Economy
GDP
GDP growth has increased partially due to dollarization.[3] The estimated GDP of Ecuador was $124.8 billion in 2011, which ranks 64 worldwide. The GDP is increasing every year. The GDP was $118.1 billion in 2009. The estimated GDP per capita was $8,300 in 2011. The GDP growth rate was .04% in 2009, 3.6% in 2010, and 5.8% in 2011, which shows that the GDP is growing. [2]
Good & Services
The main agricultural products that are being produced in Ecuador are: bananas, coffee, cocoa, rice, potatoes, manioc (tapioca), plantains, sugarcane, cattle, sheep, pigs, pork, dairy products, balsa wood, fish, and shrimp. The main industrial products that Ecuador produces are petroleum, food processing, textiles, wood products, and chemicals. The industrial production growth rate was 1.9% in 2011. [2]
Export and Imports
Ecuador mainly exports petroleum, bananas, cut flowers, shrimp, cacao, coffee, wood, and fish. They exported an estimated $23.54 billion in 2011, which is higher than the $17.44 billion from 2010. The majority of the exports go to the United States. They export 34.8% of their total exports to the United States, 13% to Panama, 7.7% to Peru, 4.5% to Colombia, 4.2% to Russia, and 4.2% to Chile. [2]
Ecuador mainly imports industrial materials, fuels and lubricants, and nondurable consumer goods. They imported an estimated $23.58 billion in 2011, which is almost identical to the amount they had exported. Ecuador imports most of its products to the United States. They import 27.9% of their total imports from the United States, 10.1% from Colombia, 7.5% from China, 2.6% from Venezuela, and 4.2% from Brazil.[2]
GDP growth has increased partially due to dollarization.[3] The estimated GDP of Ecuador was $124.8 billion in 2011, which ranks 64 worldwide. The GDP is increasing every year. The GDP was $118.1 billion in 2009. The estimated GDP per capita was $8,300 in 2011. The GDP growth rate was .04% in 2009, 3.6% in 2010, and 5.8% in 2011, which shows that the GDP is growing. [2]
Good & Services
The main agricultural products that are being produced in Ecuador are: bananas, coffee, cocoa, rice, potatoes, manioc (tapioca), plantains, sugarcane, cattle, sheep, pigs, pork, dairy products, balsa wood, fish, and shrimp. The main industrial products that Ecuador produces are petroleum, food processing, textiles, wood products, and chemicals. The industrial production growth rate was 1.9% in 2011. [2]
Export and Imports
Ecuador mainly exports petroleum, bananas, cut flowers, shrimp, cacao, coffee, wood, and fish. They exported an estimated $23.54 billion in 2011, which is higher than the $17.44 billion from 2010. The majority of the exports go to the United States. They export 34.8% of their total exports to the United States, 13% to Panama, 7.7% to Peru, 4.5% to Colombia, 4.2% to Russia, and 4.2% to Chile. [2]
Ecuador mainly imports industrial materials, fuels and lubricants, and nondurable consumer goods. They imported an estimated $23.58 billion in 2011, which is almost identical to the amount they had exported. Ecuador imports most of its products to the United States. They import 27.9% of their total imports from the United States, 10.1% from Colombia, 7.5% from China, 2.6% from Venezuela, and 4.2% from Brazil.[2]