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ECUADOR PROFILE |
People
Population: 13,923,375.
Annual population growth: 1.55%.
Ethnic groups: Indigenous 6.8%, mestizo (mixed Indian and Spanish) 77.4%, Caucasian and others 10.8%, African 4.9%.
Religion: Predominantly Roman Catholic (95%), but religious freedom recognized.
Languages: Spanish (official), indigenous languages, especially Quichua, the Ecuadorian dialect of Quechua.
Cities: Capital--Quito (pop. 2 million). Other major cities--Guayaquil (2.28 million).
Ecuador's population is ethnically mixed. A large majority of the population is mestizo (mixed Indian-Caucasian), followed by smaller percentages of indigenous, Afro-Ecuadorian, and European descendent criollos. Although Ecuadorians were heavily concentrated in the mountainous central highland region a few decades ago, today's population is divided about equally between that area and the coastal lowlands. Migration toward cities--particularly larger cities--in all regions has increased the urban population to over 60%. The tropical forest region (or Amazon region) to the east of the mountains remains sparsely populated and contains only about 3% of the population. Due to an economic crisis in the late 1990s, more than 600,000 Ecuadorians emigrated to the U.S. and Europe from 2000 to 2001.
Economy:
GDP: USD 52.6 billion
Real annual growth rate: 2.3%
Per capita GDP: USD 3,670
The Ecuadorian economy is based on petroleum production, manufacturing primarily for the domestic market, and agricultural production for domestic consumption and export. Principal exports are petroleum, bananas, shrimp, flowers, and other primary agricultural products. In 2007, crude and refined petroleum products accounted for 58% of total export earnings. Ecuador is the world's largest exporter of bananas and plantains (about $1.3 billion) and a major exporter of shrimp ($613 million). Exports of nontraditional products such as flowers ($469 million), canned fish ($671 million) and automobiles ($383 million) have grown in recent years (all trade data from 2007).
Ecuador adopted the dollar as its national currency in 2000, following a major banking crisis and recession in 1999. Dollarization led to stability, which helped Ecuador achieve solid economic performance through 2006. Growth averaged 4.6% per year, supported by high oil prices, strong domestic consumer demand, increased non-traditional exports, and growing remittances ($3 billion a year) from Ecuadorians living abroad. Per capita income increased from $1,296 in 2000 to an estimated $3,670 in 2008, while the poverty rate fell from 51% in 2000 to 38% in 2006. |
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