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Ecuador is substantially dependent on its petroleum resources, which have accounted for more than half of the country's export earnings and one-fourth of public sector revenues in recent years. In 1999/2000, Ecuador suffered a severe economic crisis, with GDP contracting by more than 6%. Poverty increased significantly, the banking system collapsed, and Ecuador defaulted on its external debt later that year. In March 2000, Congress approved a series of structural reforms that also provided for the adoption of the US dollar as legal tender. Dollarization stabilized the economy, and positive growth returned in the ...  More..

Economy of Ecuador
SOURCE: CIA - The World Factbook
Currency Us Dollar
Fiscal Year 01 January - 31 December
GDP (PPP) $108.2 billion (2009 est.)
GDP (per capita) $7,400 (2009 est.)
Exports $13.76 billion (2009 est.)
Imports $14.09 billion (2009 est.)
Main 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, Nondurable Consumer Goods
Exports Partners US 33.5%, Peru 6.8%, Chile 6.5%, Columbia 4.9% (2009 est.)
Imports Partners US 25.4%, Columbia 10.6%, Venezuela 6.5%, Brazil 4.5% (2009 est.)

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