
| Exchange Rate: | 25,000 (ECS/USD) Closing Jun 2010 |
| INFLATION | |
| Versus Last Month Change: | -0.01% (Change Jun – May 2010) |
| Versus Last Quarter Change: | 3.3% (Change Q2 2010) |
| 12 Month Change: | 3.3% (Change 12 month Jun 2010 – 2009) |
| Annual Target Rank: | N/A |
| FOREIGN TRADE | |
| Total Exports: | 6.986,45 MM US $ (Accumulated to May 2010) |
| Total Imports: | 6.879,74 MM US $ (Accumulated to May 2010) |
| Balance of Trade: | 107 MM US $ (Accumulated to May 2010) |
| Balance of Payments: | 215 MM US $ (Q1 2010) |
| Current Account: | 174.1 MM US $ (Q1 2010) |
| OTHER INTERESTING TIPS | |
| TREATIES AND INTERNATIONAL AGREEMENTS: | |
| Custom Agreement | |
| Andean Community | |
| Member of: | |
| CAN, G-77, IMF, UNASUR, WTO, IBRD, OPEC, IADB, IAEA | |
| Country Risk : | |
| Agency: | Fitch |
| Qualification: | CCC |
| Stable | |
| Agency: | S&P |
| Qualification: | CCC+ |
| Stable | |
| Agency: | Moody’s |
| Qualification: | Caa2 |
| Stable | |
| INTERNATIONAL RANKINGS | |
| Corruption Perceptions Index (International Transparency): | |
| Global Ranking Position: | 146° (2009) |
| Latin America Ranking Position: | 17° (2009) |
| Easy of Doing Business Index (World Bank): | |
| Global Ranking Position: | 138° (2010 Report) |
| Latin America Ranking Position: | 15° (2010 Report) |
| Global Competitiveness Index Rankings (World Economic Forum): | |
| Global Ranking Position: | 105° (2009 – 2010 Ranking) |
| Global Ranking Position: | 105° (2008 – 2009 Ranking) |
| Latin America Ranking Position: | 15° (2009 – 2010 Ranking) |
| Latin America Ranking Position: | 16° (2008 – 2009 Ranking) |
Source: www.bnamericas.com
ONLINE SOURCES
Ministry of Economy & Finance – www.minfinanzas.ec-gov.net
Ministry of Tourism – www.turismo.gov.ec
Equador Tourist information – www.equador.com
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