Introduction
Ecuador is one the most well known countries in Africa that also sometimes represent
the face of Africa and also the continentThey are people of different origin,
in the 13 million Ecuadorian population over half are Mestizos, those of Spanish
and Indian descent. According to the area they habit they are called "montuvios"
or "cholos" in the coastline for example. Where as in the Andes they
are nicknamed "longos" or "indios"They are known as very
warm and hospitable people and they are cordial to all their visitors who visit
them year after year to come and discover what the country has and what it has
worth seeing and enjoying.
Business and Economy
The main resources from which Ecuador earns is the substantial petroleum resources,
which account for 40% of the country's export earnings and one-fourth of public
sector revenues in recent years. But as everyone knows the countries that are
strong have a say and also are influential in the prices that are on the present
in the market. Consequently, fluctuations in world market prices can have a
substantial domestic impact. In the late 1990s, Ecuador suffered its worst economic
crisis, with natural disasters .Like most countries Ecuador too has a lot of
debts that they have borrowed from other countries and states. So as a consequence
the government is using oil revenues to pay off Ecuador's massive foreign debt
and has secured a new standby agreement with the IMF.
Industries
Petroleum, food processing, textiles, metal work, paper products, wood products,
chemicals, plastics, fishing, lumber.
Agriculture - products
Bananas, coffee, cocoa, rice, potatoes, manioc (tapioca), plantains, sugarcane;
cattle, sheep, pigs, beef, pork, dairy products; balsa wood; fish, shrimp.
Major Cities
Quito, Cuenca, Eloy Alfaro Guayaquil, Machala, Manta, Portoviejo, Santo Domingo
Fact Sheet
Population: 12.8 million (2005e)
Capital: Quito: 1.6 million
Pop. Growth Rate: 1.6% (2005e)
Total Area: 256,370 km2 (Victoria Isl. = 217,291 km2)
Currency: The US dollar is the only official currency of Ecuador since
January 9, 2000
Language: Spanish (official)
Literacy: 91.6% (92.7% M/ 90.5% F)
Life Expectancy: 68M/74F
UN Human Development Index: (2005): 100th among 177 countries
National Day: 10 August (1822 Independence Day
GDP: C$39.3 bn (e. 2005)
Real GDP Growth Rate: 6.9% (2005)
GDP per Capita: C$3,023 (e. 2005)
Inflation Rate: 2.7% (2005)
Unemployment Rate: 11.3% (2005)
Total External Debt: C$21.8 bn (e.2005)
Military Expenditures: US$650 million (2003) CIA
