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NAVIGATION
Republic of Ecuador
Republica del Ecuador
former: Republic of the Equator
former: Gran Colombia
GOVERNMENT
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Country name:
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conventional long form: Republic of Ecuador
conventional short form: Ecuador local short form: Ecuador local long form: Republica del Ecuador |
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Government type:
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republic |
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Capital:
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Quito |
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Administrative divisions:
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22 provinces (provincias, singular - provincia); Azuay, Bolivar, Canar, Carchi, Chimborazo, Cotopaxi, El Oro, Esmeraldas, Galapagos, Guayas, Imbabura, Loja, Los Rios, Manabi, Morona-Santiago, Napo, Orellana, Pastaza, Pichincha, Sucumbios, Tungurahua, Zamora-Chinchipe |
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Independence:
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24 May 1822 (from Spain) |
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National holiday:
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Independence Day (independence of Quito), 10 August (1809) |
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Constitution:
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10 August 1998 |
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Legal system:
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based on civil law system; has not accepted compulsory ICJ jurisdiction |
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Suffrage:
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18 years of age; universal, compulsory for literate persons ages 18-65, optional for other eligible voters |
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Executive branch:
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chief of state: President Lucio GUTIERREZ (since 15 January 2003); Vice President Alfredo PALACIO (since 15 January 2003); note - the president is both the chief of state and head of government
elections: the president and vice president are elected on the same ticket by popular vote for four-year term (no reelection); election last held 20 October 2002; runoff election held 24 November 2002 (next to be held NA October 2006) head of government: President Lucio GUTIERREZ (since 15 January 2003); Vice President Alfredo PALACIO (since 15 January 2003); note - the president is both the chief of state and head of government cabinet: Cabinet appointed by the president election results: results of the 24 November 2002 runoff election - Lucio GUTIERREZ elected president; percent of vote - Lucio GUTIERREZ 54.3%; Alvaro NOBOA 45.7% |
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Legislative branch:
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unicameral National Congress or Congreso Nacional (123 seats; 20 members are popularly elected at-large nationally to serve four-year terms; 103 members are popularly elected by province to serve four-year terms)
elections: last held 31 May 1998 (next to be held 20 October 2002) election results: percent of vote by party - NA%; seats by party - DP 32, PSC 27, PRE 24, ID 18, P-NP 9, FRA 5, PCE 3, MPD 2, CFP 1; note - defections by members of National Congress are commonplace, resulting in frequent changes in the numbers of seats held by the various parties |
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Judicial branch:
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Supreme Court or Corte Suprema (new justices are elected by the full Supreme Court) |
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Political parties and leaders:
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Concentration of Popular Forces or CFP [Averroes BUCARAM]; Democratic Left or ID [Rodrigo BORJA Cevallos]; Ecuadorian Conservative Party or PCE [Jacinto JIJON Y CAMANO]; Independent 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] |
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Political pressure groups and leaders:
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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] |
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International organization participation:
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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 |
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Diplomatic representation in the US:
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chief of mission: Ambassador Ivonne A-BAKI
consulate(s) general: Chicago, Houston, Los Angeles, Miami, New Orleans, New York, Newark, Philadelphia, and San Francisco FAX: [1] (202) 667-3482 telephone: [1] (202) 234-7200 chancery: 2535 15th Street NW, Washington, DC 20009 |
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Diplomatic representation from the US:
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chief of mission: Ambassador Kristie Anne KENNEY
embassy: Avenida 12 de Octubre y Avenida Patria, Quito mailing address: APO AA 34039 telephone: [593] (2) 256-2890 FAX: [593] (2) 250-2052 consulate(s) general: Guayaquil |
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Flag description:
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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
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Economy - overview:
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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. |
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GDP:
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purchasing power parity - $39.6 billion (2001 est.) |
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GDP - real growth rate:
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4.3% (2001 est.) |
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GDP - per capita:
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purchasing power parity - $3,000 (2001 est.) |
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GDP - composition by sector:
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agriculture: 11%
industry: 25% services: 64% (2000 est.) |
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Population below poverty line:
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70% (2001 est.) |
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Household income or consumption by percentage share:
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lowest 10%: 2%
highest 10%: 34% (1995) (1995) |
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Distribution of family income - Gini index:
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44 (1995) |
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Inflation rate (consumer prices):
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22% (2001 est.) |
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Labor force:
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3.7 million (urban) |
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Labor force - by occupation:
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agriculture 30%, industry 25%, services 45% (2001 est.) |
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Unemployment rate:
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14%; note - widespread underemployment (2001 est.) |
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Budget:
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revenues: $5.6 billion
expenditures: planned $5.6 billion, including capital expenditures of $NA (2001 est.) |
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Industries:
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petroleum, food processing, textiles, metal work, paper products, wood products, chemicals, plastics, fishing, lumber |
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Industrial production growth rate:
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5.1% (2001 est.) |
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Electricity - production:
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10.395 billion kWh (2000) |
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Electricity - production by source:
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fossil fuel: 25%
hydro: 75% other: 0% (2000) nuclear: 0% |
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Electricity - consumption:
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9.667 billion kWh (2000) |
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Electricity - exports:
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0 kWh (2000) |
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Electricity - imports:
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0 kWh (2000) |
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Agriculture - products:
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bananas, coffee, cocoa, rice, potatoes, manioc (tapioca), plantains, sugarcane; cattle, sheep, pigs, beef, pork, dairy products; balsa wood; fish, shrimp |
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Exports:
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$4.8 billion (2001 est.) |
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Exports - commodities:
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petroleum, bananas, shrimp, coffee, cocoa, cut flowers, fish |
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Exports - partners:
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US 38%, Peru 6%, Chile 5%, Colombia 5%, Italy 3% (2000) |
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Imports:
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$4.8 billion (2001 est.) |
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Imports - commodities:
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machinery and equipment, chemicals, raw materials, fuels; consumer goods |
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Imports - partners:
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US 25%, Colombia 13%, Japan 8%, Venezuela 8%, Brazil 4% (2000) |
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Debt - external:
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$14 billion (2001) (2001) |
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Economic aid - recipient:
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$120 million (2001) (2001) |
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Currency:
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US dollar (USD) |
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Currency code:
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USD |
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Exchange rates:
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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 |
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Fiscal year:
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calendar year |