National Movement or MIN [Eliseo AZUERO]; Pachakutik-New Country or P-NP
[Miguel LLUCO]; Popular Democracy or DP [Dr. Juan Manuel FUERTES]; Popular
Democratic Movement or MPD [Gustavo TERAN Acosta]; Radical Alfarista Front
or FRA [Fabian ALARCON, director]; Roldosist Party or PRE [Abdala BUCARAM
Ortiz, director]; Social Christian Party or PSC [Pascual DEL CIOPPO]
Political pressure groups and leaders: Confederation of Indigenous
Nationalities of Ecuador or CONAIE [Leonidas IZA, president]; Coordinator
of Social Movements or CMS [F. Napoleon SANTOS]; Federation of Indigenous
Evangelists of Ecuador or FEINE [Marco MURILLO, president]; National
Federation of Indigenous Afro-Ecuatorianos and Peasants or FENOCIN
[Pedro DE LA CRUZ, president]; Popular Front or FP [Luis VILLACIS]
International organization participation: CAN, CCC, ECLAC, FAO, G-77,
IADB, IAEA, IBRD, ICAO, ICC, ICFTU, ICRM, IDA, IFAD, IFC, IFRCS, IHO,
ILO, IMF, IMO, Interpol, IOC, IOM, ISO, ITU, LAES, LAIA, NAM, OAS,
OPANAL, OPCW, PCA, RG, UN, UNCTAD, UNESCO, UNIDO, UPU, WCL, WFTU, WHO,
WIPO, WMO, WToO, WTrO
Diplomatic representation in the US: Ambassador Ivonne A-BAKI consulate(s) general: Philadelphia, and San Francisco FAX: [1] (202) 667-3482 telephone: [1] (202) 234-7200 chancery: 2535 15th Street NW, Washington, DC 20009
Diplomatic representation from the US: chief of mission: Ambassador (vacant); Charge d'Affaires Larry L. PALMER embassy: Avenida 12 de Octubre y Avenida Patria, Quito mailing address: APO AA 34039 telephone: [593] (2) 256-2890 FAX: [593] (2) 502-052 consulate(s) general: Guayaquil
Flag description: three horizontal bands of yellow (top, double width), blue, and red with the coat of arms superimposed at the center of the flag; similar to the flag of Colombia which is shorter and does not bear a coat of arms
Economy Ecuador
Economy - overview: Ecuador has substantial oil resources and rich agricultural areas. Because the country exports primary products such as oil, bananas, and shrimp, fluctuations in world market prices can have a substantial domestic impact. Ecuador joined the World Trade Organization in 1996, but has failed to comply with many of its accession commitments. The aftermath of El Nino and depressed oil market of 1997-98 drove Ecuador's economy into a free-fall in 1999. The beginning of 1999 saw the banking sector collapse, which helped precipitate an unprecedented default on external loans later that year. Continued economic instability drove a 70% depreciation of the currency throughout 1999, which forced a desperate government to "dollarize" the currency regime in 2000. The move stabilized the currency, but did not stave off the ouster of the government. Gustavo NOBOA, who assumed the presidency in January 2000, has managed to pass substantial economic reforms and mend relations with international financial institutions. Ecuador completed its first standby agreement since 1986 when the IMF Board approved a 10 December 2001 disbursement of $96 million, the final installment of a $300 million standby credit agreement.
GDP: purchasing power parity - $39.6 billion (2001 est.)
GDP - real growth rate: 4.3% (2001 est.)
GDP - per capita: purchasing power parity - $3,000 (2001 est.)
GDP - composition by sector: agriculture: 11% industry: 25% services: 64% (2000 est.)
Population below poverty line: 70% (2001 est.)
Household income or consumption by percentage share: lowest 10%: 2.2% highest 10%: 33.8% (1995)
Distribution of family income - Gini index: 43.7 (1995)
Inflation rate (consumer prices): 22% (2001 est.)
Labor force: 3.7 million (urban)
Labor force - by occupation: agriculture 30%, industry 25%, services 45% (2001 est.)
Unemployment rate: 14%; note - widespread underemployment (2001 est.)
Budget: revenues: $5.6 billion expenditures: planned $5.6 billion, including capital expenditures of $NA (2001 est.)
Industries: petroleum, food processing, textiles, metal work, paper products, wood products, chemicals, plastics, fishing, lumber
Industrial production growth rate: 5.1% (2001 est.)
Electricity - production: 10.395 billion kWh (2000)
Electricity - production by source: fossil fuel: 25.01% hydro: 74.99% other: 0% (2000) nuclear: 0%
Electricity - consumption: 9.667 billion kWh (2000)
Electricity - exports: 0 kWh (2000)
Electricity - imports: 0 kWh (2000)
Agriculture - products: bananas, coffee, cocoa, rice, potatoes, manioc (tapioca), plantains, sugarcane; cattle, sheep, pigs, beef, pork, dairy products; balsa wood; fish, shrimp
Exports: $4.8 billion (2001 est.)
Exports - commodities: petroleum, bananas, shrimp, coffee, cocoa, cut flowers, fish
Exports - partners: US 38%, Peru 6%, Chile 5%, Colombia 5%, Italy 3% (2000)
Imports: $4.8 billion (2001 est.)
Imports - commodities: machinery and equipment, chemicals, raw materials, fuels; consumer goods
Imports - partners: US 25%, Colombia 13%, Japan 8%, Venezuela 8%,
Brazil 4% (2000)
Debt - external: $14 billion (2001)
Economic aid - recipient: $120 million (2001)
Currency: US dollar (USD)
Currency code: USD
Exchange rates: sucres per US dollar - 25,000.0 (January 2002), 25,000.0 (2001), 24,988.4 (2000), 11,786.8 (1999), 5,446.6 (1998), 3,988.3 (1997) note: on 13 March 2000, the National Congress approved a new exchange system whereby the US dollar was adopted as the main legal tender in Ecuador for all purposes; on 20 March 2000, the Central Bank of Ecuador started to exchange sucres for US dollars at a fixed rate of 25,000 sucres per US dollar; since 30 April 2000, all transactions are denominated in US dollars
Fiscal year: calendar year
Communications Ecuador
Telephones - main lines in use: 1,115,272 (1999)
Telephones - mobile cellular: 384,000 (1999)
Telephone system: generally elementary but being expanded domestic: earth station - 1 Intelsat (Atlantic Ocean)
Radio broadcast stations: AM 392, FM 35, shortwave 29 (2001)
Radios: 5 million (2001)
Television broadcast stations: 7 (plus 14 repeaters) (2001)
Televisions: 2.5 million (2001)
Internet country code: .ec
Internet Service Providers (ISPs): 31 (2001)
Internet users: 180,000 (2001)
Transportation Ecuador
Railways: total: 965 km narrow gauge: 965 km 1.067-m gauge (2000 est.)
Highways: total: 43,197 km paved: 8,165 km unpaved: 35,032 km (2001)
Waterways: 1,500 km
Pipelines: crude oil 800 km; petroleum products 1,358 km
Ports and harbors: Esmeraldas, Guayaquil, La Libertad, Manta, Puerto
Bolivar, San Lorenzo
Merchant marine: total: 33 ships (1,000 GRT or over) totaling 239,876 GRT/393,680 DWT note: includes some foreign-owned ships registered here as a flag of convenience: