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Country name:

conventional long form: Republic of Ecuador
conventional short form: Ecuador
local long form: Republica del Ecuador
local short form: Ecuador

 

Description:

Ecuador is bordered to the north by Colombia, to the east and south by Peru, and to the west by the Pacific Ocean. The Andes running from the Colombian border in the north to Peru in the south have two main ranges - the Eastern and Western Cordilleras, divided by the Avenue of Volcanoes. The coastal plain between the Andes and the Pacific is covered by tropical forests and plantations of bananas, cacao, coffee and sugar. The Amazon jungle comprises 36% of Ecuador's land area, but contains only 3% of the population. Colonisation is, however, increasing in the wake of the oil boom
 

 

Capital:

Quito. Population: 2.1 million (2008 estimate).
 

 

Location:

Western South America, bordering the Pacific Ocean at the Equator, between Colombia and Peru

 

Area:

272,045 sq km (105,037 sq miles).

 

 

 

Map of Ecuador

Population:

13.8 million (2007 estimate).

 

Languages:

Spanish is the official language, but Quichua (Kichwa) and other indigenous languages are common.
 

 

Economy- Overview:

Following economic crisis and poverty, the adoption of the US Dollar (in 2000) has stablised the nation's economy. However, 38% of the population are still below the poverty line (2006). Growth was at 3.4% in 2008, with unemployment at 8.7% and inflation at 8.6%.
Ecuador has substantial petroleum resources, which has earned more than a half of the country's export revenue in recent years. It is the world's largest exporter of bananas and also grows coffee, cocoa, palm oil and sugar in significant quantities.
Fishing is another important sector: seafood exports have expanded rapidly to the point where Ecuador is now the world's second-largest producer of shrimps. The mining sector produces gold, silver, copper and other metals.
Ecuador is a member of the World Trade Organisation. In recent years, the country's increasing oil revenues have largely been devoted to paying off the country's substantial foreign debt. Ecuador is a member of the main regional integration bodies: the Andean Union and Asociación Latinoamericana de Integración (ALADI).

 

Economy:

Following economic crisis and poverty, the adoption of the US Dollar (in 2000) has stablised the nation's economy. However, 38% of the population are still below the poverty line (2006). Growth was at 3.4% in 2008, with unemployment at 8.7% and inflation at 8.6%.
Ecuador has substantial petroleum resources, which has earned more than a half of the country's export revenue in recent years. It is the world's largest exporter of bananas and also grows coffee, cocoa, palm oil and sugar in significant quantities.
Fishing is another important sector: seafood exports have expanded rapidly to the point where Ecuador is now the world's second-largest producer of shrimps. The mining sector produces gold, silver, copper and other metals.
Ecuador is a member of the World Trade Organisation. In recent years, the country's increasing oil revenues have largely been devoted to paying off the country's substantial foreign debt. Ecuador is a member of the main regional integration bodies: the Andean Union and Asociación Latinoamericana de Integración (ALADI).

 

Industries:

petroleum, food processing, textiles, wood products, chemicals

 

Exports:

Petroleum, bananas, coffee, cacao, cut flowers and shrimp.
• Main trade partners: USA, Colombia, China, Brazil and Japan.

Imports:

Industrial materials, nondurable consumer goods, fuels and lubricants.

Exchange rates:

US Dollar (USD; symbol US$) = 100 cents. Notes are in denominations of US$100, 50, 20, 10, 5, 2 and 1. Coins are in denominations of US$1 and 50, 25, 10, 5 and 1 cents. Some coins are usual US cents and some are Ecuadorean centavos. They have the same value.
http://www.worldtravelguide.net/country/79/money/South-America/Ecuador.html

GDP :

US$54.7 billion (2008 estimate).

 

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  Copyright By :  Kish Trade Promotion Center  2002